TRF has sold its entire 51% stake in Adithya Automotive Applications (AAA) to JL Power Ventures (JPL) as on February 5, 2018. TRF does not hold any stake in AAA anymore and AAA has ceased to be a subsidiary of TRF.
Earlier, the company had executed a Share Purchase Agreement (SPA) on October 31, 2017 with JPL and AAA, whereby TRF had agreed to sell its entire 51% stake in AAA to JPL, subject to the terms of SPA.
TRF is engaged in the production of material handling equipment. The company’s segments include Products & Services, and Projects & Services.