Ince & Co Singapore advises The Warranty Group on expansion through joint venture
Ince & Co Singapore has represented The Warranty Group (TWG) in its joint venture with TVS Automobile Solutions. The joint venture company (based in India) will offer extended warranties and related services and solutions throughout India, Bahrain, Kuwait, Saudi Arabia, the UAE, Qatar, Bangladesh and Sri Lanka.
The joint venture company will initially focus on automobile, light truck and two-wheeler vehicle segments and then intends to expand into the appliance, technology, electronics and other consumer products categories.
Products offered will include a range of service contracts, extended warranties, limited warranties and prepaid maintenance programmes.
While the know-how for the business, intellectual property and historical claim data (worldwide) is to be provided by TWG, the regional expertise, customer relationship and administration support is to be provided by TVS. TWG owns 49 per cent and TVS owns 51 per cent of the issued shares and convertible debentures in the joint venture, with control being exercised equally by the shareholders.
Ince & Co senior associate Kunal Kapoor led the team that advised TWG. Martin David, Carolyn Chia and Aruno Rajaratnam supported Kapoor.
News from Ince & Co
News from The Lawyer
Briefings from Ince & Co
Damages for breach of terms as to quality — does the Sale of Goods Act limit such damages to depreciation in value?
This sale contract dispute provides a useful refresher with regard to the proper application of the provisions of sections 53 and 54 of the Sale of Goods Act 1979.
On 1 August 2014, the ‘Provisional Measures on the Collection of Tax on Non-Resident Taxpayers Engaged in International Transportation Business’ came into force.