![]() No amount shall be distributed to the withdrawing or defaulting Joint Venturer pursuant to Subsection 20(A)(4). Notwithstanding the foregoing, the withdrawing or defaulting Joint Venturer shall be responsible for all liabilities of the Joint Venture incurred through dissolution as provided in Subsection 20(A)(1), (2) and (3) before such party's withdrawal or default (and, in the case of a defaulting Joint Venturer, all liabilities arising from such default). In the event that BET is the withdrawing or defaulting Joint Venturer, BET shall not use the name "BET Weekend" for a period of twelve (12) months from the date of termination of the Joint Venture. Withdrawal From Joint Venture. If either Joint Venturer withdraws from the - Joint Venture, prior to its expiration in accordance with Subsection 19(B)(2) or if an event described in Subsection 19(B)(1) occurs, then the non- withdrawing or non-defaulting Joint Venturer, as the case may be shall be permitted to proceed with the operation and distribution of the existing Supplement provided, however, in any event the Daily News shall have no continuing rights in, and shall promptly discontinue all use of the name " BET Weekend". If within a 60 day period both Shareholders elect to withdraw, then the Joint Venture shall instead be deemed to have been terminated by the written agreement of the Shareholders pursuant to Section 18.1 and the Parties shall proceed to take all necessary action to dissolve (i) Salu Siwa in accordance with Australian Corporate Law and any other applicable law and (ii) PT Masmindo in accordance with Indonesian Corporate Law and any other applicable law. The withdrawing Shareholder shall execute and deliver all instruments as may be necessary in the reasonable judgement of the other Shareholder to effect the transfer of its Shares in Salu Siwa to the other Shareholder. Subject to the foregoing sentence, 60 days following the withdrawal by a Shareholder, the withdrawing Shareholder shall be deemed to have Transferred to the remaining Shareholder all of its Shares. A Shareholder may elect to withdraw from the Joint Venture by giving notice to the other Shareholder of the effective date of withdrawal, which shall be the later of the end of the then current Program period or 30 days after the date of the notice. Asset Sharing: Joint venture agreements give cooperating businesses access to and usage of assets like human resources, intellectual property, and technology.Withdrawal From Joint Venture.This encourages working organisations to complete the assignment successfully and without running the danger of failing Sharing Risks And Benefits: In JV agreements, risks and benefits may be shared and distributed.For companies that use 100% FDI, it is a minimum liability alternative Minimal Liability: Joint venture agreement enables businesses to preserve their own legal identities.Overcoming Legal Obstacles: Joint Venture agreements are more desirable because certain businesses and sectors may not be open to foreign investment due to legal restrictions.Foreign businesses can comprehend market trends and adjust their development accordingly ![]() ![]() Cultural Alignments: It aids businesses in adjusting to emerging markets.It is more economical, time- and energy-efficient to obtain these resources alone. Cost minimisation: Cost minimisation of more resources, including office space and access to suppliers and distribution networks, may be the result of a successful collaboration of joint venture agreement.Joint venture companies are not exempt from these requirements. Joint venture companies are generally not subject to corporate income tax, but may be liable for other taxes such as GST (goods and services tax) and VAT (value added tax).Further, all businesses in India are required to comply with various labour laws, such as those relating to wages, working hours, safety, and social security. The requirements for Joint Venture Agreement vary depending on the nature of the business and the jurisdiction in which it is located.For example, if the joint venture company will be engaged in manufacturing, it will need to obtain necessary licenses and permits from the relevant authorities.The tax treatment of joint venture in India can also vary depending on the nature of the business and the structure of the ownership. Once the project is completed, the joint venture company is often dissolved.Setting up a joint venture in India requires compliance with various legal and regulatory requirements. ![]()
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