Joint venture agreement
atul
(Querist) 10 November 2011
This query is : Resolved
Sir, we are a construction co. engaged in road construction work.
1) We wish to form a Joint Venture Firm with another firm, but the registrar of firms says that the two firms cannot form a Joint Venture Firm. We had applied for a Joint Venture Firm with the name of PMA Construction Co. (JV), but the ROF says that PMA Const. Co. is already registered and therefore the JV Firm cannot be registered with the same name as the both firms are engaged in the same nature of business. Our argument is that we are forming a JV firm and added the '(JV)' word to the name of new firm. But they are not convinced. We have made the agreement with the name of "PMA Construction Co. (JV)" and issued a tender form to participate.
2) secondly, can we give a title to the JV firm as "Agreement of Joint Venture" instead of "Deed of Partnership" as the new firm is joint venture for a specific work and not a regular firm.
3) The ROF says that the Joint Venture cannot be registered with office of the ROF. The ROF also added that the two firms cannot form a new firm with any name. The new firm should be formed by the partners only and not by the firms. Is it true ?
Kindly guide us on this. Thanks.
ajay sethi
(Expert) 10 November 2011
you can afford lawyer fees. consult a local lawyer
Arvind Sehdev
(Expert) 11 November 2011
Totally agree with Mr.Sethi...
Mr.Atul you should consult a local Lawyer.
Shonee Kapoor
(Expert) 11 November 2011
:-)
But what is the procedure Mr. Sethi, even I would like to know.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
prabhakar singh
(Expert) 11 November 2011
@ Shonee kapoor!
I think registrar is rightly objecting.
A partnership firm is simply a collective name of all its partners and its registration with registrar of firms does not make it any
JURISTIC PERSONALITY,it just enables its partners to sue people dealing with it.
Then two partnership firms can not enter into
any JV but of course its' partners can.
ajay sethi
(Expert) 11 November 2011
it was collectively decided that we should not answer commercial queries as these litigants can easily afford legal fees . hence have not answered shone. in any case prabhakar singh has answered your query
prabhakar singh
(Expert) 11 November 2011
You are rightly agitated sir! but i touched the query only as Expert Shonee Kapoor personally wanted to know about.
