Deep Industries Limited have entered into Joint Venture arrangement with Focus Energy Limited to carry out business for providing field services such as higher capacity Onshore Drilling Rig Services in Oil and Gas Industry in India. Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to subscription in case of issuance of shares, right to restrict any change in capital structure etc. -Focus has acquired 26% equity stake of Breitling Drilling Private Limited subsidiary of DIL and balance 74% is held by DIL.

-Management of Joint Venture Agreement shall be carried out by the Directors as nominated/appointed by DIL as per the terms of the agreement from time to time.