March 4, 2024


ISMC was set up as a consortium led by Jalan, and it had Tower as its technology partner

In a fresh twist, lawyers representing chip consortium ISMC and Next Orbit Ventures Fund have communicated to Tower Semiconductor and its legal team that the decision of “termination of agreement” by the Israeli technology major to set up a fab plant in India is “unlawful”, and that their clients will pursue “all available legal remedies” in case Tower does not abide by its “obligations and duties”.

The communication was sent on January 24, but late last week there were reports that Tower had applied to the Indian government to set up a fab plant that will make chips of 40-65 nanometres,

First Published: Feb 12 2024 | 11:19 PM IST