Strategic Collaboration and Consultancy Agreement signed with Malligavad Foundation and Anand Malligavad
The company has entered into a Strategic Collaboration & Consultancy Agreement with Malligavad Foundation (a Section 8 company) and Mr. Anand Malligavad, known as the 'Lakeman of India'.
- Partner
- Malligavad Foundation and Mr. Anand Malligavad ('Lakeman of India')
- Company Role
- Execution partner
- Partner Role
- Exclusive/preferred Technical Advisor
- Geographic Territory
- Goa, Konkan (Sindhudurg, Ratnagiri, Raigad), and coastal/northern Karnataka (Mangalore, Udupi, Karwar, Belgaum, Hubli, Dharwad)
- Upfront Monetary Consideration
- Presently no upfront monetary consideration
What was announced
The company has entered into a Strategic Collaboration & Consultancy Agreement with Malligavad Foundation and Mr. Anand Malligavad, popularly referred to as the 'Lakeman of India'.
Roles
- EP Biocomposites Limited acts as the execution partner.
- Malligavad Foundation and Mr. Anand Malligavad serve as the exclusive/preferred Technical Advisor across designated geographical territories.
Territory covered
- Goa (entire State)
- Konkan Division, including Sindhudurg, Ratnagiri and Raigad
- Coastal and Northern districts including Mangalore (Dakshina Kannada), Udupi, Karwar (Uttara Kannada), Belgaum (Belagavi), Hubli and Dharwad
Scope of work
The parties will collaborate on projects for rejuvenation of lakes, creeks, wetlands and other water bodies, water conservation, effluent treatment, eco-restoration and associated civil / environmental engineering initiatives. The company describes this as an extension of its aqua division.
Commercial terms
Presently, there is no upfront monetary consideration paid under the Agreement. The share exchange / JV ratio is stated as NA. The agreement sets out the modality of engagement and the respective roles of the parties for work on conservation of water bodies.
Other details
- The agreement is domestic.
- Malligavad Foundation is a Section 8 Company.
- The agreement is not with a related party.
How to read it
This is a partnership framework that may widen the company's reach in water-body restoration work in western and coastal India. Since no upfront consideration is involved, any financial impact would depend on projects actually won and executed under the collaboration.
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