Wheels India Limited on Monday has approved the company’s intention to sell the non-core, small-sized fabrication plant at Deoli.
Meanwhile, The Board of Directors of the company has on its meeting dated March 29, 2021, decided to execute the deed of adherence to the Brand Agreement.
The members of the TVS family have, on January 29, 2021, entered into an agreement to record their understanding in respect of the use, adoption, registration of TVS" and/or "Sundaram' andlor "Sundram" (collectively, the "Word MarksS") trademarks and several other trademarks which contain additional element other than the Word Mark.
The Brand Agreement dated January 29, 2021 has been executed amongst various members of the TVS family.
“Please note that the company was not a party to the Brand Agreement, however, it is acceding to the Brand Agreement by execution of the deed of adherence,” company said in a regulatory filing on Monday.
During early trade on Tuesday, Wheels India Ltd was trading at Rs469.40 per piece up by Rs13.5 or 2.96% from its previous closing of Rs455.90 pe rpiece on the BSE.