Exhibit 10.35
PURCHASE AGREEMENT
This agreement is made as Phase I of two phase agreement between Research
Engineers Private Limited (Indian Registered Company and a wholly owned
subsidiary of Research Engineers, Inc. - a publicly-traded U.S. Company) and
Techna Consultancy Private Limited (a company registered under the Indian
Companies Act, 1956).
a) Research Engineers Private Limited (hereinafter referred to as REPL) will
purchase all the assets of Techna Consultancy Priviate Limited (hereinafter
referred to as TCPL) mainly owned by Dr. Alo Ghosh (hereinafter referred to
as AG).
b) Assets to include facilities in Calcutta, Delhi and Ranchi.
c) Assets also include Apple Multimedia systems in Ranchi, 30 new P-II (266MHz)
computers in Calcutta, Telco Bus in Calcutta, Furniture and Computers in
Delhi.
d) Total Purchase price agreed at Rs 44,00,000/- will be paid in Indian Rupees
for the fixed assets in India.
e) Both REPL and TCPL will make best effort to complete the Phase II by 15th
September 1998.
f) This Agreement will act as the binding on both REPL and TCPL for a period
upto 31st December 1998.
IN WITNESS WHEREOF, the parties have executed this agreement:
Research Engineers Private Limited Techna Consultancy Private Limited
/S/ XXXXX X. XXX /S/ DR. ALO GHOSH
---------------- -----------------
Signature Signature
Name: Xxxxx X. Xxx Name: Alo Ghosh
Title: Managing Director Title: Director
Date: August 13, 1998 Date: August 13, 1998
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