convergence date; (E) adjustments relating to investments in subsidiaries, joint ventures and associates recorded at fair value as deemed cost in accordance with paragraph
section shall apply to any agreement entered into by way of joint ventures if such agreement increases efficiency in production, supply, distribution, storage, acquisition
noticed that the foreign company had seconded four
expatriates to the Joint Venture in India; that, the tax-deductor-assessee was a
Joint Venture Company ... that, the appointment of the four expatriates was
routed through the Joint Venture Board comprising of the Indian Partner, viz.,
M/s Ranbaxy
while a joint venture is a special combination of two or more
persons where, in some specific venture, a profit is jointly sought without ... salaries by joint agreement."
(emphasis supplied)
22
Black's Law Dictionary (7th Edition, page 843) defines `joint venture' thus :
"Joint Venture
Bombay being
Suit No.233 of 2004, for declaration that the joint venture agreements
and supplementary collaboration agreement entered into between some of
the parties ... also sought a
direction that the scope of business of the joint venture company,
Respondent No. 5, set up under the said agreements includes
their tender offer NHL had mentioned that :
(i) NHL is a joint venture company
established by Thomson Press (India) Limited
(TPI), Living Media (India) Limited ... group and
40% of shares are held by IIPL;
(ii)The joint venture has received approval
of the Government of India and is currently
subsidiary company of the company having such influence and includes a joint venture company. [[Explanation.— For the purposes of this clause, “significant influence” means control
distribution and licensing agreements; (x) management and consultancy agreements; (xi) joint venture agreements; (xii) shareholders agreements; (xiii) subscription and investment agreements pertaining to the services
Central Coalfieds Limited vs Sll-Sml (Joint Venture Consortium) . on 17 August, 2016
Author: Madan B. Lokur
Bench: Madan B. Lokur
REPORTABLE
IN THE SUPREME ... Central Coalfields Limited & Anr. .…Appellants
Versus
SLL – SML (Joint Venture Consortium) &
Ors. ….Respondents
WITH
CIVIL APPEAL NO. 8005 OF 2016
PLR-RPL – SMASL
offer some of its
discovered oil fields for development on a joint venture
basis. Its decision in this regard was that medium sized
oil fields ... will be offered for development under the joint
venture with the participation of the Oil and Natural Gas
Commission (ONGC)/the Oil India Limited