AGREEMENT TO ADOPT THE PRELIMINARY AGREEMENT
made at .......... this ........ day of ......... between M/s. PQ & Co.
Ltd., a Company registered under the companies Act, 1956 and having its
registered office at .......... hereinafter referred to as ''The Company'' of
the One Part and Mr. L residing at .......... and Mr. M residing at ..........
and Mr. N residing at ........ all collectively hereinafter referred to as
''the Promoters'' of the Other Part.
an agreement dated the ...... day of ........ entered into between the
Promoters on the one hand and Mr. X of the Other part it was agreed that the
Promoters will form and register a private company limited the shares with the
object of taking over the business in electronic goods carried on by Mr. X on
the terms and conditions therein mentioned.
the company being the party of the First Part hereto has been formed and
registered under the Companies Act 1956 on the day of
was one of the terms of the said agreement that on the registration of the
company, the company will adopt the said agreement.
a resolution of the Board of Director of the Company dated the .......... the
Board has resolved to adopt the said agreement and to enter into this agreement
for that purpose.
IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
company hereby adopts the said agreement dated ........... hereinbefore recited
and agrees to be bound by the same and the terms and conditions therein
mentioned relating to the purchase and taking over of the business of the said
M/s. X''s concern, as if the company was a party thereto and had agreed to purchase
or take over the said business from Mr. X on the terms in the said agreement
mentioned in place stead of the Promoters.
the company agrees and undertakes to comply with and implement all the terms
and conditions mentioned in the said agreement.
WITNESS WHEREOF the parties have put their hands the day and year first
for and on behalf of the )
M/s. PQ & Co. Ltd., by )
........ a Director duly )
to do so by the resolution )
the Board of Director dated )
in the presence of ... ... )
by the with in named )
L, M, N in the )
of ....... )