Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

abhijit (legal )     03 October 2009

contract with multinational company

a  pvt ltd company wants to enter into a contract with a multinational company of netherlands for supply of certain goods.

what is legal status of a multinational company?

what are procedures involved/

thanks



Learning

 4 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     03 October 2009

Multinational foreign companies are duly recognised in our country as per Companies Act. So no specific procedure is required and do as if collaborating with any India Company except the matters concerning to FERA and related acts.

abhijit (legal )     03 October 2009

Thank you sir for your answer. But this multinational company is not present in india.

It is in western country. and indian company wants to enter into export with this company.

what are guidelines for drafting this international agreement ?

and what are guidelines for further export to that company?

thanks and regards

N.Ramakrishnan (Advocate/ Senior Partner)     06 October 2009

Dear Mr. Abhijit,

All exports are bound by the usual FEMA regulations. There is nothin specific regarding the exports made to a multi national company with no operations in India. Exports are usually made on the basis of L/C or DA terms and the export proceeds will have to be realised in accordance with the FEMA regulations. The docs are as usual negotiated through banks / authorised dealers. Take care to ensure that the goods exported do not fall within the restricted category.

Thanks

N. Ramakrishnan, ADV 

 

abhijit (legal )     07 October 2009

thank you very much sir .


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query