Cancellation of foreign agreement

jayesh (Querist) 06 April 2015 This query is : Resolved
x (indian company) has signed an agreement with a german company for 10 years. stating that it will use its technology and x company will pay royality of USD 2000 per anumn for the same. Suddenly x company feels that the technology will not work in indian market and wants to cancel the agreement. is it possible ? and what is the procedure agreement is already signed

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Guest (Expert) 06 April 2015
Any reply to your casual query may not serve your purpose. Terms of agreement needs to be examined in detail before forming any appropriate opinion for guidance.

Kumar Doab (Expert) 06 April 2015
The agreement should be examined.

Rajendra K Goyal (Expert) 07 April 2015
All the terms and conditions of the agreement need to be referred, consult local senior lawyer.

ajay sethi (Expert) 07 April 2015
commercial query . company can afford legal fees

Dr J C Vashista (Expert) 08 April 2015
I agree with the expert advise of Mr. Sudhir Kumar, consult a local lawyer.

T. Kalaiselvan, Advocate (Expert) 11 April 2015
Agreed to the views of experts, company can afford lawyer's fees, should consult an advocate locally.

H.M.Patnaik (Expert) 27 February 2016
Nothing more to add.

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