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Corporate News 27-Jun-22

NSIL to transfer technology for Optical Imaging System to Paras

Paras Defence and Space Technologies announced that New Space India, Central Public Sector Enterprise under the administrative control of Department of Space (DOS), Government of India has executed ‘Letter of Intent' (LOI) dated 27 June 2022 with Paras Defence and Space Technologies for handing over the technology of “Optical Imaging System” as developed by Indian Space Research Organization (ISRO).

This technology will be transferred by way of Technology Transfer Agreement (hereinafter referred as ‘the agreement') for development, manufacturing, and sale of Optical Imaging System in India and abroad. The draft of the agreement has been handed over by NSIL to Paras. The Company shall inform about the execution of the agreement to it's stakeholders, upon finalization of the commercials for the ToT.

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