Business transfer agreement

Any agreement without consideration is invalid. Both companies has its different books of accounts and management. Secondly it can not be deemed as business transfer, since this is a project got by holding. This can only be assignment of works agreement to subsidiary with the approval of authority I.E. NHAI or state authority.

It is a case of transfer of contract for the project, not transfer of business, which can tend to infringement of the agreement conditions with the principal employer. By the way, how do you propose your subsidiary to claim the dues of the contract from the employer, when agreement is with the awardee company of the contract?