ADAG’s Reliance, Joint Ventures - Current Affairs Questions and Answers

ANSWER: State

Explanation:
Union Cabinet on 30th December 2015 provided approval for forming a joint venture company with state governments to mobilise resources for numerous rail infrastructure projects to provide a bid to push the infrastructure sector. For improving the connectivity between India and neighbouring country Myanmar, Union Cabinet also approved construction of 69 bridges on the TKK or Tamu-Kylgone-Kalewa route of the Trilateral Highway in Myanmar. In the railways JV, Union Cabinet has taken the decision to limit initial paid up capital for Ministry of Railways to INR 50 crore for each state. JVs aim at financial participation of states and quicker decision making to ensure speedy implementation of rail projects.

ANSWER: NALCO

Explanation:
The two firms will come together to set up a caustic soda plant at Dahej in Gujarat. NALCO CMD T K Chand on 8th December 2015 laid the foundation stone of the proposed plant, a release here said. The new JV company GACL-NALCO Alkalies & Chemicals Private Limited, in which NALCO holds 40 per cent share capital, while GACL holds the rest, plans to produce 2.7 lakh tonnes of caustic soda per annum.

ANSWER: Maison Montblanc

Explanation:
Titan has appointed 3 directors including MD Bhaskar Bhat on board its new JV with Maison Montblanc which aims to carry out single brand retail trading of the products in India. The other two people appointed on the board are Co CEO S. Ravi Kant and Independent Director Ireen Vittal. Appointment is as per agreement between partners under which Titan has appointed three of six directors in a BSE filing. JV has “equity participation pursuant to FIPB approval in the ratio of 51:49 by Montblanc Services BV and Titan Co Ltd, respectively, as per the filing. The equity share capital of the JV company after allotment on December 5, 2015 is Rs. 41.50 crore comprising 4.15 crore shares of Rs.10 each, the company said. Montblanc is entering India again to open 5 boutiques within the next 3 months. Titan is a JV between TATA group and Tamil Nadu Industrial Development Corp.