Undertaking
CS Sandip
(Querist) 08 October 2009
This query is : Resolved
Dear frdz
Please send me undertaking format if any.
We are purchasin one comapny and taking the undertaking from the front party regarding non-filing of suit and to co-operate us in future.
waiting.
PJANARDHANA REDDY
(Expert) 08 October 2009
PLEASE CONSULT ONE ADVOCATE TO INCLUDE ALL CLAUSES, LEGAL ANGLES OF FUTURE LITIGATION OF COMPANY AFFAIRS..IT DEPENDS UPON THE ENTITY OF THE COMPANY, SIMPLE UNDERTAKING FORMATS MAY NOT SOLVE FUTURE LITIGATION.
Sachin Bhatia
(Expert) 08 October 2009
Better to consult local lawyer he will help you in drafting the matter.
Raj Kumar Makkad
(Expert) 08 October 2009
The opinion of P janardhana is correct.
A.P.Manoranjan
(Expert) 09 October 2009
Mr.Sandip,
Your quierry is not complete. Why you want an undertaking from front party on purchasing a company? Please consult an Advocate giving more details.
CS Sandip
(Querist) 09 October 2009
See m taking the undertakin from front party for :
UNDERTAKING from front party for non-filing any suit against the companies namely in the courts for any cause including interruption in the smooth running of the companies and to co-operate with us for finalizing accounts, Statutory Audit, Income Tax proceeding, other property and taxation matters and any further information relating to company.
A.P.Manoranjan
(Expert) 10 October 2009
Dear Mr.Sandip,
As I understand that you are acquiring majority share holding of a public limited company. In such a case an agreement(Share holder's agreement&Share Subscription agreement)need to be executed wherein several clauses will be included.One such clause is undertaking.These clauses are drafted keeping in view of Indian Companies Act.I suggest that you please consult an advocate.
