{"id":16222,"date":"2023-04-28T05:22:04","date_gmt":"2023-04-28T05:22:04","guid":{"rendered":"https:\/\/www.newprojectstracker.com\/blog\/?p=16222"},"modified":"2023-04-29T05:25:42","modified_gmt":"2023-04-29T05:25:42","slug":"leading-ac-manufacturer-cancels-joint-venture-agreement","status":"publish","type":"post","link":"https:\/\/www.newprojectstracker.com\/blog\/leading-ac-manufacturer-cancels-joint-venture-agreement\/","title":{"rendered":"Leading AC manufacturer cancels joint venture agreement"},"content":{"rendered":"\n\n\n\t<div class=\"dkpdf-button-container\" style=\" text-align:right \">\n\n\t\t<a class=\"dkpdf-button\" href=\"\/blog\/wp-json\/wp\/v2\/posts\/16222?pdf=16222\" target=\"_blank\"><span class=\"dkpdf-button-icon\"><i class=\"fa fa-file-pdf-o\"><\/i><\/span> Download PDF Report<\/a>\n\n\t<\/div>\n\n\n\n\n\n<p><img src=\"https:\/\/www.newprojectstracker.com\/blog\/wp-content\/uploads\/2023\/04\/Joint-Venture.jpg\" \/><\/p>\n<p>Voltas, a manufacturer of air conditioners, announced that it had cancelled a joint venture agreement with Highly International (Hong Kong) Ltd to produce compressors in India because it was unable to secure the required regulatory clearances.<\/p>\n<p>Under Press Note No. 3 (PN3), the government had to give its approval before the proposed JV between the Tata Group company and Highly International could proceed.<\/p>\n<p>&#8220;As the regulatory approvals were not forthcoming, both the parties have mutually decided to terminate the Joint Venture Agreement,&#8221; said a regulatory update from Voltas.<\/p>\n<p>Through PN3, the government had made its prior approval mandatory for foreign investments from countries that share a land border with India in order to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download PDF Report Voltas, a manufacturer of air conditioners, announced that it had cancelled a joint venture agreement with Highly International (Hong Kong) Ltd to produce compressors in India because it was unable&#8230; <\/p>\n","protected":false},"author":1,"featured_media":16224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[163],"tags":[1756,1669,1757],"jetpack_featured_media_url":"https:\/\/www.newprojectstracker.com\/blog\/wp-content\/uploads\/2023\/04\/Joint-Venture.jpg","acf":[],"_links":{"self":[{"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/posts\/16222"}],"collection":[{"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/comments?post=16222"}],"version-history":[{"count":1,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/posts\/16222\/revisions"}],"predecessor-version":[{"id":16225,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/posts\/16222\/revisions\/16225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/media\/16224"}],"wp:attachment":[{"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/media?parent=16222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/categories?post=16222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newprojectstracker.com\/blog\/wp-json\/wp\/v2\/tags?post=16222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}