SVA India Terminates JV Deal with Future Consumer Over Agreement Breach

MT Newswires Live

11/20

Diversified conglomerate SVA India (BOM:531885) has issued a notice terminating its joint venture agreement with Future Consumer Ltd., according to a Wednesday filing.

The company said the termination was triggered by violations of certain terms and conditions of the April 25, 2014, JV agreement.

Shares of SVA India rose nearly 5% in early Thursday trade.

SVA India added that it is taking necessary steps arising from the termination in line with contractual and legal obligations.

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