BUSINESS TRANSFER AGREEMENT

18/08/2018

Creative minds smart learning solutions PVT ltd

[Seller]

and

Sateesh academy
[Purchaser]

Hyderabad

BUSINESS TRANSFER AGREEMENT

THIS BUSINESS TRANSFER AGREEMENT (“​Agreement​”) is entered into on the 18/08/2018

BETWEEN​:

Creative minds smart learning solutions PVT ltd , a company duly incorporated under the [Companies Act,
1956/2009 and having its registered @ office at # 204, sirisampada hi-tech ,road no:36, kavuri hills,jubli
hills, Hyderabad through its Director Mr.Venkateswarlu Kamatam herein referred to as "the seller “ (herein
after referred to as the “​Seller​”, which expression shall, unless repugnant to the context or meaning thereof,
be deemed to mean and include its successors and assigns) of the ​FIRST PART​;

Sateesh academy a company duly incorporated under the [Companies Act, 1956/2014] and having its
registered at plot number 232,beside indian oil petrol bunk,kamalapuri colony,Sri nagar colony,HYD-73
(herein after referred to as the “​Purchaser​”, which expression shall, unless repugnant to the context or
meaning thereof, be deemed to mean and include its successors and assigns) of the ​SECOND PART​; and

(The Purchaser and the Seller shall be individually referred to as a “​Party​” and collectively referred to as
the “​Parties​”, as the context may require).

WHEREAS:

The Purchaser is an [Indian company] incorporated on and from 18/08/2014 and is engaged in
educational services.

The Seller has agreed to sell and the Purchaser has agreed to purchase the Business (as defined
hereinafter) on a slump sale basis and as a going concern on the terms and conditions of this Agreement.

Now this agreement witnessed as follows:

1.

a) Use in the trade name of ​creative minds ​ as desired by the seller from time to time.

 
 
b) ​Design or Appearance Standard of the company ​: design or appearance standard of the company (creative minds)
can be Modified by the seller .

c) ​Inclusion of Trademark, Logos. Styles​:- The ​seller ​shall include all distinctive styles, logos, trademarks and other
such items which have become identifiable, in their premises.

2. THE COST:

a) ​Initial Sale cost ​:- The Purchaser shall not charge any franchise fee except sale cost for giving it's name, brand
image, format, system and leverage to the ​Seller .

b) ​Soft & Hard copies : ​ The seller agreed to give all his materials they are as follows :

Hard copies :
ABACUS Colour books ​:

Level 1 - 1400

Level 2 - 2500

Each book cost is RS 125/-

Total Books cost is : 3900*125=487500

HANDWRITING - 600/-

Each book cost is RS 80 /-

Total Books cost is : 600*80=48000

ABACUS black and white books (approx )​:

Level. -1. 2000

Level. -2. 1000
Level. -3. 1000
Level. -4. 1000
Level. -5. 1000
Level. -6. 1000
Level. -7. 1000

Price:

Each book cost is RS 30 /-

Total Books cost is :8000*30=240000

Color abacus books 3900 Rs.125 Rs.487500

Black & White books 8000 Rs.30 Rs.240000

Hand writing books 600 Rs.80 Rs.48000

TOTAL COST OF THE MATERIALS RS.775500

Soft copies

1) colour and black and white books master copies

2) Question papers
3) flash cards
4) certificate

 
 
5) agreements ( school and Franchise)
6) brochures and flex ( E & T)
7) govt project proposals
8) website content

Support :

1) Business development ideas

2) school marketing training
3) project proposal for govt, NGOs, CSR

Method of Payment :
the purchaser has paid in cash Rs.20000 on 15/08/2018 .
Remaining Balance has to be paid to the seller as follows .

Date Amount Cheque number

02/09/18 20,000 080201

05/10/18 25,071 080202

05/11/18 25,071 080203

05/12/18 25,071 080204

05/01/19 25,071 080205

05/02/19 25,071 080206

05/03/19 25,071 080207

Total 170,426

Date Amount cheque Number

05/04/2019 1,00,000 080208

05/05/2019 1,00,000 080209

06/06/2019 1,00,000 080210

05/07/2019 1,00,000 080211

05/08/2019 1,00,000 080212

05/09/2019 1,00,000 080213

All Rules as implied from time to time shall be respected and accepted by the ​Purchaser,

I have clearly understood all the terms and conditions and agree to abide by them

 
 

​The Franchisee:

​The Franchisor
Mr venkateswarlu Kamatam
(Director Education)
Creative minds smart learning s Pvt. Ltd.