Tata Technologies amended Memorandum of Agreement with Government of Chhattisgarh
The Company has today i.e. August 10, 2024, sent a letter to the CoG accepting the termination of the MoA and agreed to initiate steps for refund of the Escrow Amount.
Tata Technologies has amended the MoA with the Government of Chhattisgarh which was signed on 22 July, 2023.
The Government of Chhattisgarh, through its authorized representative, the Director, Employment and Training, Chhattisgarh, and Tata Technologies Limited has signed a Memorandum of Agreement dated July 22, 2023, for executing the project under the MoA, which primarily entailed upgrading 36 ITIs as Center of Excellence (CoE), in the State of Chhattisgarh.
The Company has received a letter from the Government of Chhattisgarh (“CoG”), informing the Company about closure of the Project and termination of the MoA as they are exploring alternate options to meet the Project objectives.
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The Company has today i.e. August 10, 2024, sent a letter to the CoG accepting the termination of the MoA and agreed to initiate steps for refund of the Escrow Amount.
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