ANAND Group, which is into the manufacturing of automotive components in India, has announced the formation of a Tri-Party Joint Venture to merge the two Joint Ventures of Joyson Safety Systems in India. KSS Abhishek Safety Systems Private Limited which is a Joint Venture of JSS with Abhishek Group is being merged with Takata India Pvt. Ltd (“TIPL”).
Author: Group Communications
Result of unsecure Creditors Meeting in the matter of Scheme of Arrangement between KSS Abhishek Safety Systems Private limited and Takata India Private Limited
ANAND forms JV with Joyson Safety Systems
ANAND Group has announced the formation of a Tri-Party Joint Venture to merge the two Joint Ventures of Joyson Safety Systems in India. KSS Abhishek Safety Systems Private Limited which is a Joint Venture of JSS with Abhishek Group is being merged with Takata India, a Joint Venture between ANAND Group and JSS.
ANAND Group sets up new JV, merges two Joyson Safety Systems JVs
Leading Tier 1 supplier ANAND Group, in a measure to consolidat its presence in the Indian automotive safety systems industry, has announced the formation of a tri-party joint venture to merge the two JVs of Joyson Safety Systems (JSS) in India. KSS Abhishek Safety Systems (KSSA), a JSS JV with Abhishek Group, is being merged with Takata India (TIPL), a JV between the ANAND Group and JSS. The new JV is to be called Joyson ANAND Abhishek Safety Systems.
ANAND Group partners with Joyson Safety Systems
The merger of the two entities is subject to approval of the National Company Law Tribunal (NCLT). Under the terms of the new JV agreement, ANAND Group will be increasing its stake to 30 per cent in the combined entity JAASS from its current holding of 25 per cent in TIPL.
ANAND Group signs JV with Joyson Safety Systems
ANAND Group has announced the formation of a Tri-Party Joint Venture to merge the two Joint Ventures of Joyson Safety Systems (“JSS”) in India.
Students from SNS Foundation partner government schools qualify to prestigious Jawahar Navodaya Vidyalayas
On May 25th, results of the entrance exam to prestigious Jawahar Navodaya Vidyalayas (JNV) 2019 were declared. JNV is a Government of India Sponsored Scheme. It is a system of alternate schools for gifted students in India belonging to low socio economic status. JNVs provide free, residential, English medium education to selected students from Class VI – XII. Almost every district in India has a JNV which admits only 80 students every year in Class VI. Throughout the year, SNSF conducts special coaching classes for meritorious students in its partner schools, preparing them for various state level and national level scholarship/competitive exams. This year four Class V students from SNSF partner government schools in Parwanoo, Satara, Dewas and Jawai made it to the selected list of JNVs in their respective districts. With this year’s results, SNSF has a total of 15 students who have made it to the selected list of JNVs.
Human Medical Camps organised in villages surrounding The Serai, Jaisalmer
On May 3rd, 4th and 5th a series of medical camps were organised for residents of villages Bherwa, Jawandh and Sanwla. These three villages are in close proximity to SUJÁN The Serai. The camps are an expression of SUJÁN’s commitment towards the well-being of underprivileged communities in its vicinity. A total of 484 individuals attended the camps and availed free medical consultation from the qualified medical team. Necessary medicines were also made available at no cost to the attendees.
ANAND signs a Tri-Party Joint Venture with Joyson Safety Systems and Abhishek Group
ANAND Group is consolidating its presence in the Indian automotive safety systems vertical. It announced the formation of a Tri-Party Joint Venture to merge the two Joint Ventures of Joyson Safety Systems in India. KSS Abhishek Safety Systems which is a Joint Venture of JSS with Abhishek Group is being merged with Takata India. Takata India is a Joint Venture between ANAND Group and JSS. The new Tri Party Joint Venture will be called ‘Joyson ANAND Abhishek Safety Systems’. The merger of the two entities is subject to approval of the National Company Law Tribunal (NCLT).
Under the terms of the new Joint Venture agreement, ANAND Group will be increasing its stake to 30% in the combined entity JAASS from its current holding of 25% in Takata India. The new shareholding structure of JAASS will be: JSS 65%, ANAND Group 30% and Abhishek Group 5%.
Post this merger, JAASS will have four manufacturing facilities in India- 1) Neemrana, Rajasthan; 2) Kancheepuram, Tamil Nadu; 3) Manesar, Haryana and 4) Pune, Maharashtra. Manesar plant also houses a state-of-the-art R&D facility on par with any such facility globally. JAASS is poised to become a leading supplier of safety-critical components such as airbags (all types- driver, passenger, side, curtain etc.), seat belts (front and rear) and steering wheels to all major OEMs in India and is projected to achieve a turnover of Rs. 1000 Crores by 2023.
SNS Foundation, Dewas spreads awareness amongst voters
The staff and vocational training students of SNSF Dewas joined hands with the Dewas district administration to encourage the general population to exercise their voting rights. Dewas district administration was represented by Mr. Shrikant Pandey, District Collector, Dewas , Ms. Sheetla Patle, CEO Zila Panchayat, and other district level officials. In view of the scorching summer, the SNSF team designed creative water bowls for birds with slogans written on them for raising voters’ awareness. These creative gifts were presented to the general population by the vocational training students and representatives of the district administration present on this occasion.