AGREEMENT
BETWEEN
AND
TO PROMOTE A COMPANY TO BE KNOWN AS _
THIS AGREEMENT made at the _ day of ____, 2000 BETWEEN
______________ LTD., a Company incorporated under the Companies Act, 1956 having its registered office at __ (Hereinafter referred to as “A” which expression shall unless repugnant to the context or meaning thereof include its successors and assigns) of the ONE PART AND MR. B, Resident of India residing at ______________ (Hereinafter referred to as “B” which expression shall unless repugnant to the context or meaning thereof include his/her heirs and legal representatives) of the OTHER PART;
WHEREAS:-
A. The parties hereto have agreed to jointly promote and incorporate a company in India to carry on the business of _______;
B. The parties hereto have agreed to subscribe to the shares of such company subject to the condition that they shall enter into an Agreement in terms of these presents;
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:-
1.
a. The parties shall jointly promote forms and incorporate a private company limited by shares under the Companies Act, 1956 or any statutory modification or re-enactment thereof for the time being in force under the name ____ (Hereinafter called “the Company”).
b. The registered office of the Company shall be situated in Mumbai at ________ or at such other place as may be mutually agreed upon between the parties in writing.
c. The Company shall, upon its incorporation, carry on the business of _______. The parties hereto shall ensure that no other business activity is undertaken by the Company at any time without the prior written consent of both parties hereto.
- The Memorandum and Articles of Association of the Company shall be in a form mutually agreed upon in writing between the parties hereto. The Memorandum and Articles of Association shall include such of the provisions contained herein as can be lawfully included therein. Any alteration of the Memorandum or Articles of Association of the Company shall be made only with the prior written consent of the parties hereto.
3.
a. The authorised share capital of the Company upon incorporation, shall be Rs./- (Rupees _____________only) consisting of _ equity shares of each. The paidup share capital of the Company upon incorporation shall be Rs./- (Rupees _________________only) consisting of equity shares of each fully paid. The initial subscription by the parties hereto to the aforesaid paid-up share capital of the Company shall be Rs./- (Rupees ____ only) each. The issue of any further capital by the Company shall be made at each time and in such manner as is mutually agreed upon between the parties from time to time….
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