Automotive Axles Inks Strategic Services Agreement with Meritor HVS India
Automotive Axles Limited has entered into a services agreement with Meritor HVS (India) Limited (MHVSIL), a member of its Promoter Group. MHVSIL will provide specialized services including marketing, engineering, product development, and account management for Automotive Axles' products. The partnership aims to enhance Automotive Axles' technical capabilities and market position. The agreement, approved by the Audit Committee and Board of Directors, will be conducted on an arm's length basis.
31Mar 25
Automotive Axles Limited Inks Strategic Services Agreement with Meritor HVS India
Automotive Axles Limited has entered into a services agreement with Meritor HVS (India) Limited (MHVSIL) on March 31, 2025. MHVSIL will provide marketing, engineering, product development, and program management services to support Automotive Axles' products. This related party transaction aims to enhance Automotive Axles' technical expertise, expand market presence, drive product innovation, and improve operational efficiency. The agreement has received necessary approvals from the Audit Committee and Board of Directors.
Automotive Axles Limited has signed a binding MOU with Meritor HVS (India) Limited, transferring certain customers and revising supply arrangements. The company also received a notice from Karnataka State Pollution Control Board regarding mandatory emission control measures for diesel generators at its Mysuru plant.