Registration Of Joint Venture Agreement In India

Before signing a joint venture agreement, the following must be properly evaluated: an agreement and a joint venture agreement must be identified after consultation with a well-known audit firm of the Foreign Exchange Management Act; Indian Income-tax Act, 1961; The Companies Act, 2013; international laws and applicable Indian rules, regulations and procedures. The joint enterprise agreement should be conditional on obtaining, within a specified period of time, all necessary authorisations/authorizations/authorizations to the competent authorities of the Indian authorities, such as RBI/SIA, etc. If one of the authorizations has not been received or received late, the agreement cannot be implemented and the joint venture cannot be pursued on the basis of the agreement. {4} choose the subscribers to the statutes that, of course, will include the partners of the joint venture and their nominees, 1. The share of the share in the joint venture 2. Specify the type of actions, indicate the conditions of portability. 3. Composition of the Board of Directors, appointment of the Chairman, quorum of board meetings, voting arrangements. 4th General Assembly.

5. Appointment of CEO/MD. 6. Appointment of the Executive Committee. 7. Important decisions with the mutual agreement of the partners. 8. Dividend policy. 9.

Financial provisions. 10. Access conditions. 11. Changing control/exit clauses. 12. Anti-competitive clauses 13. Confidentiality 14. compensation clauses. 15. Disposal. 16.

Breaking the deadlock. 17. Dispute settlement. 18. Applicable law. 19. Force majeure. 20. Termination provisions. This type of agreement is preferred in situations involving a temporary or limited activity, or the joint venture must be set up for a limited time.

Foreign companies no longer need a Certificate of Complaint (NOC) from the Indian associated company for investments in the sector in which the joint venture operates. {5} prepare the Memorandum of Understanding and the statutes, in consultation with the partners of the joint venture, print them out and have them stamped accordingly and file the same with the necessary documents, such as the legal declaration u/s 33 of the Act 1956 (law) and Form 18 u/s 146 of the law on the address of the seat, with the taxes payable. Joint ventures can only be implemented for a given project if the company is called a consortium; or perhaps in the form of a permanent relationship. The creation of a new legal entity for specific purposes can also be described as a joint venture.