VJM & Associates: Helping Boost Business Setup in India
VJM & Associates LLP, a chartered accounting firm, helps boost business setup in India due to its strong economy and large client base. VJM &
Certain jobs or projects require large investments or involve high risks or sometimes also require multi-skills. An individual or a small firm may not be able to carry out this stand-alone project. Thus two or more individual or small firms fulfilling requisite skills and resources come together and form a temporary partnership. This temporary arrangement is called a joint venture. A memorandum of an undertaking is formed between the parties for this joint venture.
We at VJM & Associates LLP help in planning of joint venture proposals for various business entities sailing on our joint venture services parameter. VJM & Associates LLP works meticulously when it comes to building up a comprehensive archetype for the business. We aim at knowing the company inside out for the efforts to sail on expectations.
A joint venture implies a temporary partnership. In this, two or more persons/ entities come together for a specific period of time or for a specific purpose. The partners of this arrangement are called co-venturers. They share profits or losses in agreed proportion or equally as decided in the memorandum of understanding.
Every joint venture has two or more co-venturers. The co-venturers contribute to the joint venture with tangible and intangible assets. Hence, the co-venturers influence the joint venture through the following ways:
Formal agreement
Several legal documents are prepared and maintained along with the joint venture agreement which spells the scope of the venture, types of decisions, approvals, percentage of votes, etc. Also, some terms and conditions are set for day to day working of the venture.
Staffing
The co-venturers mutually decide amongst them as to how the staff required for the venture would be resourced. Also, the staff is introduced to each other for efficient working between them.
The employment of the existing staff is preferable as the venturers are known to them and their working style.
Technology sharing
The co-venturers provide available technology and knowledge. Also sometimes the technology is hired and employed for the joint venture
The transactions of businesses that are normally done through a joint venture are constructing bridges, roads, dams, seasonal purchase and sale of goods, film production, purchasing land to divide it into plots and sell, etc.
However, the motive behind forming joint venture are listed below:
The joint venture is work and job-specific. And so is very useful for turnkey projects. The major advantages of forming a joint venture are as follows:
The very first step is to assess why the joint venture is to be formed. Is it necessary to form a joint venture or the existing business can endure the proposed activity. Once it is finalized that a joint venture is essential, then the next is to search for the potential co-venturers.
It is vital that the co-venturers have identical objectives for the venture and have compatible operating policies.
After the search is done and the co-venturers are finalized, Then the team at VJM & associates assist in valuing the existing business and the venturers worth on the basis of the credit rating, financial statements, etc
Also, the resources available and those that can be utilized for the joint venture are assessed.
An agreement or memorandum of understanding is drafted and discussed with all the venture partners. VJM & associates have expertise in preparing such agreements and have an expert team to analyze the terms and conditions to be incorporated in agreement. Any loop-hole in agreement may lead to undue advantage to any of the co-venturers. Once the agreement is finalised, then all legal formalities are completed and the same is signed by all co-ventures.
During the lifetime of the venture, if the need ever arises, we are accessible to you. Also, the financials and accounting part is taken care of by the finance and account team of VJM & associates.
The profitability arising out of the venture is monitored time to time and distributed amongst the partners in the agreed ratio
Once the purpose of a joint venture is fulfilled, it gets dissolved. We also assist in the dissolution process.
The disposal or transfer of assets of the venture, the profit-sharing, and proper closure are included in the exit policy. We give the best advice for proper closure of the venture
Any other factors for a joint venture such as the following are also taken care of by VJM & Associates:
The team at VJM & associates LLP is designed in a way to cater to all your needs regarding Joint venture projects. We provide end to end solutions to all your queries and problems. The advice by us is unbiased and for the benefit of the venture and not for the benefit of a single person.
A business preparation between two or more organizations who share the governance, profit, return of investment, expense, ownership, etc for the benefit of synergy from the competitors, expansion, infusing capital, etc is called a joint venture
E.g. JV of Larsen & Tubros with MBDA for making guided weapons and guided weapons systems for India in India and same is formed by the name of L&T MBDA Missile Systems Limited.
The types of a joint venture are as follows:
Joint venture benefits include:
A joint venture involves co-operative arrangement among two or more entities aiming at starting a new business. The entities involved normally contribute capital and assets and share the profits and losses arising out of the venture.
VJM & associates is committed to assist you in all the legal, drafting, and forming processes of joint ventures. Further, all post incorporation services are provided for smooth running of business such as accounting, applicable regulatory compliances, resolving conflicts between co-ventures. Post completion of specified objectives, we help in formal closure of JV
Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.
We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.
We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.
We believe that open communication is the core principle in order to demonstrate trust, build long lasting and valuable relationships with clientele. We are committed to ensuring transparency in communication, service offerings and delivery.
Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.
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