Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M) subsidiary -- Classic Legends (CLPL) has entered into a Joint Venture Agreement with Tube Investments of India (TIIL). CLPL and TIIL have agreed to incorporate a Joint Venture company (JVC) with shareholding in the ratio of 50:50 for the purposes of using the BSA Marks in India for motorcycles, its parts and accessories to be manufactured and sold by CLPL, in accordance with the terms and conditions of the Joint Venture Agreement and the Master Trademark Licensing Agreement to be executed between CLPL, TIIL and the proposed JVC.

CLPL and TIIL will be initially investing Rs 50,000 each in the equity shares of JVC at the face value of Rs 10 per equity share. CLPL and TIIL will hold 50% each in the equity share capital of JVC. 

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.