Pls. help me out in the following matters:
Our company is engaged in the business of real estate in Maharashtra& it is entered in to development agreement with another company in Maharashtra. Now, our company wants to handle over this development to one of our sister concern company. Therefore, our company wants to prepare Memorandum of Understanding (MOU) between the company & its sister concern. My question is:
1) What points should i be taken in mind for preparing MOU ? (Pls. help me out as I don't know anything about it.)
2) What is its (i.e. MOU) legal importance?
3) Whether it is registered or not?
4) If it is registered then at what value?(i.e. on Rs. 100 bond paper or Rs. 500 bond paper)
5) If anyone has the legal draft of MOU, pls.send it to me OR pls. let me know where I have found the draft of MOU.
Thanks in advance.