Business Takeover Agreement Sample

This document can be used if a seller and buyer are preparing to enter into a new contract for the purchase of businesses. 11. The seller is responsible for the operations of the company and makes available to the company all the know-how and technical expertise. The seller receives remuneration, as decided by the board, but it will be no less than Rs. per month. 5. The seller is handicapped by a lack of means and it is in this knowledge that the organizers have approached the seller, proposing that the organizers create and register a Private Company Limited by Shares in accordance with the Companies Act 1956, and the company will take over the seller`s business, as well as all related assets, under the following conditions, which the seller has accepted. That acquisition contract shall be concluded and entered into force on [date of conclusion of the contract] by [name of undertaking], `buyer`, whose registered office is at [______] and [name of undertaking], `seller`, whose registered office is situated at [_____].] Buyers and sellers are in short called “parties” and sometimes individually referred to as “parties”. Buyer has had the opportunity to ask questions about the terms of the information set forth in this Agreement and to discuss otherwise. 5. The abovementioned transaction of the seller, together with the assets mentioned and the good-business or goodwill of the seller, which is, however, subject to the mortgage in question, shall be accompanied by Article 4.

Of this amount, an amount of Rs.__ was paid to the vendors by the project promoters for and for and on behalf of and for the benefit of the said proposed enterprise, as a sum of Rs, serious and out of balance. is addressed to the seller in cash and the balance of Rs. is paid and is considered to be paid by the allocation of equity shares of the nominal value of Rs. in the capital of that company. 2. Consideration. In return for the transfer of the transaction described above from the seller to the buyer, the buyer pays the seller the sum of ______ which the seller accepts in full by the buyer, subject to the conditions included therein. 7. Commit not to compete. The seller may carry on a similar activity within a period of _____ years from the date of conclusion or as long as the buyer or his successor does not carry out any similar transaction, either directly or indirectly, whichever happens first. For the purposes of this Agreement, “the transactions are similar to those of this transaction,” _____ The agreement addresses a large number of issues that may be relevant to the sale of businesses, including: (a) It is duly qualified under the laws of the ___ The business transfer contract is legally binding if it has been printed on a court stamp document or an electronic stamp document, signed and dated by both the seller and the buyer.

The value of the buffer paper depends on the state in which it is executed. Each state of India has provisions regarding the amount of stamp duty to be paid on such agreements. Information on stamp duty can be paid on the websites of the Land Government. For example, the website of the state of Karnataka provides details on the stamp duty to be paid on the agreements, as well as the Delhi website. 2. The name of the company will be. the name under which the seller carries on its business in question, subject to the authorization of the Registrar of Companies at the following address: If this name is not approved, the company will be given another name, which is acceptable to the seller and which is approved by the Registrar of Companies. . .


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Author: swillans