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Joint Venture Issue with an indian Company
14-Dec-2023 (In Arbitration Law)
i had a joint venture agreement with an Indain Co and now we would like to depart the agreement , what would be the condition based on india commercial code ?
please inform the terms of the agreement.
if there exists a clause of termination, then we can proceed with it.
first by sending a notice to the other party of the agreement and then by if they refute those conditions then we will have to initiate arbitration
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Adv. Garima Anil Mehrotra
Mumbai | 700+ Answers
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We understand that you had executed the Contract with Indian Co. normally in a Contract, grounds of termination are provided which would also include the manner in which either party can terminate.
Under Indian Laws, the terms of your contract would prevail subject to they being not illegal. If your Contract provides that you can terminate the Contract by giving notice, you should give notice of your intention to terminate.
Please be informed that this is preliminary view and we haven’t peruses your contract
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Adv. Manish G Varma
Mumbai | 25+ Answers
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Indian laws would later come in picture. Firstly it is important what the joint venture agreement says. If joint venture agreement reeks of ambiguity or unfairness then arrangement will be decided as per law.
You may provide more information for better analysis.
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