Shareholders Agreement

Updated at:March 2010
 
FREE EXCERPT

SHAREHOLDERS AGREEMENT

BETWEEN

____________________

AND

RE: Shares of ----------------------Pvt. Ltd.

THIS AGREEMENT made the ____ day of ______, 2003 BETWEEN MR_B residing at _____________________ (hereinafter referred to as "A") (which expression shall, unless repugnant to the context or meaning hereof, mean and include his heirs, executors, administrators and assigns) of the First Part.

And

MR. B residing at __________________________(hereinafter referred to as "B") (which expression shall, unless repugnant to the context or meaning hereof, mean and include his heirs executors, administrators and assigns) of the Second Part.

And

________________________ (P) LTD., a Company incorporated under the Companies Act, 1956 and having its registered office at _____________________ herein represented by its ___________ (hereinafter referred to as "XYZ") which expression shall, unless repugnant to the context or meaning hereof, include its successors and assigns) of the Third Part;

WHEREAS:

  1. A and B hereto have agreed to jointly manage a company in India named "XYZ Pvt Ltd ";

  2. A and B have agreed to become Equity Partners by investing in the shares of the Company subject to the condition that they shall enter into a Shareholders Agreement in terms of these presents;

  3. The Company "XYZ PVT. LTD. " has been requested to, and has agreed to, join in the execution of these presents and to take this Agreement on record so that it is aware of the rights and obligations of A AND B, the parties hereto and ensure that they comply with the same;

  4. The parties hereto are desirous of recording the terms and conditions of their Agreement in writing;

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:-

  1. (a) A and B shall jointly invest in the Company which

    is an existing company limited by shares under the Companies Act,

    1956 and known as "XYZ PVT LTD".

    (b) The registered office of the Company shall be situate at ________________, or at such other places as may be mutually agreed upon between the parties in writing.

    (c) The Company shall carry on the business of running and managing restaurants and (Description of the business and complete address), either by itself or through other agencies or company industries and may carry on any other business as may be decided by B hereto and shall ensure that no other business activity is undertaken by the Company at any time without the consent of A hereto.

  2. The authorised share capital of the Company is Rs.________/- (Rupees ___________________ only) consisting of...

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