The Joint Venture Agreement between KEI Industries Limited, New Delhi and Brugg Kabel AG, Switzerland was entered into on June 24, 2014. This Joint Venture was in the form of Association of Person (AOP). No share capital was invested in the Joint Venture by the respective member of Joint Venture.

Joint Venture was formed for the specific purpose of bid and execution of DMRC project. The DMRC Project has been successfully completed and hence no fruitful purpose will be served from the existence of the aforesaid Joint Venture and therefore parties to the Joint Venture have mutually decided to dissolve the Joint Venture with effect from November 14, 2022. The dissolution will not have any impact on the operations of the Company and is not material to the Company.