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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