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This schedule outlines the terms of a Memorandum of Understanding between two parties. It details:
1) Total payment of Rs. 30,00,000 to settle all claims and liabilities of the first party against the second party.
2) Outstanding amounts payable of Rs. 8,70,000 and Rs. 3,70,000 by the second party to two individuals.
3) Monthly payments of Rs. 42,000 that the second party has been making since February 2017 and agrees to make for the next three years.
This schedule outlines the terms of a Memorandum of Understanding between two parties. It details:
1) Total payment of Rs. 30,00,000 to settle all claims and liabilities of the first party against the second party.
2) Outstanding amounts payable of Rs. 8,70,000 and Rs. 3,70,000 by the second party to two individuals.
3) Monthly payments of Rs. 42,000 that the second party has been making since February 2017 and agrees to make for the next three years.
This schedule outlines the terms of a Memorandum of Understanding between two parties. It details:
1) Total payment of Rs. 30,00,000 to settle all claims and liabilities of the first party against the second party.
2) Outstanding amounts payable of Rs. 8,70,000 and Rs. 3,70,000 by the second party to two individuals.
3) Monthly payments of Rs. 42,000 that the second party has been making since February 2017 and agrees to make for the next three years.
of Memorandum of Understanding dated -- -- 2017 entered and executed between the parties of which names and description given in said MOU. ----------------------------------------
(A) Total payments/ Purchase consideration
as to set off the claims and dues of party(ies) of the first part from second party as full and final settlement for liabilities and outstanding lying in the books of accounts of Dark Hors Investment Solution and Dark Hors Insurance Marketing (P) Ltd. which includes ex-gratia payment for Non- Disclosure Covenants of MOU is Rs.30,00,000/- (Thirty Lakhs Only).
(B) Outstanding/ liabilities and all claims
of Smt.----------------- in Dark Hors Investment Solution was Rs. 11,00,000/-
Less : Payments already made Rs. 2,30,000/-
Balance Payable 8,70,000/-
This payment is to be made after three years
along with compound interest @ 12% per annum. (C) Outstanding/ Claims payable in Dark Hors Insurance Marketing (P) Ltd. of Sh.---------- ---------------------------is Rs.4,90,000/- Less : Payment already made is Rs.1,20,000/- Balance Payable Rs.3,70,000/-
The payment(s)/outstandings in firm and
company is to be paid at the time of signing and execution of present MOU.
(D) Besides above payments an amount to the tune
of Rs.42000/- per month which the second party is regularly paying since February, 2017 which first party acknowledge as received and same is to be paid for next three year. (E) And after three years a sum of Rs.14,10,000/- is to be paid alongwith interest @ 12% p.a. IN WITNESSES WHEREOF, the parties have their respective signatures/thumb impression on this Memorandum of Understanding on the day, month and year first mentioned above, in the presence of the following witnesses:- Party(ies) of the First Part