EXHIBIT 10.29
SHARE PURCHASE AGREEMENT
This Agreement is made this 3rd day of October, 2006 between Shri. Xxxx Xxxxxxx,
son of Shri Xxxxxxxxxxxx Xxxxxxx residing at 00, Xxxx Xxxxxx, Xxxxxx, Xxxxxx
Xxxxxxx, hereinafter called the Party of the First Part (which expression shall
unless repugnant to the context be deemed to include its heirs, executors and
assigns) and Sterlite Industries (India) Limited, a Company registered in India
represented by its Director Shri Xxxxx Xxxx, hereinafter called the Party of the
Second Part (which expression shall unless repugnant to the context be deemed to
include its administrators, executors and assigns).
Whereas the Party of the First Part is holding 1 (one) share of Rs.100/- each
of Sterlite Energy Limited, a Company registered in India under the Indian
Companies Act, 1956.
Whereas the said Sterlite Energy Limited is in the process of setting up a mega
Power plant of 2400 MW in the State of Orissa and has committed substantial
investment in the said Project.
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Whereas the promoters of the Party of the Second Part have experience and
expertise in setting up such mega projects and have expressed its willing and
agreed to buy the entire shareholding of the Party of the First Part in the said
Sterlite Energy Limited on the terms and conditions hereinafter appearing.
Now this indenture witnesseth as follows:-
1. That the Party of the First part hereby agrees to sell and transfer 1
(one) equity share of Rs. 100/- each to the Party of the Second Part at
a consideration of Rs. 100/- per share.
2. That the Party of the Second part has agreed to pay a sum of Rs. 100/-
(Rupees one hundred only) to the Party of the First part in lieu of said
shares purchased by it and has paid the said amount to the Party of the
First part by way of Cheque No. 084747 dated 3.10.06 drawn on ICICI
Bank, Tuticorin.
3. That the Party of the first Part acknowledges the receipt of the said
sum of Rs. 100/-(Rupees one hundred only).
4. That the Party of the Second Part has hereby handed over the following
share certificates along with duly executed share transfer deeds which
the party of the Second part hereby acknowledges and confirms.
S1. SHARE CERTIFICATE NO. DISTINCTIVE NOS NO OF SHARES
FROM TO
1. 1 1 1 1
TOTAL 1
5. That the Party of the first part hereby confirms that the shares being
sold and transferred herein are free from all encumbrances, charges etc
and have not been pledged or mortgaged and are available for sale.
6. That the Party of the First part hereby confirms that all the applicable
taxes in respect of the present shares will be borne by the Party of the
First Part only and the Party of the Second part shall in no way be
responsible for any kind of taxes whatsoever.
7. That the Party of the Second Part agrees to deliver information in
regard to the present transaction to the Reserve Bank of India in the
relevant form within the time as applicable.
8. That both the parties hereby confirm that they shall further record any
deed or recitation if needed.
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9. That if any difference or dispute arises in between the parties herein,
the same shall be governed by the Jurisdiction of the Mumbai High Court.
In witness whereof the parties have subscribed their hands on the day, month and
the year above first written.
Witness:-
1. /s/ V. S. Ganesh
(V. S. Ganesh)
/s/ Xxxx Xxxxxxx
(Xxxx Xxxxxxx)
(PARTY OF THE FIRST PART)
2. /s/ X. Xxxxx
[X. Xxxxx]
For Sterlite Industries (India)Limited
/s/ Xxxxx Xxxx
(Xxxxx Xxxx)
Director
(PARTY OF THE SECOND PART)
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