Joint Venture Agreement

Requisites of setting up a Joint Venture Abroad

An application under Section 372 ( 4 ) is to be made in the relevant form to the Central Government department of Company Affairs.
An application under the prescribed form has to be made as per the provisions of FERA (Foreign Exchange regulation Act.) in order to get the requisite permission from the Government of India.
In order to export plant and machinery from India for the purpose of a joint venture an application is sought for seeking permission from the Reserve Bank of India.
In the case of an Indian companies sending representatives abroad an application is to be made to the Reserve Bank of India for exchange in the prescribed Form.
A licence is to be sought from the Reserve Bank of India to hold shares and securities abroad.