licence. The joint venture agreement
does not specify the period for which the joint
venture was to remain in force. The joint venture
agreement however ... management of the joint venture company. This has
resulted into ultimate termination of the joint
venture by issuance of a deadlock notice after
which with
joint venture agreement having been terminated, the function of the joint venture company has disappeared and substratum of the joint venture company no longer exists ... petitioner strenuously urged that the two groups are deadlocked and joint venture company has lost its substratum inasmuch as it no longer functions
Kocha
and Capital Controls (Delaware) Company,
Inc. set up joint venture company -
Capital Controls India Private Limited
(the company) in Mumbai with the object ... intransigence
of Chloro Controls (India) Private
Limited, there was total deadlock on
joint venture and management. Despite
several meetings between the parties and
exchange
number of important issues concerning the Joint Venture's continued operation, as contemplated by the Joint Venture Agreement dated April 24, 1995, as amended ... failure o reach agreement on (a) the Joint Venture's depletion goals: and (b) the Joint Venture's marketing plan, including the level
joint agreement on the basis of the grounds available in the Joint Venture Agreement. However, prima facie, it appears that there has occurred a deadlock ... that later on a deadlock occurred inasmuch as after agreeing to certain terms on the basis of which amended Joint Venture Agreement was prepared
able to along well, situation of deadlock is inevitable. Black's Law Dictionary defines deadlock as under:
Deadlock 1. A state of inaction resulting ... also a joint venture agreement between the parties which ultimately resulted in formation of the company. The Joint Venture agreement supports the view that
argument that joint ventures are in
general governed by the rules of partnership; the relationship of the
parties to a joint venture and the nature ... hold
that there is no deadlock in the company; when the equal participators
in the joint venture have fallen out and Group B had ousted
along well, situation of deadlock is inevitable. Black's Law Dictionary defines deadlock as under:
"Deadlock, , 1. A state of inaction resulting from ... account of these differences deadlock occurred inasmuch as after agreeing to certain terms on the basis of which amended joint venture agreement was prepared
termination of the Joint Venture Agreement between the petitioner BFML and Jagatjit, Respondent No. 2, the substratum of the Joint Venture Company was also lost ... against the Joint Venture Company. Jagatjit claimed that the liabilities of the Joint Venture Company are payable exclusively by the petitioner and deadlock averred
formed a joint venture, the 1st Respondent, Capital Controls
(India) Private Limited ("Capital Controls India"). The joint
venture was set up in Mumbai ... There was, by then, it seems a
complete deadlock in the management of the joint venture. Several
meetings and attempts at a resolution
