The types of Joint Ventures in India can be defined as Vertical Joint Venture, Horizontal Joint Venture, Limited Liability Joint Venture, and Public-Private Joint Venture.
The exit of a partner from a joint venture involves a carefully structured process, including notification, valuation, negotiation, buyout, settlement of liabilities, and eventually liquidation and dissolution of the company.
The aggrieved party may seek legal remedies, including claims for damages or compensation, and can seek an injunction. The breach can lead to termination of the agreement and dissolution of the JV or the exit of the breaching party. Additionally, the dispute may be resolved through negotiation, arbitration, or litigation, as specified in the dispute resolution clause of the agreement.
