In furtherance to intimation quoted under reference, the joint venture agreement to incorporate a Section 8 Company under Companies Act, 2013) under Defence Testing Infrastructure Scheme (DTIS) promulgated by Department of Defence Production, Ministry of Defence has been executed between consortium of five (5) Companies i.e. Mishra Dhatu Nigam Limited (MIDHANI); Bharat Dynamics Limited; Hindustan Aeronautics Limited; Yantra India Limited; and PTC Industries Limited along with Uttar Pradesh Expressways Industrial Development on May 6, 2024. The proposed registration of the Section 8 Company with the Ministry of Corporate Affairs will bear the name `Advanced Materials (Defence) Testing Foundation' or any other similar name as the case maybe. The main object of incorporation of Joint Venture Company under Defence Testing and Infrastructure Scheme promulgated by Ministry of Defence is to provide focused, structured, and significant thrust to indigenous Research, Development and Manufacturing in the Defence Sector, with special focus on participation of MSMEs an'd Startups, by providing state of the art testing facilities.