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AGREEMENT
THIS
SHAREHOLDERS
AGREEMENT
made
at
Mumbai
this
(I) ..;
(II) ; AND
1.
DRAFT
(b)
under
their
various
in
the
registered
trade
industrial
marks
sectors
of
need
to
(c)
The
recognizes
the
.
(d)
(e)
(f)
(g)
(.)
each,
which
the
Company
may
(i)
Mr. .
And
(2)
(j)
Mr. .
DRAFT
(k)
(..)
(ii)
.
()
(l)
----------Total
========
. can be invited to participate in the
Company
after
joint
agreement
between
parties
(o)
(p)
(q)
2.
DURATION:
(a)
The Company shall use its best efforts and endeavors for
with protection of all the Intellectual
Property Rights of Mder. If any disagreement arises between
DRAFT
the parties at any stage, the Company will be dissolved or
wound up (in accordance with the provisions of the
Companies Act, 1956) or taken over by one group and all the
rights and obligations of the parties shall come to an end as
set out hereinafter.
4.
(i)
(ii)
(iii)
______________________
(iv)
(v)
(vi)
______________________
DRAFT
(ii)
DRAFT
(c)
(d)
5.
SHAREHOLDERS MEETINGS:
All Shareholder Meetings shall be held in accordance with the
following procedures:
(a)
(b)
(c)
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each of the shareholders in accordance with this Agreement,
the Charter Documents and the requirements of Law. If no
quorum is present, the meeting shall be adjourned to the
same day, place and time in the next succeeding week (it
being understood that the agenda for such adjourned
meeting shall remain unchanged) until such time as the
required
quorum
is
present.
Actions,
decisions
and
Meetings
by
proxy,
teleconference
or
6.
DRAFT
(a)
7.
(ii)
(iii)
and
other
intellectual
properties
and
..
..
DRAFT
*
..
..
..
.
(v)
in
and
to
undertake
To plan, set up, and establish the Company for all its
operational purposes
(vii)
manufacturing,
supervision,
Marketing,
(ix)
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Charges, Property Taxes, etc., and further to meet with
all the expenses of the Company.
(x)
(xi)
(xii)
The
Company
shall
indemnify
each
Director
incurred
in connection
10
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negligence,
willful
misconduct
or
fraud
of
such
Indemnified Persons.
(xiii) It shall not issue any additional Equity Shares or
convertible instruments after the date hereof without
the unanimous written consent of all the shareholders
of the Company and this restriction is with a view to
ensure that the agreed ratio of shareholding of the
.
(b)
(ii)
To permit and make available its technology, knownhow, patent, name, trademarks, processes, intellectual
property and diversified methods and aspects of
manufacturing and marketing to the Company and to
make
available
appropriate
technical
support,
11
DRAFT
Company to the extent of its share holding in the
Company.
(iii)
To
provide
assistance
and
co-operation
to
the
institutions
either
jointly
with
the
...
(iv)
To assign its existing clientele in India and Indian subcontinent in favour of the Company so that the
Company can operate as its sole representative for the
said regions.
(v)
(vi)
(vii)
information
brought
into
the
company
12
DRAFT
(ix)
(c)
(ii)
(iii)
of
paints
and
coating
products
presently
(v)
(vi)
To
provide
assistance
and
co-operation
to
the
13
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(vii)
information
brought
into
the
company
8.
BREACH,
TERMINATION,
TERMINATION:
(a)
AND
CONSEQUENCES
OF
14
DRAFT
termination shall be without prejudice to the other rights
and remedies available to the parties in law.
(b)
(ii)
(iii)
notice
sent
by
the
and
the
9.
15
DRAFT
(a)
Acquisition
or
Merger
of
..
or
the
(iii)
(iv)
10.
11.
12.
DRAFT
(a)
(b)
13.
This Agreement
17
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(b)
(c)
14.
ADDITIONAL DOCUMENTS:
The parties shall from time to time execute and deliver such
further documents as may be reasonably required to give proper
and true effect of and to this agreement.
15.
INVALIDITY:
If any term or provision in this Agreement is held to be illegal or
unenforceable, in whole or in part, under any enactment or rule of
law, such term or provision or part to that extent will be deemed
not to form part of this Agreement but the enforceability of the
remainder of this agreement will not be affected.
16.
WAIVER:
18
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such waiver shall be effective unless set forth in a written
instrument duly executed by or on behalf of the party waiving
such term or condition. No waiver by any party of any term
or condition of this Agreement, in any one or more instances,
shall be deemed to be or construed as a waiver of the same or
any other term or condition of this Agreement on any future
occasion. All remedies either under this Agreement or by law
or otherwise afforded, will be cumulative and not alternative.
17.
18.
(ii)
.
..
_________________
_________________
19.
19
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(a)
The parties shall at all times and from time to time comply
with the rules, regulations, notifications of Indian laws
including of the Reserve Bank of India (RBI), The Securities
and Exchange Board of India (SEBI) and/or any other
statutory body or authority and to comply with provisions of
the Foreign Exchange Management Act, 1999 (FEMA),
Companies Act 1956 and other statutory provisions. The
parties shall co-operate each other for the same.
(b)
(c)
controversies
arise
relating
to
this
agreement
or
interpretation thereof or as to any non compliance, nonpayment, breach of termination or any other matters
incidental
or
consequential
thereto,
the
parties
shall
20
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such proceedings shall be submitted in their original
language with an English Translation.
(d)
(e)
Notwithstanding
the
foregoing,
each
Party
hereby
(g)
Withinnamed .
..
21
DRAFT
)
..
. )
.
Withinnamed ..
..
.
.
..
22