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Agreement or Deed for securing investment & returns agreed
24-May-2023 (In Documentation Law)
“A” has got License for the petrol pump dealership in his name. Due to insufficient funds “A” asked His friend B, to invest more 50 plus lacs amount in that petrol pump.
“A” has assured B, after 3 months of Petrol pump starts operating will execute Partnership Firm with B, with the permission from Petrol Company.
So, my question is that, what are the legal options for B?
How can B be get assurance from A, with executing legal document?
What deed or agreements can B get executed?
Please provide assistance.
Thank you.
Hi,
Well let's at the preliminary level first check whether permission to join in as a Partner is allowed/ or whether change in constitution is permitted by the government also in the tender document confirmed.
As far as investments are to be governed by contractual documents, we can have security created by way of Property Mortgage or by another form of security which A is agreeable. Lien can also be created by having control mechanisms created. Being in business operations should be a better option, for all practical purposes.
We are happy to assist on your queries and resolve all compliance and documentation processes.
Helpful?
Adv. Sarthak Shah
Mumbai | 100+ Answers
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This is my response to you:
1. Can A enter into a partnership with B?
2. Will the petrol pump allow that?
3. If yes then enter into a parternship deed;
4. Or enter into an MoU;
5. Enter into a contract which protects your interests as well;
6. Consult a local lawyer and take steps.
Helpful?
Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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