Whether a principal employer or not

Ours is a road construction company. We have entered into a license agreement with a pvt company for toll collection at one of our roads for one year. The pvt company is now asking us to issue FORM V to them. We had called for the legal opinions. One opinion says we should issue form V as we are princpal emplyer for them and another says we should not issue form V as its a license agreement and the work has been alloted as Independent eMplyer to the pvt company. Please advice..its urgent