joint venture business

VIJAY K. TEOTIA (Querist) 19 May 2010 This query is : Resolved
A is manufacturer and B is a marketing company. bothe registered under company's act. anther company C is registered under dubai law. A and B agrees to do marketing internationally a product of A under the banner of C. for this purpose a joint venture agreement/MOU signed. is there any legal bar to sign such agreement, is registration required and is it legally enforceable.

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Manish Singh (Expert) 19 May 2010
no legal bar. it is not required to be registered. it is legally enforceable depending upon the cause of action.

check the RBI guidelines for permissible royalties which u cn pay to C.

harsh asthana (Expert) 20 May 2010
Ther is no legal bar and registration is not required but see to it that MOU is drafted with finer details so as to avoid any unpleasent litigation at a later date

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