##### 



Exhibit 4.1
 DATED APRIL 20, 2007
 SHARE PURCHASE AGREEMENT
 AMONGST
 THE SELLING SHAREHOLDERS
 AND
 MARKETICS TECHNOLOGIES (INDIA) PRIVATE LIMITED
 AND
 WNS (MAURITIUS) LIMITED




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SHARE PURCHASE AGREEMENT
 THIS SHARE PURCHASE AGREEMENT Agreement th
 AMONGST
 1.
    
    The Persons more fully mentioned in Schedule 1hereto who shall be
singularly referred to as the SELLING SHAREHOLDER and collectively
as the SELLING SHAREHOLDERS which expression shall unless otherwise
stated in this Agreement, include its successors and permitted assigns
of the FIRST PART;
 AND
 2.
    
    MARKETICS TECHNOLOGIES (INDIA) PRIVATE LIMITED, a company incorporated
under the Companies Act, 1956, and having its registered office at #
1137, RG Towers, 100 Feet Road, Indiranagar, Bangalore 560038
(hereinafter referred to as Marketics or the Company, which
expression shall unless otherwise stated in this Agreement, include
its successors and permitted assigns) of the SECOND PART;
 AND
 2




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3.
    
    WNS (MAURITIUS) LIMITED, a company incorporated under the laws of the Republic of Mauritius,
and having its registered office at 10, Frere Felix de Valois Street, Port Louis, Mauritius
(hereinafter referred to as WNS or the Purchaser, which expression shall unless otherwise
stated in this Agreement, include its Parent, Subsidiaries, Affiliates, successors and
permitted assigns) of the THIRD PART.
 Party Parties
 WHEREAS
 (A)
    
    The Company is in the business of the provision of technology-enabled analytics services
which use a variety of data-mining and statistical tools to help companies maximize the value
of their data and more efficiently and effectively develop and implement their strategies, to
support a variety of crucial tasks, including sales and marketing, customer service and
business planning, as also advisory activities combining the use of applied statistics and
business expertise with advanced data-handling techniques, data mining, segmentation and
predictive modelling.
 (B)
    
    As of the date of this Agreement, the authorized share capital of the Company is Rs.
2,000,000 consisting of 2,000,000 Shares of Re. 1 each (as defined hereinafter). The issued
and paid up share capital of the Company is Re. 16,18,060 consisting of 16,18,060 equity
shares of Rs. 1 each.
 (C)
    
    The Selling Shareholders (other than the Founders) are collectively the legal and beneficial
owners of 692,960 Shares. The Founders are collectively the legal and beneficial owners of
925,100 Shares.
 (D)
    
    The 1,618,060 Shares held by the Selling Shareholders (the Sale Shares) represent the total
issued and paid up share capital of the Company.
 (E)
    
    The Selling Shareholders have agreed to sell, and the Purchaser has agreed to purchase, the
Sale Shares (Proposed Transaction).
 (F)
    
    The Parties are now desirous of entering into this Agreement to record the mutual rights and
obligations for the purchase of the Sale Shares by the Purchaser.
 NOW THEREFORE
 1.
    
    DEFINITIONS AND INTERPRETATION
 1.1
    
    Definitions
  3




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Act
 Affiliate
 Applicable Law Law
 Approvals
 Audited Net Income
 Balance Sheets
 (a)
    
    audited accounts and financial statements for the years up to March 31, 2006;
and(b)
    
    unaudited accounts and financial statements for the financial year ending to
March 31, 2007.
  Balance Sheet Date
 Board of Directors Board
 Business
 4




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Business Agreements
 Business Day
 Business Plan
 Cause for Earnout Determination
 i)
    
    any material deviation from the Business Plan by the Founders other than with
the prior written consent of the Purchaser; orii)
    
    unremedied non-compliance by any Founder with respect to such reporting
requirements (as shall be mutually agreed between the Parties as a Condition Precedent
under Clause 3.2), for period in excess of 10 days thereafter; oriii)
    
    unremedied non-compliance by any Founder with Applicable Law applicable to
the Company for a period in excess of 5 days.
 Cause for Employment
 (i)
    
    a willful material failure or gross negligence by the respective Founders and
the Key Employees to perform all or a material part of his duties laid out under
Annexure A of their respective Employment Contracts, other than the non-achievement of
the Business Plan or observe the terms of employment as contained therein or to follow
the stated policies of the Company/Subsidiary and parent company as notified or his
failure to comply with any material term of such Employment Contract or notified
employment policies;(ii)
    
    conviction for an offence prosecutable with imprisonment exceeding three
years and/or a fine of Rs. 50,000 or more;(iii)
    
    material unremedied breach (in excess of 5 Business Days) of the Employment
Contracts;
 5




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(iv)
    
    Charges being framed against the relevant Founders and/or Key Employees for
an offence of theft, fraudulent, or felonious act (Crime of Moral Turpitude)
committed against the Company/ Subsidiary or its Affiliates, as applicable.
 CCI Guidelines
 Change of Control
 Charter Documents
 Closing Consideration
 Collection Account
 Conditions Precedent
 Customer Contracts
 Damages
 Definitive Agreements
 Disclosure Letter
 E&Y
 Earnout Consideration
   6




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Provided that WIP
    7




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Earnout Payment Date
 Earnout Period
 Effective Date
 Employment Contracts
 Encumbrance
 (i)
    
    any mortgage, charge (whether fixed or floating), pledge, lien,
hypothecation, assignment, deed of trust, title retention, pre-emptive right, security
interest or other encumbrance of any kind securing, or conferring any priority of
payment in respect of, any obligation of any Person, including without limitation a
contract to give or refrain from giving any of the foregoing, including any
restriction imposed under Applicable Law or contract on the transferability of the
Sale Shares or any right granted by a transaction which, in legal terms, is not the
granting of security but which has an economic or financial effect similar to the
granting of security under Applicable Law;(ii)
    
    any proxy, power of attorney, voting trust agreement, interest, option, in
favour of any Person; and(iii)
    
    any adverse claim as to title, possession or use.
 Escrow Agents
 Escrow Agreements
 Existing Directors
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Expert
 Financial Year
 First Closing Date First Closing
 First Tranche Consideration
 First Tranche Shares
 Force Majeure
 (i)
    
    acts of god, including without limitation fire, storms, floods, earthquake or
lightning;(ii)
    
    war, hostilities, terrorist acts, riots, civil commotion or disturbances,
change in governmental laws, orders or regulations (including orders of any court or
judicial/quasi judicial or any regulatory authority) adversely affecting or preventing
due performance by any Party of its duties, obligations or responsibilities under this
Agreement, embargoes, actions by a government, central or state in India or overseas,
or any agency thereof, sabotage, explosions;(iii)
    
    strikes, lockouts or other concerted industrial action.
 Foreign Escrow Agent
 Foreign Escrow Agreement
 Founders th
 9




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Governmental Permits
 Historical Revenue
 Indemnitors
 Indian Escrow Agent
 Indian Escrow Agreement
 Indian GAAP
 Information
 Intellectual Property
 Key Employees
 Material Adverse Effect
 (i)
    
    provision of loans to employees prior to March 31, 2007 as detailed in
Schedule 6 attached herewith.(ii)
    
    any changes in tax laws and other statutes (for instance, adverse impact on
the profitability due to the effect of Minimum Alternate Tax levied as per the current
Budget); and(iii)
    
    Any change, event or effect effected or undertaken at the instance and
request of the Purchaser.
  Net Income
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PAT
 Person
 Proposed Transaction
 Purchaser Indemnified Person
 Rs Rupees
 Second Closing Date
 Sale Shares
 Second Tranche Consideration
 Second Tranche Escrow Consideration
 Second Tranche Shares
 Shareholders
 Shares
 Stock Options
 Subsidiary
 11




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Tax Taxes
  Tax Returns
 Third Party Claim
 Total Purchase Consideration
 United States
 US GAAP
 USD
 1.2
    
    Interpretation
 (a)
    
    Headings and bold typeface are only for convenience and shall be ignored for
the purposes of interpretation.(b)
    
    Unless the context of this Agreement otherwise requires:
 (i)
    
    words using the singular or plural number also include the
plural or singular number, respectively;(ii)
    
    words of any gender are deemed to include the other gender;(iii)
    
    the terms hereof, herein, hereby, hereto and
derivative or similar words refer to this entire Agreement or specified
Clauses of this Agreement, as the case may be;(iv)
    
    the term Clause refers to the specified Clause of this
Agreement;(v)
    
    reference to any legislation or Law or to any provision
thereof shall include references to any such Law as it may, after the date
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hereof, from time to time, be amended, supplemented or reenacted, and any
reference to statutory provision shall include any subordinate legislation
made from time to time under that provision;
 (vi)
    
    Knowledge when used in respect of the Company, the Founders
and/or the Selling Shareholders, shall mean all the data, facts and/or
information by whatever name called that is within the Knowledge of the
Company or the Founders or, insofar as such matters relate to the operations
of the Company Krishnaraj Venkatraman or, insofar as such matters relate to
the books of accounts of the Company Ruchi Kapoor, provided that the Company
or the Founder(s) or Krishnaraj Venkatraman or Ruchi Kapoor shall have made
due and diligent inquiry, including from all relevant employees, directors,
officers and consultants of the Company or Selling Shareholders;(vii)
    
    reference to the word include shall be construed without
limitation;(viii)
    
    the Schedules hereto shall constitute an integral part of this Agreement;(ix)
    
    references to the terms term loan and working capital
loan shall not include (i) any customer advances that may have been received
at any time or (ii) any current liabilities and provisions which may also
include amounts due to employees on account of any reimbursements, vendors or
creditors (other than those due to banks or financial institutions) of the
Company.
 2.
    
    AGREEMENT TO SELL AND PURCHASE SHARES
  13




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Table 1
 Date of Transfer ofPercentage of
    
    Consideration Amount
    
    Shares & PaymentParticulars
    
    Shares Transferred
    
    Payable
    
    DateFirst Tranche Shares
    
    
    75.1
    %
    
    First Tranche Consideration
    
    First Closing DateSecond Tranche Shares
    
    
    24.9
    %
    
    Second Tranche Consideration
    
    On or before Earnout Payment DateTotal
    
    
    100.00
    %
 3.
    
    FIRST TRANCHE CONSIDERATION AND FIRST CLOSING DATE
 3.1
    
    (i)
    
    Subject to Clause 3.2 below, on the First Closing Date the Purchaser shall pay to the
Selling Shareholders the First Tranche Consideration as payment for the First Tranche Shares,
in accordance with Schedule 8.
 (ii)
    
    Notwithstanding anything contained in this Agreement, in the event that the
Company has any secured or unsecured term loan or working capital loan availed, or
agreed to be availed, from any Person prior to the First Closing Date; such sum shall
be deducted from the First Tranche Consideration and paid directly to the respective
creditors on First Closing Date and/or such other dates as required per their
contracts with the Company, The remaining amounts shall be paid to the Selling
Shareholders pro rata.
 3.2
    
    The obligation of the Purchaser to acquire the First Tranche Shares and make payment of the
First Tranche Consideration shall be conditional upon the satisfaction (or, where permissible
under Applicable Law, waiver by the Purchaser at its sole discretion) of the following
conditions precedent (the Conditions Precedent):
 (a)
    
    The execution of the Definitive Agreements and closing documents in the
formats appended hereto;(b)
    
    The receipt of all corporate approvals and the regulatory Approvals as
required to be obtained by the Selling Shareholder and/ or the Company to the
satisfaction of the Purchaser including as provided in Schedule 9;(c)
    
    All of the Companys, the Selling Shareholders (other than the Founders) and
the Founders representations and warranties in this Agreement (considered
collectively), and each of the representations and warranties
 14




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(considered individually) as set forth in Clause 7.1 hereof, shall be true and fair
in all respects as of the Effective Date and as of the First Closing Date and the
Selling Shareholders (including Founders) shall have performed and complied with
all, and not be in breach or default under any agreements, covenants, conditions
and obligations contained in this Agreement that are required to be performed or
complied with on or before the First Closing Date;(d)
    
    There shall not have been any proceeding, order, or injunction, which (i)
prohibits, prevents, restrains, restricts, delays, makes illegal or otherwise
interferes with the consummation of any of the transactions contemplated under the
Definitive Agreements, or (ii) imposes conditions upon the ownership or substantially
obstructs the operations of the Company or its Subsidiaries or which prevents the
Purchaser from purchasing the Sale Shares and no law shall have been, promulgated,
adopted, enacted or entered or otherwise made effective by any Governmental Authority
after the Balance Sheet Date that has or would prevent the Purchaser from performing
its obligations hereunder;(e)
    
    The Company shall not have any secured or unsecured term loans or working
capital loans from any Person, other than as disclosed in the Disclosure Letter,;(f)
    
    The Business Plan shall have been prepared by the Company and agreed to by
the Founders and the Purchaser. Prior to First Closing, the Purchaser shall accord its
assent or approval of the Business Plan in writing to the Company and the Founders;(g)
    
    The Company shall have been operated between the Effective Date and the First
Closing Date in the same or similar manner as on the Effective Date;(h)
    
    The Company shall not have transferred, Encumbered or otherwise disposed of
any of its assets as set out in the Balance Sheets of the Company in excess of the
value of Rs. 20,00,000 (cumulative) without the prior consent of the Purchaser, except
in the ordinary course of business;(i)
    
    The Company shall not have announced or paid any dividends or other forms of
distribution to any shareholder (however, payments for services rendered or employment
in the ordinary course of business shall be excepted), in the period between March 7,
2007 and the First Closing Date;(j)
    
    There shall be no Encumbrance on the Sale Shares, save for such Encumbrances
already made in favour of the Purchaser by way of this Agreement, and all necessary
approvals for the transfer of the same shall have been obtained from the Selling
Shareholders;
 15




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(k)
    
    The Founders delivering to the Purchaser, the Disclosure Letter, the
contents of which are acceptable to the Purchaser;(l)
    
    All assets required to operate the Business during the Earnout Period, in the
same or similar manner as conducted prior to the Effective Date, are in the Company
and its Subsidiary;(m)
    
    On First Closing Date, the Company will terminate the following agreements
and ensure that there will be no continuing obligations arising out of these
agreements,, liabilities arising out of these agreements or outstanding dues owed by
the Company and/ or the Selling Shareholders to any other parties thereunder.
 (i)
    
    Shareholders Agreement dated August 21, 2004 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark Capital Advisors (India)
Private Limited, Mr. S. Ramakrishnan, Mr. Vinay Mishra and Mr. Shankar
Maruwada;(ii)
    
    Subscription Agreement dated November 1, 2004 entered into
between the Company and Mr. Glen M. Springer which termination shall be
effective from April 1, 2007;(iii)
    
    Shareholders Agreement dated July 18, 2005 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark Capital Advisors (India)
Private Limited, Mr. S. Ramakrishnan, Mr. Vinay Mishra , Mr. Shankar Maruwada
and M/s Tawny Dove Limited;(iv)
    
    Shareholders Agreement dated December 23, 2005 entered into
between the Company, Mr. Raji Raju, Mr. S. Ramakrishna, Mr. Vinay Mishra, Mr.
Shankar Maruwada, Mr. Ganesh Krishnan, Spark Capital Advisors and M/s Tawny
Dove Limited;(v)
    
    Share Subscription Agreement dated November 1, 2005 entered
into between the Company and Infernotions Corporation; and(vi)
    
    Share Subscription Agreement dated August 17, 2006 entered
into between the Company and M.S.Krishnan.
 (n)
    
    The Company shall have obtained letters (in the format as provided in Schedule
18A) from each of the Selling Shareholders other than the Founders, K.Ganesh, Tawny
Dove Ltd, Spark Capital Advisors (India) Private Limited, Raji Raju, Glen Springer,
Infernotions Corporation, M S Krishnan confirming that there are no options
outstanding in their favour, that they have no rights whatsoever to be issued any
shares in the Company or the Subsidiary after the Effective Date, and also stating
their respective designated bank accounts to which the First Closing
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Consideration shall be paid by the Purchaser in accordance with Clause 3.1(i) and
confirming that the undated cheques delivered by each of them under sub-clause 3.2
(q) are in respect of total repayment of loans (with no outstanding dues
thereafter) availed by each of them from the Company for exercise of any of their
Stock Options prior to the date hereof. In addition, the Company shall have
obtained letters (in a form as provided in Schedule 18B) from Glen Springer and
Infernotions Corporation confirming that there are no options outstanding in their
favour, that they have no rights whatsoever to be issued any shares in the Company
or the Subsidiary after the Effective Date and also stating their respective
designated bank accounts to which the First Closing Consideration shall be paid by
the Purchaser in accordance with Clause 3.1(i).
 (o)
    
    The Company shall have terminated any or all powers granted to Founders under
any power of attorney or board resolution and have issued the necessary powers to the
Founders/Key Employees with powers vide a Board Resolution to operate the Company with
full authority pursuant to Clause 5.3 of this Agreement in a form to be mutually
agreed between the Parties.(p)
    
    The Parties shall have mutually agreed to the form and substance of reporting
requirements to be complied with by the Founders as provided in the definition of
Cause for Earnout Determination.(q)
    
    The Employees listed in the Schedule 6 herewith shall have delivered to the
Company undated cheques favouring the Company for an amount indicated against the name
of each Employee mentioned in the said Schedule.(r)
    
    The Company shall have provided the Board resolutions and Forms 2 filed with
the Registrar of Companies, Karnataka in respect of the allotment of Equity Shares
made by the Company:
 (i)
    
    on March 31, 2007; and(ii)
    
    to Mr. S. Ramakrishnan, Mr. Vinay Mishra, Mr. Shankar
Maruwada, Tawny Dove Limited, Mrs. Raji Raji, Mr. Glen Springer, and
Infernotions Corporation.
 (s)
    
    Each of the advisors of the Company, viz.Spark Capital Advisors, ALMT Legal
and Grant Thorton, shall have terminated their respective agreements executed with the
Company in relation to the transaction contemplated under this Agreement and shall
have provided a letter conirming that no claims are due to be paid to each or any of
them in respect of this transaction.(t)
    
    Each Selling Shareholder, must submit either a
 i.
    
    declaration in IRS Form W-8, in the case of non-resident aliens of the
United States, or
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ii.
    
    declaration in Form W-9 in the case of U.S. resident aliens or U.S.
citizens.
 (u)
    
    The Parties shall have executed the Indian Escrow Agreement and the Foreign
Escrow Agreement in a form to be mutually agreed between the Parties;(v)
    
    The Founders and the Key Employees shall have executed Employment Letters in
a form to be mutually agreed between the Parties;
 3.3
    
    Fulfilment of Conditions Precedent
 (a)
    
    The Company and the Selling Shareholders shall use their best endeavours to
ensure, fulfill or procure the fulfillment of the Conditions Precedent on or before
April 30, 2007.(b)
    
    If at any time any Party becomes aware of any circumstances that will or are
likely to give rise to the non-fulfilment of the Conditions Precedent by April 30,
2007, then such Party shall immediately give to the other Parties written particulars
of any such circumstances and the Parties hereto shall co-operate fully with a view to
procuring fulfilment of the relevant Condition Precedent.
 3.4
    
    The obligation of the Selling Shareholders to sell the Sale Shares shall be conditional upon:
 (a)
    
    The execution of the Definitive Agreements and closing documents in the
formats appended hereto;(b)
    
    The Purchaser having provided a copy of the certificate of incorporation and
registration with the Financial Services Commission, Mauritius.(c)
    
    the receipt of all corporate approvals and regulatory Approvals as may be required
for the entry into and performance of the transactions contemplated by this
Agreement.,. The Purchaser shall use its best endeavours to obtain the same by April
30, 2007;(d)
    
    All of the Purchasers representations and warranties in this Agreement,
shall be true and fair in all respects as of the Balance Sheet Date and First Closing
Date and the Purchaser shall have performed and complied with all, and not be in
breach or default under any agreements, covenants, conditions and obligations
contained in this Agreement that are required to be performed or complied with on or
before the First Closing Date;
 18




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(e)
    
    There shall not have been any proceeding, order, or injunction, which (i)
prohibits, prevents, restrains, restricts, delays, makes illegal or otherwise
interferes with the consummation of any of the transactions contemplated under the
Definitive Agreements, or (ii) prevents the Selling Shareholders from selling the Sale
Shares and no law shall have been, promulgated, adopted, enacted or entered or
otherwise made effective by any Governmental Authority after the Balance Sheet Date
that has or would prevent the Selling Shareholders from performing its obligations
hereunder(f)
    
    The Business Plan shall have been agreed to by the Founders and Purchaser in
writing.
 3.5
    
    At First Closing:
 (a)
    
    Each of the Selling Shareholders shall deliver to the Purchaser, share
certificates in relation to the number of the First Tranche Shares set out against the
Selling Shareholders name in Schedule 1 along with (i) currently dated share transfer
forms duly signed by the Selling Shareholder, on which appropriate stamp duty has been
paid, and (ii) such other evidence of title as may be necessary to validate the
transfer of the First Tranche Shares under Applicable Law.
  (b)
    
    Subject to the deductions as may be required to be made under Clause 3.1(ii),
the Purchaser shall pay to each Selling Shareholder such portion of the First Tranche
Consideration as set out against such Selling Shareholders name in Schedule 8, by way
of a wire transfer of such amounts into the Selling Shareholders bank account,
details of which are as set out in Schedule 8.(c)
    
    the Selling Shareholders shall deliver to the Purchaser, certified true
copies of resolutions of the Board of Directors, in form and substance satisfactory to
the Purchaser approving the following:
 (i)
    
    The resignation of the Existing Directors (other than Mr. S.
Ramakrishnan and Mr. Vinay Mishra), the handing over of any properties or
records of the Company in their possession, and confirmation in writing that
no monies are due to any one or more of them from the Company, and if such
monies are due, written waiver of claims thereto;
 19




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(ii)
    
    Registration of the transfer of the First Tranche Shares from the
Selling Shareholders to the Purchaser and entry of the name of the Purchaser
in the register of members of the Company by the Board of Directors prior to
their resignation;(iii)
    
    The appointment of such number of Directors recommended by
the Purchaser on the Board of Directors;(iv)
    
    Revocation of all powers granted to the Existing Directors
who will have resigned pursuant to the provisions of this Agreement;(v)
    
    Change in the authorised signatories of all the bank accounts
maintained by the Company such that the authorised signatories for amounts in
excess of Rs.25,00,000/- (Rupees Twenty Five Lakhs Only) shall be one
representative each of the Purchaser and the Founders, and for amounts less
than Rs. 25,00,000/- (Rupees Twenty Five Lakhs Only) shall be any 2 (Two)
representatives of the Founders. Provided that any 2 (Two) representatives of
the Founders as designated by the Purchaser shall be authorised to make
payments of amounts above the limits specified above in respect of salaries
and other payments payable to the employees and payments of statutory dues to
governmental and other regulatory authorities; provided that the Founders
shall provide a monthly report to the Purchaser of payments of salaries and
other payments to be made to the employees and payments of statutory dues to
governmental and other regulatory authorities.(vi)
    
    Execution and submission of Power of Attorney in the form as
may be agreed between the Parties and executed by the Selling Shareholders in
favour of the Purchaser to vote on Second Tranche Shares as per direction of
the Purchaser, which is to be valid till the Earn Out Payment Date.
 (d)
    
    The Purchaser shall deposit the Second Tranche Escrow Consideration and the
Selling Shareholders shall deposit the Second Tranche Shares with the Escrow Agents in
accordance with the Escrow Agreements.(e)
    
    The Articles of Association of the Company shall be amended in a form to the
satisfaction of the Purchaser.
 3.6
    
    The Company and the Selling Shareholders shall, at the cost of the Purchaser, provide the
Purchaser with all assistance that may be requested so as to enable the Purchaser to ensure
that all filings, intimations etc. as the case may be, in relation to the transaction set out
in this Agreement are complied with including but not limited to the requisite filings with
the Reserve Bank of India.
 20




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3.7
    
    Notwithstanding anything to the contrary in this Agreement or elsewhere, and notwithstanding
any event of Force Majeure, in the event that the First Closing does not occur by May 15,
2007, then this Agreement shall stand automatically terminated without recourse or remedy to
any of the Parties hereto. Further, in the event that this Agreement is so terminated on or
before May 15, 2007, the Purchaser shall pay to the Company the amounts spent by it for the
purposes of conducting the US GAAP audit by E&Y for financial year 2007.4.
    
    SECOND TRANCHE CONSIDERATION AND EARNOUT CONSIDERATION4.1
    
    The Parties hereby agree that within 30 days of the First Closing Date, the Company shall
appoint and the Selling Shareholders shall cause the Company to appoint E&Y to audit, by June
15, 2008 (i) the financial statements of the Company prepared by the Company in accordance
with US GAAP for the Earnout Period; and (ii) the schedule of Earnout Consideration prepared
by the Purchaser in accordance with the provisions of this Agreement. The Company shall and
the Parties shall cause the Company to provide to E&Y unrestricted access to the books of
account, documents, files and papers of the Company in order for E&Y to conduct and complete
its audit. In case E&Y fails to complete their audit by 15th June 2008 for
lack of information to be provided or cooperation to be extended by the Shareholder and/or by
the Company, then the Earnout Payment Date shall get extended by the same period as that from
June 15, 2008 until the date of completion of such audit by E&Y, which shall not be later than
July 15, 2008. The financial statements and the schedule of Earnout Consideration as audited
by E&Y, independent auditors, shall be binding on the Parties.The Parties hereby agree that if any Party disputes the Earnout Consideration as audited by
E&Y, it may seek a determination of the Earnout Consideration by an internationally reputed
audit firm (the Audit Firm) and raise a dispute in this regard only after, i) receipt of
the Earnout Consideration and the Second Tranche Escrow Consideration by the Selling
Shareholders, and ii) transfer of the Second Tranche Shares to the Purchaser, in accordance
with Clause 4.2 below. All costs in relation to the Audit Firm appointed in terms of the
preceding sentence shall be borne:
 (i)
    
    by the Selling Shareholders if the Earnout Consideration is determined by the
Audit Firm to be equal to or less than the Earnout Consideration audited by E&Y;(ii)
    
    by the Purchaser if the Earnout Consideration is determined by the Audit Firm
to be greater than the Earnout Consideration audited by the E&Y.
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4.2
    
    (i)
    
    Subject to sub-clause (iii) below, on or prior to the Earnout Payment Date (the Second
Closing Date), the Purchaser shall pay the Earnout Consideration to the Selling Shareholders
on a pro rata basis and the Foreign Escrow Agent shall, upon receipt of intimation (which
shall be made by the Purchaser contemporaneous with the payment of the Earnout Consideration
to the Selling Shareholders) from the Purchaser of payment of the pro rata Earnout
Consideration by the Purchaser to Manik Bhandari, Glen M Springer, Infernotions Corporation,
M.S.Krishnan, Tawny Dove Ltd into their respective Bank Accounts as mentioned in Schedule 8
hereunder and to the rest of the Selling Shareholders into the Collection Account, forthwith
release the Second Tranche Escrow Consideration to Manik Bhandari, Glen M Springer,
Infernotions Corporation, M.S.Krishnan, Tawny Dove Ltd into their respective Bank Accounts as
mentioned in Schedule 8 hereunder and to the rest of the Selling Shareholders into the
Collection Account by way of a wire transfer of such amounts. Simultaneously with the release
the Second Tranche Escrow Consideration to the Selling Shareholders, the Indian Escrow Agent
shall release the Second Tranche Shares to the Purchaser. The Parties agree that the Earnout
Consideration payable under the provisions of this Agreement shall be paid by the Purchaser in
the proportions as indicated in Schedule 22 to the designated bank account of each of the
Selling Shareholders as provided in Schedule 22, to be notified to the Purchaser prior to the
First Closing Date. It is clarified that the Purchaser shall not be in breach of its
obligation to pay the Earnout Consideration to the Selling Shareholders if the Purchaser has
paid the Earnout Consideration into the designated bank account as provided hereinabove and
the same shall not be frustrated by the said designated bank account being incorrect at the
time of payment of the Earnout Consideration. It is clarified that the Purchaser shall be
deemed to have discharged its obligations under this Clause 4.2 upon payment of the amounts to
the designated bank accounts as above and the obtaining of evidence of remittance of such
amounts from the Purchasers bank account.
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(ii)
    
    Subject to sub-clause (iii) below, if the Purchaser fails to make/cause the
payment of Second Tranche Escrow Consideration and/or the Earnout Consideration in
accordance with the provisions of this Agreement, then notwithstanding anything to the
contrary contained in this Agreement, the Purchaser shall be deemed to have offered to
sell to the Founders the First Tranche Shares at Re. 1 (Rupee one) per Share, and
shall accordingly forthwith transfer the First Tranche Shares to the Founders.
Further, the Selling Shareholders shall be entitled to forthwith instruct the Foreign
Escrow Agent to transfer the Second Tranche Shares deposited with the Indian Escrow
Agent back to the relevant Selling Shareholder.(iii)
    
    If the delay in the payment of the Second Tranche Escrow Consideration
and/or the Earnout Consideration beyond the Earnout Payment Date is caused due to
Force Majeure or Indian regulatory delays beyond the control of the Purchaser, the
Earnout Payment Date shall be extended by the delay occasioned by such Force Majeure
or regulatory delay. Notwithstanding anything to the contrary stated in this Agreement
or elsewhere, in the event of any delay in the payment of the Second Tranche Escrow
Consideration and/or the Earnout Consideration under this sub clause (iii) beyond the
Earnout Payment Date, the Earnout Consideration (provided that the same has been
determined in accordance with Clause 4.1) shall be placed in escrow with an escrow
agent, to be designated by the Selling Shareholders in accordance with an agreement
to be mutually agreed by the Parties at the relevant time.
 4.3
    
    Notwithstanding anything contained in this Agreement, on the occurrence of:
 (a)
    
    a merger/ demerger or sale of the substantial undertaking of the Company; or(b)
    
    a sale of more than 50% of the Shares of the Company to any third party
(other than an Affiliate of the Purchaser); or(c)
    
    any Change of Control of the Company or its subsidiaries (other than to an
Affiliate of the Purchaser);
 prior to the Second Closing Date, the Purchaser shall forthwith pay the Earnout
Consideration to the Selling Shareholders as per Clause 4.2(i) on a pro rata basis and
instruct the Foreign Escrow Agent to release the Second Tranche Escrow Consideration to the
Selling Shareholders in accordance with the said Clause 4.2(i). Simultaneously, the Indian
Escrow Agent shall transfer the Second Tranche Shares to the Purchaser.
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For the purposes of this Clause 4.3, the Earnout Consideration shall be USD 35 Million net
of any withholding tax obligation as per Applicable Law and subject to any adjustments/
deductions to the Earnout Consideration that is permissible to be made under the provisions
of this Agreement.4.4
    
    Notwithstanding anything contained in this Agreement, the Purchaser may at its sole option at
any time prior to the Earnout Payment Date, instruct the Foreign Escrow Agent to release the
Second Tranche Escrow Consideration to the Selling Shareholders in accordance with Clause
4.2(i) and pay an Earnout Consideration of USD 35 Million or any lower amount that may be
mutually agreed by the Parties, to the Selling Shareholders as per the said clause 4.2(i).
Simultaneously, the Indian Escrow Agent shall release the Second Tranche Shares to the
Purchaser.
 4.5
    
    Notwithstanding anything contained in this Agreement, in the event of the institution of:
 (a)
    
    voluntary or involuntary liquidation of the Purchaser at any time prior to
the Earnout Payment Date and provided that a liquidator is appointed; or(b)
    
    voluntary liquidation of the Company prior to the Earnout Payment Date;
 the Purchaser shall forthwith pay the Earnout Consideration to the Selling Shareholders as
per Clause 4.2(i) on a pro rata basis and instruct the Foreign Escrow Agent to release the
Second Tranche Escrow Consideration to the Selling Shareholders in accordance with the
said clause 4.2(i). Simultaneously, the Indian Escrow Agent shall release the Second
Tranche Shares to the Purchaser.For the purposes of this Clause 4.5, the Earnout Consideration shall be USD 35 Million
subject to any adjustments/ deductions to the Earnout Consideration that is permissible to
be made under the provisions of this Agreement.
 4.6
    
    Notwithstanding anything contained in this Agreement, in the event of the institution of an
involuntary liquidation of the Company during the Earnout Period and provided that a
liquidator is appointed, the Purchaser shall forthwith instruct the Foreign Escrow Agent to
release the Second Tranche Escrow Consideration to the Selling Shareholders as per Clause
4.2(i). Simultaneously, the Indian Escrow Agent shall release the Second Tranche Shares to the
Purchaser.Notwithstanding the above, if the institution of the involuntary liquidation of the Company
is triggered by any act or omission of the Purchaser, the Purchaser shall additionally be
liable to pay the Selling Shareholders the Earnout Consideration, which for the purposes of
this Clause 4.6 shall be USD 35 Million subject to any adjustments/ deductions to the
Earnout Consideration that is permissible to be made under the provisions of this
Agreement.
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4.7
    
    Pursuant to the transfer of the Second Tranche Shares in accordance with this Clause 4, the
Company and the Selling Shareholders shall provide the Purchaser with all assistance that may
be requested so as to enable the Purchaser to ensure that all filings, intimations etc. as the
case may be, in relation to the transaction set out in this Agreement are complied with
including but not limited to the requisite filings with the Reserve Bank of India.
 4.8
    
    For the avoidance of doubt, it is clarified that the payment of the Earnout Consideration is
not contingent upon the continued employment of the Founders and Key Employees with the
Company.
 4.9
    
    The Parties hereby agree that prior to payment of Earnout Consideration and Second Tranche
Consideration under Cluse 4.3 or 4.4 or 4.5 or 4.6, the Company shall appoint and the Selling
Shareholders shall cause the Company to appoint E&Y to audit the schedule of Earnout
Consideration prepared by the Purchaser in accordance with the provisions of this Agreement
The Company shall and the Parties shall cause the Company to provide to E&Y unrestricted
access to the books of account, documents, files and papers of the Company in order for E&Y to
conduct and complete its audit. The financial statements and the schedule of Earnout
Consideration as audited by E&Y, independent auditors, shall be binding on the Parties.
 5.
    
    CONDUCT OF BUSINESS
 5.1
    
    The Parties agree that from the First Closing Date till the end of the Earnout Period, the
Company shall carry on the Business in its ordinary course in accordance with and to achieve
the Business Plan. Any changes to the Business Plan during the Earnout Period shall be made
only with the mutual consent of Founders and the Purchaser.
 5.2
    
    Subject to the Purchasers corporate governance policies as on the Effective Date, the
Purchaser and the Company shall ensure that the Founders will have full authority as employees
and directors as applicable over the Business till the end of the Earnout Period. During the
Earnout Period, subject to provisions of Clause 6.3, the Purchaser shall ensure that two of
the Founders (or their nominees) will continue as Directors of the Company subject to the
Purchaser having majority control over the Board. For a meeting of Board of Directors, a
notice shall be given to all the Directors of the Company at least 7 days prior to the date of
holding the meeting. During the Earnout Period, the nominees of the Founders shall have a
right to appoint an alternate director as per Applicable Laws, in case any of the nominees of
the Founders are unable to attend the meetings of the Board for reason of not being physically
present in India. Subject to applicable law, 1/3rd of the total strength of Directors (any
fraction contained in that 1/3rd being rounded off to the nearest natural number) or two
Directors (whichever is higher) shall constitute the quorum for a meeting of Board of
Directors, provided that, the physical presence of at least 2 (Two) directors nominated by the
Purchaser shall be required to constitute such quorum. Provided further that with
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5.3
    
    The Purchaser shall at all times allow the Founders and the Key Employees to discharge their
functions as employees and directors as applicable during the Earnout Period, without
interruption or interference, and shall ensure that they are not given any responsibilities in
addition to their responsibilities as on the First Closing Date and/or relocated from their
places of work as on the First Closing Date. However, Founders shall not take any decision on
the matters listed in Schedule 13 without the express consent of the Purchaser. During the
Earnout Period, the Key Employees and Founders will have the same roles and responsibilities
in the Company as they have prior to the First Closing Date and their compensation shall be on
terms no less favourable than as those enjoyed by them prior to the First Closing Date. Any
proposed change in the terms of employment of the Key Employees and/or the Founders shall not
be made unless with the specific prior written concurrence of the Founders. Accordingly, Mr.
S Ramakrishnan, the current Managing Director and Chief Executive Officer, will continue to be
the Managing Director and Chief Executive Officer of the Company during the Earnout Period.
 5.4
    
    Determination by Expert
 (a)
    
    Notwithstanding anything to the contrary contained in this Agreement, if the
Purchaser, by virtue of its control over the Company, during anytime between the First
Closing Date and the Earnout Payment Date, unilaterally takes any decision, either a
commission or an omission, with respect to the Company, without the prior written
concurrence of the Founders; and which the Founders reasonably believe has adversely
impacted the Audited Net Income of the Company during the Earnout Period, then the
Founders may refer the matter to Mr. Sanjeev Agarwal, currently working as Managing
Director of Helion Ventures Pvt Ltd, or such other person as mutually agreed between
the Founders and Purchaser (the Expert). It is further clarified that the reference
to the Expert shall extend to the determination of the existence of an event which may
be Cause for Earnout Determination.(b)
    
    If the Expert determines that the Purchaser has adversely impacted the Net
Income of the Company without Cause for Earnout Determination, then the impact on Net
Income as determined by the Expert shall be added to the Audited Net Income for the
Earnout Period as determined in accordance with this Agreement. Any determination by
the Expert shall be made within 30 days of any reference made to the Expert and shall
be binding on the Parties.
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(c)
    
    The cost of reference to the Expert shall be borne by such Party as may be
determined by the Expert. If the Expert determines that the Purchaser has adversely
impacted the Net Income of the Company to the prejudice of the Founders, without Cause
for Earnout Determination, thereby causing an adverse impact on the receipt of the
Earnout Consideration and the impact is such that the Earnout Consideration would
otherwise than for such impact have been USD 35 Million, then the Purchaser shall pay
USD 35 Million subject to any adjustments/ deductions to the Earnout Consideration
that is permissible to be made under the provisions of this Agreement as Earnout
Consideration to the Selling Shareholders on or prior to the Earnout Payment Date. It
is expressly clarified that the termination of any Founder or Key Employee from his
employment for Cause for Employment shall not be raised by the Founders as an event
adversely affecting Net Income.
 5.5
    
    During the Earnout Period, the Purchaser shall not, either by itself, or through any of its
Affiliates or group companies:
 (a)
    
    engage, directly or indirectly, in the Business other than as being conducted
by the Purchaser as at the First Closing Date with its existing customers as provided
in Schedule 3. In the event of breach of this subclause by the Purchaser, the Founders
(Mr. S Ramakrishnan) and the Purchaser shall, through their representatives, engage in
a mutual discussion to determine the amount of loss suffered by the Company. In the
event respective parties are able to determine the impact on Audited Net Income of the
Company on account of this breach, then such impact shall be adjusted with the Audited
Net Income. In addition the applicability of this Clause for any Business in the area
of procurement analytics and business research will be decided mutually between
S.Ramakrishnan and Neeraj Bhargava. In the event that the representatives of the
Founders (Mr. S Ramakrishnan) and the Purchaser are unable to determine the amount of
loss suffered by the Company, the same shall be referred to the determination of
Expert. Within 15 days from the date of reference, the Expert shall determine the
amount of loss suffered by the Company. Upon such determination, such impact to the
Audited Net Income shall be adjusted against the Audited Net Income.
 Purchaser
Customers
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(b)
    
    declare any dividends/or other forms of distribution from the Company. In the
event of breach of this sub-clause by the Purchaser, the Selling Shareholders shall
receive USD 35 Million subject to any adjustments/ deductions to the Earnout
Consideration that is permissible to be made under the provisions of this Agreement as
Earnout consideration.
 5.6
    
    The Parties shall ensure that all licenses required to operate the Business during the
Earnout Period, in the same or similar manner as conducted prior to the Effective Date, shall
remain with the Company and its Subsidiary.
 5.7
    
    The Founders shall undertake best efforts to ensure that the existing employees of the
Company will continue their employment during the Earnout Period.
 5.8
    
    Further, during the Earnout Period, subject to confidentiality agreements executed to the
satisfaction of the Purchaser, the Purchaser hereby agrees to provide Ganesh Krishnan and M/s
Spark Capital Advisors (India) Private Limited, the financial statements for the Company for
each quarter within 5 days of the declaration the financial results of WNS (Holdings) Limited
at the end of each quarter.
 6.
    
    UNDERPERFORMANCE
 6.1
    
    Subject to any event of Force Majeure, upon the determination of Underperformance in
accordance with this Section 6, the Purchaser shall have the option to assume management
control of the Company in a manner set out in Clause 6.3 below and the Founders will forthwith
cease to have authority over the Business and the provisions of Clause 5 of this Agreement
would cease to be effective,. The determination of the annualised Net Income of the Company
under this Section 6 shall be made on the basis of past business practises and Management
Information Systems adopted by the Company prior to March 31, 2007 as agreed between the
Founders and the Purchaser.
 6.2
    
    For the purpose of this Section 6, Underperformance shall mean the following:
 (i)
    
    In the event that the annualised Net Income of the Company for the six month
period ending September 30, 2007, is less than USD 2 Million, then a cure period of 60
days shall be provided to the Founders to raise the annualised Net Income of the
Company to USD 2 Million. In the event that the Net Income of the Company as
annualized for a period of 240 days after the expiry of such cure period, remains less
than USD 2 Million, it shall be deemed to be Underperformance;(ii)
    
    Loss of more than 50% of the employees of the Company and the Subsidiary
within a consecutive period of 3 months at any time during the Earnout Period, save
and except for situations where Purchaser effects any changes in the Companys
policies affecting the employees of the Company.
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6.3
    
    Upon Underperformance, the Purchaser shall at its sole discretion determine the complete
composition of Board of Directors including but not limited to removal of Mr. S. Ramakrishnan
and/or Mr. Vinay Mishra and/or their alternate directors, if any, from the post of Director of
the Company. In such an event, the Founders shall be entitled to all information relating to
the operations of the Company as they may request. Further, during the Earnout Period, if the
Founders believe that any decisions taken by Company prejudicially affect the obligations of
the Founders to deliver the performance as specified in this Clause, the Founders may refer
such event to the Expert for determination of the impact on the Earnout Consideration.
 6.4
    
    Notwithstanding anything to the contrary contained in this Agreement, upon the occurrence of
Underperformance, the Purchaser (i) shall not indirectly or directly, engage in the Business
other than through the Company, other than as being conducted by the Purchaser as at the First
Closing Date, with any customers as listed in Schedule 14, (ii) may provide additional
employees to the Company, without the Company incurring any expenses in this behalf, and
(iii) may transfer any of the employees of the Company to any other company or unit of the
PurchaserProvided that, the restriction contained in this clause shall not prohibit the Purchaser
from engaging in business (including a business competing with the Business of the Company)
with any of the customers of the Purchaser (Purchaser Customers), if such Purchaser
Customers specifically opt to seek the services of the Purchaser to the exclusion of the
Company for such business.
 7.
    
    REPRESENTATIONS AND WARRANTIES7.1
    
    Representations and Warranties of the Founders and the Selling Shareholders
 (i)
    
    Save and except as specifically disclosed in the Disclosure Letter, each of
the Founders jointly and severally represent and warrant to the Purchaser that the
statements contained in Schedule 4 are true and fair as on the Balance Sheet Date and
the First Closing Date.(ii)
    
    Each of the Selling Shareholders jointly and severally represent and warrant
to the Purchaser that each of the Selling Shareholders have full, clear and
unencumbered right, title and interest in the Sale Shares and the right to sell all
Sale Shares to the Purchaser without any limitations thereof.
 7.2
    
    Representations and Warranties of the Purchaser
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(i)
    
    The Purchaser is a company duly incorporated, validly existing and in good
standing under the laws of Mauritius, with full corporate power to carry on its
business as now conducted by it;(ii)
    
    The Purchaser has full corporate power, capacity and authority to enter into
and execute this Agreement and to perform all of its obligations hereunder;(iii)
    
    This Agreement upon execution is valid and legally binding upon the
Purchaser and enforceable against it in accordance with its terms and neither the
execution of this Agreement by the Purchaser nor the performance by it of the various
terms and provisions hereof will violate the memorandum and articles of association
of the Purchaser or any deed or agreement to which it is a party or by which it is
bound;(iv)
    
    The Purchaser or any of its Affiliates, as of the First Closing Date has
sufficient reserves and is capitalised adequately to perform its obligations under
this Agreement, including but not limited to the payment of the Total Purchase
Consideration.
 7.3
    
    The Selling Shareholders agree and acknowledge that the Purchaser is entering into this
Agreement strictly in reliance of the representations and warranties set out in Clause 7.1
above.
 7.4
    
    The rights and remedies of the Purchaser in respect of a breach or breaches of the
representations and warranties shall not be affected or determined by the outcome of any
investigation made by any Person into the affairs of the Company.
 8.
    
    COVENANTS8.1
    
    Consents and Approvals
  8.2
    
    Public Announcements
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8.5
    
    The Company shall, and the Selling Shareholders shall ensure that the Company shall during
the period between the execution of this Agreement and Second Closing Date:
 (a)
    
    Conduct their business in the ordinary and normal course; and(b)
    
    Comply with all Applicable Laws.(c)
    
    Take Purchasers consent for any decision regarding matters provided in
Schedule 13.
 9.
    
    INDEMNITY9.1
    
    Survival of Representations; Warranties and Covenants.
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9.2
    
    Subject to the limitations set forth in this Clause 9, the Founders (collectively, the
Indemnitors) hereby agree to jointly and severally indemnify and hold harmless the Purchaser
and its officers, directors, employees (including the Company and the Subsidiary from and
after the First Closing Date) (hereinafter referred to individually as a Purchaser
Indemnified Person and collectively as the Purchaser Indemnified Persons) from and against
any and all suffered amounts on account of losses, liabilities, actual proven and direct
damages, claims, fines, fees, penalties, interest obligations, expenses and costs, (Damages)
directly arising from any misrepresentation or breach or default of any of the
representations, warranties, covenants and agreements given or made by any of the Selling
Shareholders in the Definitive Agreements, or in a schedule or exhibit delivered pursuant
thereto;
 (i)
    
    any obligation or liability of the Company or any Subsidiary which may be
incurred by the Company or such Subsidiary as a result of noncompliance (if any), with
the requirements of Applicable Law, including the Act during the period prior to the
First Closing Date;(ii)
    
    any claim by a third party raised against the Company, Founders or the
Purchaser, (a) for an act, deed or omission of the Founders or the Company occurring
prior to the First Closing Date, and (b) having being raised before the expiry of the
period of limitation provided under the Applicable Law, which if true, would
constitute a misrepresentation or breach or inaccuracy of or default in connection
with any of the representations, warranties, covenants and agreements given or made by
the Founders in the Definitive Agreements, the Disclosure Letter or any certificate,
schedule or exhibit delivered pursuant hereto.
 9.3
    
    The indemnification obligations of the Founders shall be subject to the following limitations
and conditions:
 (i)
    
    the Indemnitors shall not be liable in respect of any matter, act, omission
or circumstances (or any combination thereof) to the extent that the same would not
have occurred but for any voluntary act, omission or transaction of the Purchaser
Indemnified Persons;(ii)
    
    if the Indemnitors pay an amount in discharge of any claim under this Clause
9, and the Purchaser Indemnified Persons subsequently recover (whether by payment,
discount, credit, relief or otherwise) from any Person any sum in respect of such
claim, the Purchaser Indemnified Persons shall pay to the Indemnitors an amount equal
to the sum recovered from such Person;
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(iii)
    
    the Purchaser or any of the Purchaser Indemnified Persons, as may have
received a notice of any claim shall have given notice of such claim, to the relevant
Selling Shareholders within 30 days of the receipt of the same.(iv)
    
    the Purchaser Indemnified Persons shall provide evidence and documentation of
having suffered and actually paid for the Damages.
 9.4
    
    Process
 (a)
    
    In the event any Purchaser Indemnified Person becomes aware of any matter
that it believes is covered under this Agreement and such matter involves (i) any
claim made against the Purchaser Indemnified Persons or the Company by any Person; or
(ii) the commencement of any action, suit, investigation, arbitration or similar
proceeding against the Purchaser Indemnified Persons or the Company, the Purchaser
Indemnified Persons shall promptly notify the Company and the Founders of such claim
(Third Party Claim) within 30 days of the receipt of the notice, setting out the
amount due to the Purchaser Indemnified Person and grounds of claim.(b)
    
    The Indemnitors shall have the right to assume the defense of any Third Party
Claim with a counsel of its choice at any time within 30 (thirty) days after the
Purchaser Indemnified Persons have given notice of the Third Party Claim, provided
that the Indemnitors shall conduct the defense of the Third Party Claim as agent(s) of
the Purchaser Indemnified Persons and shall act in a diligent manner. In the event the
Indemnitors assume the defence of any Third Party Claim, the Indemnitors shall not be
liable for any settlement of a Third Party Claim effected without its prior written
consent.(c)
    
    In the event the Indemnitors do not assume and conduct the defense of the
Third Party Claim in accordance with Clause 9.6 (b) above: (i) the Purchaser
Indemnified Persons may defend against and consent to the entry of any judgement or
enter into any settlement with respect to, the Third Party Claim in any manner it may
deem appropriate; and (ii) the Indemnitors will remain liable to indemnify the
Purchaser Indemnified Persons for any Damages that the Purchaser Indemnified Persons
may incur resulting from, arising out of, relating to, in the nature of, or caused by
the Third Party Claim to the fullest extent provided under Clause 9. Such indemnity
shall be made by the Indemnitors to the Purchaser Indemnified Persons within 30
(Thirty) days of the Purchaser Indemnified Persons requiring the Indemnitors to make
any payments at the option of the Purchaser, either to the Company and/or the
Purchaser, pursuant to any loss or liability suffered by the Purchaser Indemnified
Persons.
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(d)
    
    The liability of the Founders to indemnify the Purchaser Indemnified Persons
pursuant to this Section shall be lower of , (i) aggregate of 50% of each of the First
Tranche Consideration and the Second Tranche Consideration, actually received, by the
Founders till the date of any claim or (ii) US Dollars 25,000,000 (Twenty-five
million US Dollars).(e)
    
    Notwithstanding anything contained in this Agreement, in the event of a
breach of any representations and warranties of any of the Selling Shareholders in
respect of their respective title to any of their Sale Shares, or where any claims are
raised by any third parties in respect of any rights, interest or title to any of the
Sale Shares, and any court or arbitrator or any other regulatory or governmental
authority makes a determination in relation to such claim which may in any manner
affect any rights of the Purchaser as are attached to such Sale Shares under
Applicable Laws, the Selling Shareholders shall jointly and severally indemnify the
Purchaser upto the extent as provided in this sub-clause (e);
  (a)
    
    Each Selling Shareholder liable to indemnify the Purchaser
shall only be liable to the extent of his/ her respective portion of Total
Purchase Consideration received till the date of claim of indemnity, as are
related to the Sale Shares that were sold by such indemnifying Selling
Shareholder to the Purchaser under this Agreement, and(b)
    
    The liability of the Selling Shareholders shall not exceed
such portion of the Total Purchase Consideration as it relates to the extent
of the Sale Shares that are subject to the claim.
 
 (f)
    
    The Purchaser shall not be entitled to seek indemnification from the Founders
unless the total loss or liability at the first instance arising to the Purchaser
Indemnified Persons on account of one or more claims for Damages exceeds an amount
equivalent to USD 300,000 (Three hundred thousand US Dollars). After the initial
claims up to the extent of USD 300,000 (Three hundred thousand US Dollars) which
shall be borne by the Purchaser Indemnified Persons as provided above, any claim
for an
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amount not less than USD 50,000 (US Dollars Fifty thousand) made by the Purchaser
Indemnified Person shall be indemnified by the Indemnitors in accordance with this
clause 9.
 9.5
    
    Indemnity Claims prior to Second Closing DateThe Parties agree that any claim, which is finally determined by a court or arbitrator or
as agreed by the Selling Shareholders to be paid by the Purchaser Indemnified Person
against the Indemnitors in accordance with this Section 9 prior to the Second Closing Date
may be adjusted (at the Purchasers option) against Earnout Consideration payable by the
Purchaser under the provisions of this Agreement, and the Earnout Consideration so payable
by the Purchaser under the provisions of this Agreement shall stand reduced to the exact
amount actually suffered and paid by the Purchaser Indemnified Person(s) against the
Indemnitor. It is clarified that any claim that may arise under this Clause 9.7 that may be
adjusted against the Earnout Consideration as provided above shall not affect Audited Net
Income for the determination of the Earnout Consideration under the provisions of this
Agreement.10.
    
    DISPUTE RESOLUTION10.1
    

    In the case of any dispute arising out of or in connection with this Agreement or its
performance, including any question regarding its existence, validity or termination, the
Parties shall first attempt to reach an amicable settlement through mutual consultations and
negotiations between Mr. S. Ramakrishnan on behalf of all the Selling Shareholders and Mr.
Neeraj Bhargava on behalf of the Purchaser or any Persons designated by the Purchaser in
writing in this regard. If the Parties are unable to reach an amicable settlement within 30
days from the date on which the dispute arose, any of the Parties may make a reference to
arbitration in accordance with the following Clause 10.2 by giving a notice to the other in
this regard.10.2
    
    Arbitration
 (a)
    
    All disputes, differences, controversies and questions directly or indirectly
arising at any time under, out of, in connection with or in relation to this
Agreement (or the subject matter of this Agreement) including, without limitation,
all disputes, differences, controversies and questions relating to the validity,
interpretation, construction, performance and enforcement of any provision of this
Agreement shall be finally, exclusively and conclusively settled by reference to
binding arbitration under the Arbitration and Conciliation Act, 1996, to be
administered by the arbitral tribunal by reference to three arbitrators, with one
arbitrator being appointed by the Purchaser, one appointed by the
 35




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##### 



(b)
    
    The Parties agree:
 (i)
    
    to be bound by any arbitral award or order resulting from any
arbitration conducted hereunder; and(ii)
    
    and acknowledge that any judgement on any arbitral award or
order in an arbitration held pursuant to this Clause 10 may be entered in any
court having jurisdiction in relation thereto or having jurisdiction over any
of the Parties or any of their assets.
 (c)
    
    All proceedings in any such Arbitration shall be conducted in the English
language.(d)
    
    The Arbitration award shall be final and binding on the Parties, and the
Parties agree to be bound thereby and to act accordingly.(e)
    
    The Arbitration shall take place in Bangalore.(f)
    
    During the course of Arbitration, this Agreement shall continue to be
performed in all respects except for the disputed part under Arbitration.
 11.
    
    TERM AND TERMINATION
 11.1
    
    This Agreement shall be effective from the Effective Date and shall continue in full force
and effect except in respect of those matters then already performed and except if terminated
in accordance with its terms.
 11.2
    
    This Agreement may be terminated on or prior to May 15, 2007, and the transactions
contemplated hereby abandoned, by the Purchaser, if the Conditions Precedent set forth in
Section 3.2 are not satisfied or upon a material breach by the Company or the Selling
Shareholders of any of their representations, warranties, covenants or other obligations under
this Agreement. Notwithstanding anything to the contrary in this Agreement, the Purchaser
shall not terminate this Agreement after the First Closing Date.
 11.3
    
    In the event that the First Tranche Shares are not transferred to the Purchaser and the First
Tranche Consideration is not paid and evidence of remittance of the same is not furnished by
the Purchaser within the expiry of 60 days from the Effective Date, this Agreement and the
Definitive Agreements shall stand terminated with immediate effect.
 36




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##### 



11.4
    
    Immediately upon transfer of the Second Tranche Shares in accordance with Clause 4 of this
Agreement, this Agreement and the Definitive Agreements shall stand terminated with immediate
effect, except clauses 5.4 (which survives till July 15, 2008), 7.1, 9, 10, 13, 14, 15 (Clause
15 to terminate at the expiry of 24 months from First Closing Date or a shorter period in
case of Clause 15.4), 16(a) and 16(i) which shall survive termination of this Agreement and
the Founders shall cease to have any authority over the Business and shall lose all rights
including the right to nominate directors to the Board as contemplated in this Agreement or
any Definitive Agreement.11.5
    
    This Agreement may be terminated with the mutual consent of all the Parties.12.
    
    TIME OF ESSENCEAny time or period mentioned in any provision of this Agreement may be extended by mutual
agreement between the Parties but as regards any time, date or period originally fixed or
any time, date or period so extended as aforesaid time shall be of the essence.13.
    
    CONFIDENTIALITYEach Party shall keep this Agreement and all information and other materials passing
between it and the other Parties in relation to this Agreement (including all information
concerning the business transactions and the financial arrangements relating to the
Parties) (the Information) confidential and shall not without the prior written consent
of the other Parties, divulge the Information to any other Person or use the Information
other than for carrying out the purposes of this Agreement
except:
 (a)
    
    to the extent that such Information is in the public domain other than by
breach of this Agreement;
 (b)
    
    to the extent that such Information is required to be disclosed by Applicable
Law or any applicable regulatory requirements or by any regulatory body to whose
jurisdiction the relevant Party is subject or with whose instructions it is customary
to comply under notice to the other Party(ies);(c)
    
    in so far as it is disclosed to the employees, officers, directors or
professional advisers of any Party, provided that such Party shall procure that such
persons treat such Information as confidential;(d)
    
    to the extent that any of such Information is/are later acquired by a Party
from a source not obligated to any other Party hereto, or its Affiliates, to keep such
Information confidential;
 37




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##### 



(e)
    
    to the extent that any of such Information was previously known or already in
the lawful possession of a Party, prior to disclosure by any other Party hereto; and(f)
    
    to the extent that any information shall have been independently developed by
a Party without reference to any Information furnished by any other Party hereto.
 14.
    
    POWER OF ATTORNEYMr. S. Ramakrishnan is hereby irrevocably appointed as agent and attorney-in-fact for and
on behalf of the Selling Shareholders as listed in Schedule 20 in relation to the
negotiation and execution of this Agreement and, is authorised to agree and execute any
amendments to the provisions of this Agreement, give and receive notices and communications
including but not limited to details of employees joining the Company and/or Purchaser,
agree to negotiate, enter into settlements and compromises, and comply with orders of
courts and awards of arbitrators with respect to this Agreement and take all actions
necessary, expedient or appropriate in his judgment to achieve the foregoing.15.
    
    NON COMPETE AND NON-SOLICIT15.1
    
    In consideration of the receipt of the Total Purchase Consideration as provided in Clause 3
of this Agreement for the Sale Shares along with the goodwill of the Company, the Founders and
Key Employees (other than Glen Springer, Raji Raju, Varun Madhok and MS Krishnan) hereby
jointly and severally agree and undertake that they shall not, for a period of 24 (twenty
four) months from the First Closing Date in case of the Founders and for a period of 18
(eighteen) months from the First Closing Date in case of the Key Employees, whether directly
or indirectly (whether in their own capacity or in conjunction with or on behalf of any Person
including Founders, as an employee of, or adviser or shareholder or consultant of any other
Person, firm or company or through their Affiliates), anywhere in the world:
 (a)
    
    Engage, set up, promote, finance or invest in a business, venture or company,
which is engaged in a business similar to the Business of the Company or use the brand
name, logo or corporate name of the Company or use the Intellectual Property Rights
(whether present, or developed or conceived after the date hereof) of the Company in
any manner. However, nothing in this sub-clause shall prohibit, the Founders and/ or
Key Employees from individually investing up to 4.99% of the total issued and paid up
capital of a Competing Company. A Competing Company, for the purposes of this clause
shall mean any public listed company which has earned at least 10% of its total
revenues of the previous financial year from business similar to the Business of the
Company.
 38




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##### 



(b)
    
    Solicit, entice away or attempt to solicit or entice away from the Company,
any customer, client, or employee, or former employees (other than those employees
whose employment was terminated or who resigned at-least 1 year prior to the First
Closing Date) of the Company, whether or not such employee would commit a breach of
contract by reason of leaving such employment;(d)
    
    Provide any know-how or technical assistance to any Person in relation to the
Business;(e)
    
    Divulge or disclose to any Person any information (other than information
available to the public or disclosed or divulged pursuant to an order of a court of
competent jurisdiction) relating to the Business, the identity of the Companys or the
Purchasers customers, its products, finance, contractual arrangements, business or
methods;(f)
    
    Develop or aid in the development, of any software/hardware or any form of
data being capable of being classified as intellectual property in relation to the
Business, either directly or indirectly;(g)
    
    Solicit, entice away or attempt to solicit or entice away from the Purchaser,
its top 50 customers that may be introduced to the Company by the Purchaser;
  15.2
    
    M/s Spark Capital Advisors (India) Pvt Ltd, K. Ganesh and Raji Raju shall not solicit, entice
away or attempt to solicit or entice away from the Company, for a period of 24 months from the
First Closing Date, any customer, client, and for a period of 24 months from the First Closing
Date, any employee, or former employees (other than those employees whose employment was
terminated or who resigned at-least 1 year prior to the First Closing Date) of the Company,
whether or not such employee would commit a breach of contract by reason of leaving such
employment;
 15.3
    
    The Founders understand and acknowledge that the Purchaser has made substantial investments
by acquiring the Sale Shares together with the goodwill of the Company. The Founders agree
that such investment is worthy of protection, and the Companys and Purchasers need for the
protection afforded by this Clause 15 is greater than any hardship the Founders might
experience by complying with its terms. The Founders agree that the limitations as to time,
geographical area and scope of activity to be restrained as contained in this Agreement are
reasonable and are not greater than necessary to protect the Business, goodwill and/or other
interests of the Company and the Purchaser.
 39




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##### 








15.4
    
    The Founders acknowledge to the Company and the Purchaser that the Company and the Purchaser
would be irreparably damaged and would not have an adequate remedy at law for monetary damages
in the event that any of the covenants of the Founders in this Clause 15 are not performed in
accordance with its terms or otherwise were breached. The Founders therefore agree that the
Company and the Purchaser will be entitled to an injunction or injunctions to prevent breaches
of such performance and to specific enforcement of such covenants in addition to any other
remedy to which it may be entitled, at law or in equity.15.5
    
    Subject to the terms of this Agreement, particularly Clause 4.2(iii), the provisions of this
Clause 15 shall stand terminated in the event the Earnout Consideration is not paid on or prior to
the Earnout Payment Date.16.
    
    MISCELLANEOUS


(a)
    
    Notices: Notices or other communication required or permitted to be
given or made hereunder shall be in writing and delivered personally or by registered
post or by courier service or by fax addressed to the intended recipient at its
address set out below or to such other address or fax number as any Party may from
time to time notify to the others:To the Selling Shareholders at:




Name
    
    Address and ContactsS Ramakrishnan
    
    No 553, 16th Cross,
Indiranagar, Bangalore  560 038Ph: +91.98450.66677Shankar Maruwada
    
    No. 5 A Krystal Apartments, 80 Feet Road,
Bangalore 560 075. 
Ph: +91.98453.89067Vinay Mishra
    
    1 Surrey Drive, Norwalk, CT 06851, USA.
Ph: +91.98451.32894Spark Capital Advisors (India) Pvt Ltd.
    
    2nd Floor, Yafa Towers, New
#18, Old #24, Khader Nawaz Khan Road,
Nungambakkam, Chennai  600 006. Ph: 044.4205.9901/2/3Raji Raju
    
    Old No: 4/9, New No: 9 Casurina Drive,
Neelankarai, Chennai  600 041Ph: +91.9841281375K. Ganesh
    
    S-24, Golden Enclave, Airport Road,
Bangalore-560 017Tawny Dove Ltd.
    
    10 Frere Felix De Velois Street, Port LouisOthers
    
    As set out in Schedule 24 hereto


40




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##### 



(b)
    
    Severance: The validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired if any provision of this
Agreement is rendered void, illegal or unenforceable in any respect under any law.Should any provision of this Agreement be or become ineffective for reasons beyond
the control of the Parties, the Parties shall use reasonable endeavours to agree
upon a new provision which shall as nearly as possible have the same commercial
effect as the ineffective provision.(c)
    
    No Waiver: No waiver of any provision of this Agreement nor any
consent to any departure from it by any Party shall be effective unless it is in
writing. A waiver or consent shall be effective only for the purpose for which it is
given. No default or delay on the part of any Party in exercising any rights, powers
or privileges operates as a waiver of such right, power or privilege and nor does a
single or partial exercise of a right preclude any exercise of other rights, powers or
privileges.
 41




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##### 



(d)
    
    Entire Agreement: This Agreement constitutes the entire agreement
between the Parties hereto with respect to the subject matters of this Agreement and
supersedes all prior agreements and undertakings, both written and oral, with respect
to the subject matter hereof except as otherwise expressly provided herein.(e)
    
    Amendments: No modification, amendment or waiver of any of the
provisions of this Agreement shall be effective unless made in writing specifically
referring to this Agreement and duly signed by each of the Parties.(f)
    
    No Partnership: Nothing in this Agreement shall be deemed to
constitute a partnership between the Parties or constitute either Party the agent of
the other for any purpose.(g)
    
    Assignment: This Agreement shall be binding on the Parties and their
respective successors and permitted assigns. None of the Parties to this Agreement may
assign its rights or obligations under the Agreement to any other Person, except with
the prior written consent of the Purchaser and the Founders. Provided that the
Purchaser shall be free to assign its rights or obligations under the Agreement to any
of its Affiliates.(h)
    
    Further Assurance: Each of the Parties hereto shall co-operate with
the others and execute and deliver to the other, such instruments and documents and
take such other actions as may be reasonably requested from time to time in order to
carry out, give effect to and confirm their rights and intended purpose of this
Agreement. The Company and the Selling Shareholders shall take all necessary actions
to cause their respective Affiliates, associates and group companies to take all
necessary actions to comply with the terms of this Agreement.(i)
    
    Governing Law: This Agreement shall be governed by and construed in
accordance with the laws of India.(j)
    
    Conflicts: In the case of any discrepancy or conflict between the
provisions of this Agreement and any other Definitive Agreement, the provisions of
this Agreement will prevail.(k)
    
    Additional Documents: Each Party hereto shall promptly execute and
deliver such additional documents and agreements as are envisaged in this Agreement
and any other agreement or document as may be reasonably required by the other Parties
hereto for the purpose of implementing this Agreement, provided that no such document
or agreement shall be inconsistent with the spirit and intent of this Agreement.
 42




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##### 



(l)
    
    Counterparts: This Agreement may be executed simultaneously in any
number of counterparts, each of which will be deemed an original, but all of which
will constitute one and the same instrument.(m)
    
    Costs: Each of the Selling Shareholders and the Purchaser shall be
responsible for their respective transaction costs and out-of pocket expenses in
connection with the transactions contemplated hereby. All stamp duty and other costs
incurred in relation to the sale of the Sale Shares (if any) shall be borne by Selling
Shareholders.(n)
    
    The Parties agree that wherever the prior written concurrence of the Founders
is required under the provisions of this agreement, the written concurrence granted by
Mr. S. Ramakrishnan shall be deemed to be prior written concurrence of each of the
Founders.
 43




---



##### 



FOR WNS (MAURITIUS) LIMITED/s/
Zubin Dubash
(ZUBIN DUBASH)(Group CFO)Witness:
/s/ Pijush SinhaName: Pijush SinhaAddress:
Avendus Advisors, 2nd Floor, West QuadrantIL & FS Financial
Center, Bandra Kurla ComplexBandra (E), Mumbai  400050
 SELLING SHAREHOLDERS
   /s/
S. RamakrishnanKrishnaraj VenkatramanAnuradha SharmaAmitabh BoseParthasarathy VallabhajosyulaSanjit BhoumikRajesh Kumar BhatVijay JumaniRajeev SinhaRajesh ApkariSanjay DattatriAbhishek Ranjan JhaAjayAju AbrahamAnnie ThomasArjun Madhavan
 44




---



##### 



Arpan GuptaAshish KumarAshish MahajanBhargaviCharlesDechenDibyojyoti HaldarDipayan ChakrabortyDoyelDurga PrasadEronesu KarG K Suresu KumarG.VijayaGaurav GuptaGautam MunshiGiridharGKR KrishnanHemalatha DaveKakulKamal MishraKrishnan SeshadriMalavikaMaliniManik BhandariManoranjanMilind KelkarMuralidhar SundarNeerav NaikNethravathyNidhi GuptaNikhil DeshpandeNikunjPavan BhatPradeepPraveen HullurPraveen SinghPravin NampoothiriPritha ChoudhuriPuneet GulatiR.SowmyaRajneesh KhoslaRakesh PandeReddyRuchi KapoorS. Deepak Kumar
 45




---



##### 



SameerSantosh RamjiSaurabh ChopraShila CyriacShravanSindhu LekhaSiva Kumar HSneha ThakkarSoorajStephen SamuelStuti DhandhaniaSuchitraSudershanSuresh Babu PerumalTarun Kumar MukherjeeV. MakeshVarun MohanpuriaVC.RadhaVikas VermaVinay CRVinitha UnniVinoth BabuGlen SpringerInfernotions CorporationMS KrishnanWitness:
/s/ V. MakeshName:
V. MakeshAddress:
51/A, 10th Cross, Govindappa Lane, Kodihalli, Bangalore  8VINAY MISHRA/s/
Vinay MishraWitness:
/s/ Shila CyriacName:
Shila CyriacAddress:
204 Ranka Corner, 14 Cambridge Road, Ulsoor Bangalore 560008
 46




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##### 



SHANKAR MARUWADA/s/
Shankar MaruwadaWitness:
/s/ Rageshri RautelaName: Rageshri RautelaAddress:
5-A Krystal Apartments, 80 Feet Road, Indiranagar, Bangalore  75FOR TAWNY DOVE LIMITED/s/
K. Ganesh
(K. GANESH) on behalf of CRM Holdings Pvt. Ltd.(DIRECTOR)Witness:
/s/ Jayanthi SrinivasanName: Jayanthi SrinivasanAddress:
108 Admiralty Manor, off 14th Cross Hal 2nd Stage, Bangalore 560008K. GANESH/s/
K. GaneshWitness:
/s/ Tarun Kr. MukherjeeName: Tarun Kr. MukherjeeAddress:
1137, 100 Feet Road, Indiranagar, Bangalore  560038FOR SPARK CAPITAL ADVISORS (INDIA) PRIVATE LIMITED/s/
Y. Rama Rao
Y.Rama RaoManaging DirectorWitness:
/s/ S. VenkataramananName:
S. VenkataramananAddress:
 47




---



##### 



RAJI RAJU/s/
Raji RajuWitness:
/s/ S. VijayaraghvanName: S. VijayaraghvanAddress:FOR MARKETICS TECHNOLOGIES (INDIA) PRIVATE LIMITED/s/
S. Ramakrishnan
(S. RAMAKRISHNAN)(DIRECTOR)Witness:
/s/ Ruchi KapurName: Ruchi KapurAddress:
 48




---



##### 



SCHEDULE 1
 SELLING SHAREHOLDER
 ON EFFECTIVE DATEName
    
    # of shares
    
    % holdingFOUNDERS:S. Ramakrishnan
    
    
    308,430
    
    
    
    19.06
    %Vinay Mishra
    
    
    308,330
    
    
    
    19.06
    %Shankar Maruwada
    
    
    308,340
    
    
    
    19.06
    %KEY EMPLOYEES:Krishnaraj Venkatraman
    
    
    73,970
    
    
    
    4.57
    %Anuradha Sharma
    
    
    15,000
    
    
    
    0.93
    %Amitabh Bose
    
    
    15,000
    
    
    
    0.93
    %Parthasarathy Vallabhajosyula
    
    
    2,375
    
    
    
    0.15
    %Sanjit Bhoumik
    
    
    5,000
    
    
    
    0.31
    %Rajesh Kumar Bhat
    
    
    30,000
    
    
    
    1.85
    %Vijay Jumani
    
    
    8,500
    
    
    
    0.53
    %Rajeev Sinha
    
    
    1,000
    
    
    
    0.06
    %Rajesh Apkari
    
    
    1,000
    
    
    
    0.06
    %Sanjay Dattatri
    
    
    15,000
    
    
    
    0.93
    %OTHER EMPLOYEES:Abhishek Ranjan Jha
    
    
    250
    
    
    
    0.02
    %Ajay
    
    
    500
    
    
    
    0.03
    %Aju Abraham
    
    
    250
    
    
    
    0.02
    %Annie Thomas
    
    
    1,000
    
    
    
    0.06
    %Arjun Madhavan
    
    
    500
    
    
    
    0.03
    %Arpan Gupta
    
    
    2,000
    
    
    
    0.12
    %Ashish Kumar
    
    
    500
    
    
    
    0.03
    %Ashish Mahajan
    
    
    500
    
    
    
    0.03
    %Bhargavi
    
    
    250
    
    
    
    0.02
    %Charles
    
    
    1,000
    
    
    
    0.06
    %Dechen
    
    
    250
    
    
    
    0.02
    %Dibyojyoti Haldar
    
    
    1,000
    
    
    
    0.06
    %Dipayan Chakraborty
    
    
    4,000
    
    
    
    0.25
    %Doyel
    
    
    500
    
    
    
    0.03
    %Durga Prasad
    
    
    1,000
    
    
    
    0.06
    %Eronesu Kar
    
    
    500
    
    
    
    0.03
    %G K Suresu Kumar
    
    
    1,000
    
    
    
    0.06
    %G.Vijaya
    
    
    500
    
    
    
    0.03
    %Gaurav Gupta
    
    
    1,000
    
    
    
    0.06
    %Gautam Munshi
    
    
    2,500
    
    
    
    0.15
    %Giridhar
    
    
    1,500
    
    
    
    0.09
    %GKR Krishnan
    
    
    3,000
    
    
    
    0.19
    %Hemalatha Dave
    
    
    250
    
    
    
    0.02
    %
 49




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##### 



Name
    
    ON EFFECTIVE DATEKakul
    
    
    500
    
    
    
    0.03
    %Kamal Mishra
    
    
    1,500
    
    
    
    0.09
    %Krishnan Seshadri
    
    
    1,000
    
    
    
    0.06
    %Malavika
    
    
    250
    
    
    
    0.02
    %Malini
    
    
    250
    
    
    
    0.02
    %Manik Bhandari
    
    
    1,000
    
    
    
    0.06
    %Manoranjan
    
    
    500
    
    
    
    0.03
    %Milind Kelkar
    
    
    5,250
    
    
    
    0.32
    %Muralidhar Sundar
    
    
    500
    
    
    
    0.03
    %Neerav Naik
    
    
    1,000
    
    
    
    0.06
    %Nethravathy
    
    
    250
    
    
    
    0.02
    %Nidhi Gupta
    
    
    500
    
    
    
    0.03
    %Nikhil Deshpande
    
    
    250
    
    
    
    0.02
    %Nikunj
    
    
    500
    
    
    
    0.03
    %Pavan Bhat
    
    
    500
    
    
    
    0.03
    %Pradeep
    
    
    250
    
    
    
    0.02
    %Praveen Hullur
    
    
    500
    
    
    
    0.03
    %Praveen Singh
    
    
    500
    
    
    
    0.03
    %Pravin Nampoothiri
    
    
    500
    
    
    
    0.03
    %Pritha Choudhuri
    
    
    1,000
    
    
    
    0.06
    %Puneet Gulati
    
    
    500
    
    
    
    0.03
    %R.Sowmya
    
    
    500
    
    
    
    0.03
    %Rajneesh Khosla
    
    
    3,000
    
    
    
    0.19
    %Rakesh Pande
    
    
    1,000
    
    
    
    0.06
    %Reddy
    
    
    250
    
    
    
    0.02
    %Ruchi Kapoor
    
    
    1,875
    
    
    
    0.12
    %S. Deepak Kumar
    
    
    1,000
    
    
    
    0.06
    %Sameer
    
    
    2,000
    
    
    
    0.12
    %Santosh Ramji
    
    
    1,000
    
    
    
    0.06
    %Saurabh Chopra
    
    
    2,000
    
    
    
    0.12
    %Shila Cyriac
    
    
    1,000
    
    
    
    0.06
    %Shravan
    
    
    500
    
    
    
    0.03
    %Sindhu Lekha
    
    
    250
    
    
    
    0.02
    %Siva Kumar H
    
    
    250
    
    
    
    0.02
    %Sneha Thakkar
    
    
    500
    
    
    
    0.03
    %Sooraj
    
    
    250
    
    
    
    0.02
    %Stephen Samuel
    
    
    3,000
    
    
    
    0.19
    %Stuti Dhandhania
    
    
    250
    
    
    
    0.02
    %Suchitra
    
    
    1,000
    
    
    
    0.06
    %Sudershan
    
    
    500
    
    
    
    0.03
    %Suresh Babu Perumal
    
    
    750
    
    
    
    0.05
    %Tarun Kumar Mukherjee
    
    
    250
    
    
    
    0.02
    %V. Makesh
    
    
    1,400
    
    
    
    0.09
    %Varun Mohanpuria
    
    
    500
    
    
    
    0.03
    %
 50




---



##### 



Name
    
    ON EFFECTIVE DATEVC.Radha
    
    
    500
    
    
    
    0.03
    %Vikas Verma
    
    
    1,000
    
    
    
    0.06
    %Vinay CR
    
    
    2,000
    
    
    
    0.12
    %Vinitha Unni
    
    
    500
    
    
    
    0.03
    %Vinoth Babu
    
    
    250
    
    
    
    0.02
    %OTHER SHAREHOLDERSTawny Dove Ltd.
    
    
    180,830
    
    
    
    11.18
    %K. Ganesh
    
    
    56,900
    
    
    
    3.52
    %Spark Capital Advisors (India) Pvt Ltd.
    
    
    81,000
    
    
    
    5.01
    %Raji Raju
    
    
    71,470
    
    
    
    4.42
    %Glen M Springer
    
    
    38,710
    
    
    
    2.39
    %Infernotions Corporation
    
    
    20,670
    
    
    
    1.28
    %MS Krishnan
    
    
    8,510
    
    
    
    0.53
    %GRAND TOTAL
    
    
    1,618,060
    
    
    
    100.00
    %
 Note: Shareholders whose names appear in italics are Non-Resident Indians
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 51




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SCHEDULE 2
 BUSINESS PLAN
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SCHEDULE 3
 CUSTOMER CONTRACTS
 Existing
 Client
    
    FY 07-08E Revenue ($k)GSK-EKC
    
    
    3,291NDE Analytics
    
    
    2,202GMAC
    
    
    213Travelocity
    
    
    261BA-KISS
    
    
    112Dunnhumby
    
    
    755AVIVA
    
    
    140Armstrong
    
    
    1,044EMC
    
    
    220LMS Alcoa
    
    
    237Total from existing clients
    
    
    8,475
 Prospects
 
    
    EMC Bear Stearns
    
    St Pauls Travelers
    
    M&T Bank
    
    First Horizon Bank
    
    Aviva (pitching for additional work over and above what is
currently being delivered)
    
    Daimler Chrysler and Daimler Chrysler Financial Services
    
    GM
    
    Kimberly Clarke
    
    Diageo
    
    Rio Tinto
    
    Herbal Life
    
    Pfizer
    
    Bristol Myers Squibb
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SCHEDULE 4
 REPRESENTATIONS AND WARRANTIES OF THE FOUNDERS AND
SELLING SHAREHOLDERS
 1.
    
    The Founders (and in the case of sub-clause (u) of this Clause 1 of this Schedule 4, the
Selling Shareholders) jointly and severally represent and warrant to the Purchaser as follows:(a)
    
    Information
  (b)
    
    Organization and Capital Structure of the Company
 (i)
    
    The Company is a private limited company incorporated under the provisions of
the Act. The Company is duly organized and validly existing under Applicable Law. The
Company has the corporate power and authority to own, operate and use its assets and
carry on the Business as now conducted.(ii)
    
    The authorized share capital of the Company is Rs. 20,00,000 (Rupees Twenty
Lakhs only) divided into 20,00,000 (Twenty Lakh) Shares of Rupees one each. The issued
and paid up share capital of the Company is Rs. 16,18,060 (Rupees Sixteen Lakhs,
Eighteen Thousand and Sixty only) divided into 16,18,060 (Sixteen Lakhs, Eighteen
Thousand and Sixty) Shares. Other than the Sale Shares, the Company has not issued any
other shares of any nature whatsoever. There are no agreements, arrangements, options,
warrants, calls or other rights relating to the issuance, sale or purchase of any of
the Shares. There are no preemptive rights, rights of first refusal or other similar
rights relating to any of the Shares. There are no voting trusts or other arrangements
or understandings with respect to the voting of any of the Shares. Further, as on
April 1, 2007 and the First Closing Date, there are no outstanding Stock Options
(whether vested or not) which are capable of conversion into Shares of the Company.(iii)
    
    The Company has delivered a true and complete copy of its Charter Documents,
amended to date and in full force and effect on the date hereof, the minutes of the
proceedings of the Board of Directors, committees (if any) and shareholders for the
past 4 (four) years to the Purchaser. The Company is not in violation of any of the
provisions of its Charter
 54




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##### 



Documents. Also, to the best of the Knowledge of its Founders, the Company has not
committed any default in filing of appropriate returns, statements, reports, and
all other statutory requirements have been complied with.
 (c)
    
    Subsidiaries and Investments
  (d)
    
    Authority
 (i)
    
    The Company has the corporate power and authority to execute, deliver and
perform the Definitive Agreements and any other documents which may be required to
effect the transactions contemplated by the Definitive Agreements. Each of the
Selling Shareholders has the authority to execute, deliver and perform the Definitive
Agreements and the transactions contemplated by the Definitive Agreements, and has
where necessary, obtained shareholder and/or other consents required for the same.
The execution, delivery and performance by the Company of the Definitive Agreements to
which it is a party has been duly authorized and approved by the Board of Directors.
The execution, delivery and performance by each of the Selling Shareholders of each
of the Definitive Agreements to which it is a party has been duly authorized and
approved by any necessary corporate or other action.(ii)
    
    The execution, delivery and performance of the Definitive Agreements will not
violate, conflict with, result in a breach of the terms, conditions or provisions of,
or constitute a default, an event of default or an event creating rights of
acceleration, modification, termination or cancellation or a loss of rights under any
or all of the following: (1) any contract to which the Company or the Founders are
parties; (2) any court order to which the Company or any Founder is a party or by
which the Company or any Founder is bound; (3) any Laws affecting the Company or the
Founders; or (4) any other binding obligations of the Company or the Founders.
 55




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##### 



(iii)
    
    All Approvals or acts of, or the making by, the Company or the Founder(s) of
any declarations, filings or registrations with any governmental bodies as may be
required by Law in connection with the execution of the Definitive Agreements and the
effecting of the transactions contemplated by the Definitive Agreements have been
obtained and/or completed.
 (e)
    
    Financial Statements
 Financial Statements
 (f)
    
    Operations since -Balance Sheet Date
  (i)
    
    There has been no Material Adverse Effect and/or no event which would
materially affect the ability of the Company to continue to operate the Business as
conducted, or as contemplated by this Agreement.(ii)
    
    The Company has not issued or authorized for issuance any equity shares,
bond, note or other security of the Company.
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##### 



(iii)
    
    The Company has not without the consent of the Purchaser (if so required),
incurred any material debt, obligation or liability that exceeds Rs. 5,00,000 in an
individual transaction.(iv)
    
    The Company has not purchased, redeemed, allotted, or otherwise acquired,
directly or indirectly, any share or shares of the Companys capital.(v)
    
    The Company has not created, voluntarily or involuntarily, any Encumbrance
upon any of its assets or properties.(vi)
    
    The Company has not sold any of its assets or properties which has a book
value in excess of Rs. 1,00,000 (cumulative) per annum.(vii)
    
    The Company has not purchased any securities of any Person.(viii)
    
    The Company has not incurred any expenditure for the purchase, acquisition,
construction or improvement of any equipment or capital asset in excess of Rs.
5,00,000 in an individual transaction.(ix)
    
    The Company has not made any loan to any Person in excess of Rs. 10 Lakhs in
the aggregate.(x)
    
    The Company has not amended, terminated or failed to renew any material
contract that is due for renewal.(xi)
    
    The Company has not failed to claim outstanding accounts receivables,
deferred payments of accounts payable, or prepaid any obligation in excess of Rs.
10,00,000.(xii)
    
    The Company or its assets have not become subject to any Encumbrance.(xiii)
    
    The Company has not changed its accounting methods or practices or, written off any
reserves other than as disclosed in the Balance Sheets.(xiv)
    
    The Company has not revalued its assets.(xv)
    
    To the best of the Founders Knowledge, the Company or its directors,
officers or employees have not received any notices, or Knowledge of any nature
whatsoever which would indicate litigation, liability, or any extraordinary cost from
any third parties, past or present employees, or governmental bodies against the
Company which would result in a Material Adverse Effect.(xix)
    
    As of Effective Date and the First Closing Date, the Company has not
registered any transfer of Shares other than those recorded in the share transfer
register of the Company as of the date hereof.
 57




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(xxi)
    
    The Company has adequately provided for all amounts (including Taxes)
that should have been accounted for or reserved by it in the ordinary course of
business in accordance with Indian GAAP and the same is reflected in the financial
statements(xxii)
    
    The Company has not made any investments, save and except for investments in the
Subsidiary and capital expenditure not exceeding USD 50,000/-. For the purposes of
this clause, the term, Investments shall be deemed to exclude fixed deposits,
mutual funds and other money market instruments.
 (g)
    
    No Undisclosed Liabilities
  (i)
    
    those set forth or adequately provided for in the Balance Sheet; and(ii)
    
    those incurred in the ordinary course of business since the Balance Sheet
Date and consistent with past practice.
 (h)
    
    Taxes
 (i)
    
    The Company has filed or caused to be filed in a timely manner all Tax
Returns required to be filed by the First Closing Date in accordance with applicable
Laws. The Tax Returns filed by the Company have made disclosures as required under
applicable Law and all Taxes (including withholding taxes) due as of the First Closing
Date have been paid. Further, there are no claims, proceedings or actions pending or
threatened to the Knowledge of the Founders or the Company, relating to Taxes, in
respect of the Company.
 (i)
    
    Assets
 (i)
    
    All movable assets required for carrying on the Business of the Company as is
presently being carried on are in normal working condition and good working order
subject to normal wear and tear; and(ii)
    
    Except as disclosed in the Financial Statements, all the assets of the
Company, whether movable or immovable, real or tangible, are free and clear of all
Encumbrances of any nature whatsoever and other than the Company, no other party,
including the Founders, has any subsisting rights, claim or title over such assets,
including the right to possess or use such assets. Provided that the assets of the
Company that are bonded in order to fulfill the requirements of Software Technology
Park Scheme of India shall not be considered as Encumbered for the purposes of this
Agreement.
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##### 



(iii)
    
    The immovable assets of the Company, including, without limitation,
equipment and machinery, owned, leased, or licensed by the Company or employed by it,
are in serviceable condition and repair for use thereof in the ordinary course of
business.
 (j)
    
    Property Leases
 (i)
    
    Copies of each contract under which the Company leases, holds or operates any
real property owned by any third Person or subleases any real property to any third
Person has been made available to the Purchaser as listed in Schedule J hereto.(ii)
    
    No material breach of any covenant affecting the freehold or leasehold title
to any asset of the Company has occurred and in relation to each leasehold property,
the rent has been paid in accordance with the relevant agreements. There do not exist
any easements over the immovable assets, which would materially affect the Companys
use and enjoyment of the immovable assets.(iii)
    
    Where any immovable and movable assets are used in the Business but not
owned by the Company or any facilities or services are provided to the Company by any
third party, there has not occurred any event of default or any other event or
circumstance, which may entitle any third party to terminate any agreement or license
in respect of the provision of such facilities or services (or any event or
circumstance which with the giving of notice and/or the lapse of time and/or a
relevant determination would constitute such an event or circumstance).
 (k)
    
    Governmental Permits
 Governmental Permits
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(l)
    
    Intellectual Property
 (i)
    
    The Company as reasonably permitted and disclosed, owns all the Intellectual
Property. For the purposes of this Clause, the term Intellectual Property shall
include all of the following categories of Intellectual Property owned by the Company:
 (1)
    
    copyrights and all renewals thereof on software developed by
the Company;(2)
    
    trademarks, trade names, service marks, service names, logos
and corporate names, both primary and secondary, together with all goodwill
associated therewith and including, without limitation, all translations,
adaptations, combinations and derivations of each of the foregoing;(3)
    
    all other intellectual property, including but not limited to
design rights, trade names and domain names;
 (ii)
    
    The Intellectual Property is fully transferable, assignable, alienable and
licensable by the Company following the Effective Date without restriction and without
payment of any kind to any third party.
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(iii)
    
    The Intellectual Property is free and clear of any liens, charges or any
Encumbrance by whatever name and is freely transferable at the option of the
Company.(iv)
    
    In each case in which the Company has acquired the Intellectual Property from
any Person (including any Affiliate), the Company has obtained a valid and enforceable
assignment sufficient to irrevocably transfer all rights in such Intellectual Property
(including the right to seek past and future damages with respect thereto) to the
Company. The Company has recorded each such assignment of the Intellectual Property
with the appropriate authority.(v)
    
    The Company has no Knowledge of any facts or circumstances that would render
any Intellectual Property rights invalid or unenforceable.(vi)
    
    The Company has not transferred ownership of, or granted any exclusive
license of or right to use, or authorized the retention of any exclusive rights to use
or joint ownership of, any Intellectual Property to any other Person (including to any
Affiliate of Company). The Company has not allowed the Companys rights in the
Intellectual Property to lapse or enter the public domain.(vii)
    
    There are no contracts, licenses or agreements between the Company and any
other Person with respect to any rights on the Intellectual Property, under which
there is any dispute regarding the scope of such agreement, or performance under such
agreement, including with respect to any payments to be made or received by the
Company thereunder.(viii)
    
    To the Knowledge of the Founders, there is no suit, or notice whether pending for
infringement against any of the Intellectual Property or against the Company for
infringement of intellectual property rights of any third parties.
 (m)
    
    Subsidiary
 (i)
    
    That the Subsidiary is a 100% subsidiary of the Company. For the purposes
this sub-clause (m) the Company shall be referred to as the Parent.(ii)
    
    Other than Parent, the Subsidiary has no other affiliate or subsidiaries.(iii)
    
    The Subsidiarys employees use the Connecticut location for all written
communications including business cards and e-mail return addresses.
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(iv)
    
    Subsidiary has no office outside the United States of America.(v)
    
    As to the Subsidiary, there have been no circumstances which have given rise
to any insolvency proceedings occurring. For the purposes of this sub-clause, the term
insolvency proceedings includes any form of bankruptcy, liquidation, receivership,
administration, arrangement or plan with creditors, moratorium, stay or limitation of
creditors rights, interim or provisional supervision by the court or court appointee,
whether in the jurisdiction of the place of control, or of incorporation or residence,
or elsewhere.(vi)
    
    The Subsidiary and their respective directors, officers and employees has
complied with all US federal, state and local statutory and regulatory duties.(vii)
    
    The Subsidiary has been duly qualified to transact business as a foreign
operating company in every state and other jurisdiction where it has conducted
business and its in good standing (including for tax matters) in each such
jurisdiction, and has received no notices of default, violation or breach of any of
them.(viii)
    
    The Company has provided to the Purchaser copies of all agency, distributorship,
marketing, purchasing, manufacturing or licensing agreements or arrangements to which
the Subsidiary and/or any of its subsidiaries is a party.(ix)
    
    There is/ are no agreement(s) to which the Subsidiary is a party, which in
any way restricts its freedom to carry on its business in the United States of America(x)
    
    There is/are no agreement(s) or arrangement(s), to which the Subsidiary is a
party, and which:
 a.
    
    infringes any relevant anti-trust or similar legislation in
any jurisdiction in which the Subsidiary carries on business or has assets or
sales; orb.
    
    is void or unenforceable (whether in whole or in part) or may
render the Subsidiary liable to proceedings under any such legislation as is
referred to in sub-paragraph (a) above.
 (xi)
    
    There is/are no agreement(s) or arrangement(s) for any business practices to
which the Subsidiary is now a party, or has been a party during the last two years, in
respect of which:
 a.
    
    any request for information, statement of objections or
similar matter has been received from any court, tribunal, governmental,
national or supra-national authority; or
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##### 



b.
    
    any correspondence has been conducted between the Subsidiary
and any court, tribunal, governmental, national or supra-national authority.
 (xii)
    
    There are no business machinery and equipment, motor vehicles any other
fixed assets owned by the Subsidiary.(xiii)
    
    The Subsidiary has not entered into any hire purchase and leasing contracts with
respect to any fixed assets.(xiv)
    
    There are no real properties owned, controlled, used or occupied by the
Subsidiary (including any freehold, leasehold, mortgages).(xv)
    
    The Subsidiary has no equipment which is not: (a) in good repair and
condition and/ or (b) in satisfactory working order and/or (c) properly serviced and
maintained and/ or (d) in surplus to requirements of the business of the Subsidiary;(xvi)
    
    The Subsidiarys authorised share capital is 1,000 shares of common stock,
on par value per share.(xvii)
    
    The issued share capital of each class (indicating which shares are not fully paid
up or credited as fully paid up) is: 1,000 shares of common stock.(xviii)
    
    There are no treasury shares, share option agreements or arrangements and/or
pre-emption rights and/or conversion rights over the Subsidiarys share capital
(whether issued or not).(xix)
    
    There are no liens, mortgages, charges or encumbrances over the share
capital of the Subsidiary or to the best of Knowledge of the Founders.(xx)
    
    There are no contracts entered into by the Subsidiary within the past two
years which are not entirely of an arms length nature.(xxi)
    
    There are no breaches of contract which may have given rise to any,
litigation, arbitration or any other dispute resolution procedure involving the
Subsidiary. Further, to the best of Knowledge of the Founders, there are no potential
litigations against the Company and the Subsidiary.(xxii)
    
    There is no default by the Subsidiary and/or its subsidiaries under any agreement,
trust deed, instrument or arrangement.
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(xxiii)
    
    There are no existing or pending litigations or judgments affecting the Subsidiary
and/or its assets.(xxiv)
    
    There is no investigation, inquiry or enforcement proceedings or process by any
governmental, administrative or regulatory body. . Further, to the best of Knowledge
of the Founders there are no potential investigation, inquiry or enforcement
proceedings or process by any governmental, administrative or regulatory body against
the Company and the Subsidiary.(xxv)
    
    All current employees of the Subsidiary have signed the three-page Terms
and Conditions of Employment bearing 10 numbered paragraphs, in the form submitted to
Purchaser on or about March 27, 2007 by Debbie Brosy. The Subsidiary retains one
original fully executed original of each such document.(xxvi)
    
    The Company has presumed that all persons classified as consultants have been
properly classified for all regulatory, tax and compliance purposes, and the
Subsidiary is not liable for any taxes, insurance, compensation, pension or employment
plan, registration, interest, penalties or other liabilities as to any consultant
under applicable employment law.(xxvii)
    
    The Subsidiary has paid in full to all its employees or adequately accrued for in
accordance with U.S. GAAP all wages, salaries, commissions, bonuses, benefits and
other compensation due to or on behalf of such employees.(xxviii)
    
    The Subsidiary has no:
 a.
    
    employee benefit plans (as defined in of the Employee
Retirement Income Security Act of 1974, as amended (ERISA)) and no bonus,
stock option, stock purchase, restricted stock, incentive, deferred
compensation, retiree medical or life insurance, supplemental retirement,
severance or other benefit plans, programs or arrangements, and all
employment, termination, severance or other contracts or agreements, whether
legally enforceable or not, to which the Subsidiary is a party, with respect
to which the Subsidiary has any obligation or which are maintained,
contributed to or sponsored by the Subsidiary for the benefit of any current
or former employee, officer or director of the Subsidiary, other than the
retention bonus as reflected in the Balance Sheets.b.
    
    employee benefit plan for which the Subsidiary could incur
liability in the event such plan has been or were to be terminated;
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##### 



c.
    
    contracts, arrangements or understandings between the Selling
Shareholder or any of their Affiliates and any employee of the Subsidiary,
including, without limitation, any contracts, arrangements or understandings
relating to the sale or change in control of the Subsidiary.
 (xxix)
    
    The Subsidiary is not liable to any third party for any infringement of intellectual
property (including without limitation any patent, copyright, trade secret, or
trademark) of a third party. Neither Parent nor Subsidiary has any actual notice of
any claims or to the best of Knowledge of the Founders, there are no threatened claims
of any such possible infringement or that any intellectual property of the Parent or
Subsidiary is not validly owned by such entity.
 (n)
    
    Liability
 (i)
    
    The Company does not have any pending claim/ litigation arising out of any
injury to individuals or property as a result of the use of any services of the
Company(ii)
    
    There are no loans taken, guarantees issued and other similar obligation
assumed by the Company,.(iii)
    
    To the best of the Knowledge and belief of the Founders, there are no
outstanding claims/liabilities of and/or against the Company that have resulted in the
Company being in default of the above obligations or the above obligations being
invoked, as applicable.
 (o)
    
    Compliance with Laws and Litigation
 (i)
    
    The Company has complied with all Applicable Laws, is not in violation in
respect of any Law, and has not received any notices of violation of any Law with
respect to the conduct of Business or the ownership or operation of its assets. The
Company has also complied with all US Laws and regulatory duties including all
federal, state and local laws in so far as it relates to applicable Customer
Contracts.(ii)
    
    There is no private or governmental action, suit proceeding, claim,
arbitration or investigation pending before any agency, court or tribunal, foreign or
domestic, which, is ongoing or to the Knowledge of the Founders, is threatened against
the Company.(iii)
    
    There is no judgment, decree or order against the Company, or any of its
Founders (in their capacities as such), that could prevent, enjoin, or materially
alter or delay any of the transactions contemplated by this Agreement, or that may be
material to the Purchaser.
 65




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##### 



(iv)
    
    The Company does not have any pending litigations from Tax or other
authorities under any Law in force which currently have a bearing on the Business.
 (p)
    
    Insurance
 (i)
    
    The list of all insurance policies covering the assets, business, equipment,
properties and liabilities of the Company as set out in Schedule P has been provided
to the Purchaser.(ii)
    
    The insurance policies provide sufficient cover, commensurate as per normal
industry practice, against any injury, damage, loss, harm of the entire assets, stock,
machinery, stock in transit, liability and/or services of the Company.(iii)
    
    There is no claim by the Company pending under any of such policies.(iv)
    
    All premiums due and payable under all such policies have been paid and the
Company is otherwise in compliance with the terms of such policies. There is no
threatened termination of, or material premium increase with respect to, any of such
policies in excess of Rs. 50,000.(v)
    
    There are no insurance claims and liabilities, outstanding or otherwise,
payable to any Person by the Company in excess of Rs. 5,00,000.(vi)
    
    The Company and the Subsidiary have taken necessary insurance policies
required to be taken under any of the Customer Contracts and all the insurance
policies so taken are valid and subsisting.
 (q)
    
    Contracts
 (i)
    
    A list of all the existing Customer Contracts, and employee contracts for Key
Employees, to which the Company is a party or by which it is bound, is as set out in
Schedule Q, and has been provided to the Purchaser.(ii)
    
    Each of the contracts to which the Company is a party (Business Agreements)
constitutes a valid and binding obligation of the Company.
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##### 



(iii)
    
    Each of the contracts listed in (i) above, are in full force and will
continue in full force and effect after the Effective Date without the consent,
approval or act of, or the making of any filing with, any other party. The Company is
not in material breach or default under any of the Business Agreements.
 (r)
    
    Banks
  (s)
    
    Potential Conflicts of Interest
  (i)
    
    owns, directly or indirectly, any interest in, or is an officer, director,
employee or consultant of, any Person that is, or is engaged in business similar to
the Business as, a current competitor;(ii)
    
    owns, directly or indirectly, in whole or in part, any intellectual or other
property that the Company uses in the conduct of the Business;(iii)
    
    has any claim whatsoever against, or owes any amount to, the Company,
and(iv)
    
    has any agreement in relation to matters set out in (i) to (iii) above
existing on the date hereof.
 (t)
    
    Information Technology Matters:
 (i)
    
    The use of the computer systems by the Company does not to the best of the
Knowledge of the Founders, infringe the intellectual property rights of any third
party.(ii)
    
    The Company has exclusive control of the operation of the computer systems
and of the storage, processing and retrieval of all data stored on the computer
systems and any intellectual property rights in such data are owned solely by the
Company other than data provided by clients of the Company and consultants in the
ordinary course of business.
 (u)
    
    Good Title
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##### 



(v)
    
    Employees
 (i)
    
    To the best of the Knowledge of the Founders and based on the information
obtained by them from the Employees, the details disclosed to the Purchaser by the
Founders about the employees as set out in Schedule 5 are accurate, up to date and
complete in all respects and not misleading in any manner. The particulars of the
terms and conditions of employment of the employees as set out in Schedule 5 are
accurate, up to date and complete in all respects and not misleading.(ii)
    
    There are no employment-related disputes involving the employees as party
(ies), or otherwise affecting their rights or obligations under the relevant
employment agreement, pending or threatened against the Company and the Founders.(iii)
    
    There is no industrial or trade dispute or any dispute or negotiation
regarding a claim with any trade union.(iv)
    
    To the best of the Founders Knowledge, no director or other Key Employee has
received written intimation of their intent to terminate his/her employment with the
Company as a result of the transactions contemplated by this Agreement or otherwise.
 (y)
    
    Related Party Transactions
 (i)
    
    The Company is not party to any transactions with any of its related parties,
being a related party as defined under the Act, or any directors, officers, employees,
or Affiliates of the Company.(ii)
    
    No related party or any member of his or her immediate family is indebted to
the Company, nor is the Company indebted (or committed to make loans or extend or
guarantee credit) to any of them
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##### 



(zb)
    
    Other
 (i)
    
    To the best of the Knowledge of the Founders, the Historical Revenue and PAT
for the Company is in line with Indian GAAP and normal business practices of the past
Knowledge(ii)
    
    Each of the representations and warranties shall be construed as a separate
representation, warranty, covenant or undertaking, as the case may be, and shall not
be limited by the terms of any other representation or warranty or by any other term
of this Agreement.(iii)
    
    There have been no Stock Options (whether vested or not) capable of being
converted into Shares at any time in future and the shareholding pattern of the
Company, as of the date of this Agreement and immediately prior to the First Closing
Date, is as set forth in Schedule 1 hereof.(iv)
    
    The Company, as of the date of this Agreement, is not in anyway indebted to
any third party with respect to any loans, advances, financial assistance or credit
facilities provided to the Company (Customer Advances and Current Liabilities and
Provisions including employee, vendor and creditor dues shall not be treated as
instances of indebtedness of the Company);(v)
    
    The Company has not, as of the date of this Agreement, availed of any foreign
currency denominated loans;(vi)
    
    As of the First Closing Date, other than the shareholders agreements
terminated in accordance with Clause 3.2 (j), there exists no other agreements
relating to the Shares and governance of the Company.
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Schedule 5
 LIST OF KEY EMPLOYEES
 Date of
    
    RemunerationEmployee
    
    Employee ID
    
    Designation
    
    Joining
    
    Paid (Rs.)Amitabh Bose
    
    MKT-138
    
    VP Client Services
    
    19-Sep-05
    
    
    30,00,000Anuradha Sharma
    
    MKT-026
    
    Chief Analytics
Officer
    
    10-Aug-03
    
    
    28,00,000Sanjit Bhoumik
    
    MKT-172
    
    Director Client
Services
    
    21-Feb-06
    
    
    20,00,000Rajeev Sinha
    
    MKT-132
    
    Director Client
Services
    
    6-Sep-05
    
    
    16,00,000Parthasarathy 
Vallabajosyula
    
    MKT-021
    
    Director Client
Services
    
    1-Sep-03
    
    
    20,00,000V.Krishnaraj
    
    MKT-046
    
    VP Client Services
    
    14-Jul-04
    
    
    24,00,000Raj Bhatt
    
    MKT-228
    
    VP Client Services
    
    6-Jul-06
    
    
    25,00,000Sanjay Dattatri
    
    MKT-289
    
    VP Bazaar Buzz
    
    1-Mar-07
    
    
    14,00,000Rajesh Apkari
    
    MKT-150
    
    CTO
    
    3-Nov-05
    
    
    17,00,000Vijay Jumanni
    
    MKT-005
    
    Director Business
Dev
    
    1 Jan 03
    
    
    16,00,000
 The remainder of this page has intentionally been left blank
 70




---



##### 



Schedule 6
EMPLOYEE LOAN FOR CONVERSION OF OPTIONS
 Marketics Technologies (India) Pvt. Ltd.
 Loan
    
    No. ofSl. Nos.
    
    Employee Name
    
    (Amount in Rs.)
    
    Shares1
    
    Abhishek Ranjan Jha
    
    
    17,177.50
    
    
    
    2502
    
    Ajay
    
    
    34,355.00
    
    
    
    5003
    
    Aju Abraham
    
    
    17,177.50
    
    
    
    2504
    
    Amitabh Bose
    
    
    840,000.00
    
    
    
    15,0005
    
    Annie Thomas
    
    
    56,000.00
    
    
    
    1,0006
    
    Anuradha Sharma
    
    
    530,186.25
    
    
    
    9,7507
    
    Arjun Madhavan
    
    
    34,355.00
    
    
    
    5008
    
    Arpan Gupta
    
    
    12,765.60
    
    
    
    6009
    
    Ashish Kumar
    
    
    34,355.00
    
    
    
    50010
    
    Ashish Mahajan
    
    
    34,355.00
    
    
    
    50011
    
    Bhargavi
    
    
    17,177.50
    
    
    
    25012
    
    Charles
    
    
    68,710.00
    
    
    
    1,00013
    
    Dechen
    
    
    17,177.50
    
    
    
    25014
    
    Dibyojyoti Haldar
    
    
    56,000.00
    
    
    
    1,00015
    
    Dipayan Chakraborty
    
    
    74,654.50
    
    
    
    1,90016
    
    Doyel
    
    
    34,355.00
    
    
    
    50017
    
    Durga Prasad
    
    
    56,000.00
    
    
    
    1,00018
    
    Eronesu Kar
    
    
    34,355.00
    
    
    
    50019
    
    G K Suresu Kumar
    
    
    6,610.00
    
    
    
    1,00020
    
    G.Vijaya
    
    
    34,355.00
    
    
    
    50021
    
    Gaurav Gupta
    
    
    56,000.00
    
    
    
    1,00022
    
    Gautam Munshi
    
    
    159,065.00
    
    
    
    2,50023
    
    Giridhar
    
    
    90,355.00
    
    
    
    1,50024
    
    GKR Krishnan
    
    
    5,944.50
    
    
    
    90025
    
    Hemalatha Dave
    
    
    17,177.50
    
    
    
    25026
    
    Kakul Paul
    
    
    34,355.00
    
    
    
    50027
    
    Kamal Mishra
    
    
    90,355.00
    
    
    
    1,50028
    
    Krishnan Seshadri
    
    
    68,710.00
    
    
    
    1,00029
    
    Malavika
    
    
    17,177.50
    
    
    
    25030
    
    Malini
    
    
    17,177.50
    
    
    
    25031
    
    Manik Bhandari
    
    
    68,710.00
    
    
    
    1,00032
    
    Manoranjan Pattanayak
    
    
    34,355.00
    
    
    
    50033
    
    Muralidhar Sundar
    
    
    34,355.00
    
    
    
    50034
    
    Neerav Naik
    
    
    21,276.00
    
    
    
    1,00035
    
    Nethravathy
    
    
    17,177.50
    
    
    
    25036
    
    Nidhi Gupta
    
    
    34,355.00
    
    
    
    50037
    
    Nikhil Deshpande
    
    
    17,177.50
    
    
    
    25038
    
    Nikunj
    
    
    34,355.00
    
    
    
    50039
    
    Parthasarathy Vallabhajosyula
    
    
    101,086.25
    
    
    
    2,37540
    
    Pavan Bhat
    
    
    34,355.00
    
    
    
    50041
    
    Pradeep
    
    
    17,177.50
    
    
    
    25042
    
    Praveen Hullur
    
    
    34,355.00
    
    
    
    50043
    
    Praveen Singh
    
    
    34,355.00
    
    
    
    500
 71




---



##### 



Loan
    
    No. ofSl. Nos.
    
    Employee Name
    
    (Amount in Rs.)
    
    Shares44
    
    Pravin Nampoothiri
    
    
    34,355.00
    
    
    
    50045
    
    Pritha Choudhuri
    
    
    56,000.00
    
    
    
    1,00046
    
    R.Sowmya
    
    
    34,355.00
    
    
    
    50047
    
    Rajeev Sinha
    
    
    68,710.00
    
    
    
    1,00048
    
    Rajesh Apkari
    
    
    68,710.00
    
    
    
    1,00049
    
    Rajesh Kumar Bhatt
    
    
    1,680,000.00
    
    
    
    30,00050
    
    Rajneesh Khosla
    
    
    5,944.50
    
    
    
    90051
    
    Rakesh Pande
    
    
    68,710.00
    
    
    
    1,00052
    
    Reddy
    
    
    17,177.50
    
    
    
    25053
    
    Ruchi Kapoor
    
    
    128,831.25
    
    
    
    1,87554
    
    S. Deepak Kumar
    
    
    68,710.00
    
    
    
    1,00055
    
    Sameer
    
    
    137,420.00
    
    
    
    2,00056
    
    Sanjay Dattatri
    
    
    1,030,650.00
    
    
    
    15,00057
    
    Sanjit Bhoumik
    
    
    280,000.00
    
    
    
    5,00058
    
    Santosh Ramji
    
    
    21,276.00
    
    
    
    1,00059
    
    Shila Cyriac
    
    
    21,276.00
    
    
    
    1,00060
    
    Shravan
    
    
    34,355.00
    
    
    
    50061
    
    Sindhu Lekha
    
    
    17,177.50
    
    
    
    25062
    
    Siva Kumar H
    
    
    17,177.50
    
    
    
    25063
    
    Sneha Thakkar
    
    
    34,355.00
    
    
    
    50064
    
    Sooraj
    
    
    17,177.50
    
    
    
    25065
    
    Stuti Dhandhania
    
    
    17,177.50
    
    
    
    25066
    
    Suchitra
    
    
    56,000.00
    
    
    
    1,00067
    
    Sudershan
    
    
    34,355.00
    
    
    
    50068
    
    Suresh Babu Perumal
    
    
    51,532.50
    
    
    
    75069
    
    Tarun Kumar Mukherjee
    
    
    17,177.50
    
    
    
    25070
    
    V Krishnaraj
    
    
    1,172,879.70
    
    
    
    17,07071
    
    V. Makesh
    
    
    83,484.00
    
    
    
    1,40072
    
    Varun Mohanpuria
    
    
    34,355.00
    
    
    
    50073
    
    VC.Radha
    
    
    34,355.00
    
    
    
    50074
    
    Vijay Jumani
    
    
    83,571.25
    
    
    
    3,25075
    
    Vikas Verma
    
    
    68,710.00
    
    
    
    1,00076
    
    Vinitha Unni
    
    
    34,355.00
    
    
    
    50077
    
    Vinoth Babu
    
    
    17,177.50
    
    
    
    250Total
    
    
    8,597,025.80
    
    
    
    146,770.00Marketics Inc.Loan
    
    No. ofSl. Nos.
    
    Employee Name
    
    (Amount in Rs.)
    
    Shares1
    
    Vinay CR
    
    
    3,038
    
    
    
    2,000Total
    
    
    3,038
    
    
    
    2,000
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has intentionally been left blank
 72




---



##### 



Schedule 7
 PARAMETERS OTHER THAN NET INCOME THAT IMPLY ALLEVIATION OF UNDERPERFORMANCE
  The remainder of this page has intentionally been left blank
 73




---



##### 



Schedule 8
 LIST OF EACH SELLING SHAREHOLDERS, ALONG WITH SHAREHOLDING DETAILS, DETAILS OF THE AMOUNTS TO
BE PAID TO THEM ON FIRST CLOSING AND WIRE TRANSFER DETAILS
 PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)FOUNDERS:********************************************************************************************************************************************************************************************************************************************************************************************************************************S. Ramakrishnan
    
    ****************************************
    
    308,430
    
    19.06%
    
    231,631
    
    5,240,691
 
 The remainder of this page has intentionally been left blank
 74




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)****************************************************************************************************************************************************************Vinay Mishra
    
    ************************************************************************************************************************
****************************************
****************************************************
    
    308,330
    
    19.06%
    
    231,556
    
    5,238,994Shankar Maruwada
    

****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
************
    
    308,340
    
    19.06%
    
    231,563
    
    5,239,152KEYEMPLOYEES:Krishnaraj Venkatraman
    

****************************************
****************************************
****************************************
************
    
    73,970
    
    4.57%
    
    55,551
    
    1,256,851
 75




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************Anuradha
    
    ****************************************Sharma
    
    ****************************************
    
    15,000
    
    0.93%
    
    11,265
    
    254,873********************************************************************************************************************************************************************************************************************************************************************************************************************************Amitabh Bose
    
    ****************************************
    
    15,000
    
    0.93%
    
    11,265
    
    254,873
 76




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Parthasarathy
    
    ****************************************Vallabhajosyula
    
    **********************
    
    2,375
    
    0.15%
    
    1,784
    
    40,363********************************************************************************************************************************************************************************************************************************************************************************************************************************Sanjit Bhoumik
    
    ****************************************
    
    5,000
    
    0.31%
    
    3,755
    
    84,958
 77




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Rajesh Kumar
    
    ****************************************Bhat
    
    *****
    
    30,000
    
    1.85%
    
    22,530
    
    509,745********************************************************************************************************************************************************************************************************************************************************************************************************************************Vijay Jumani
    
    ****************************************
    
    8,500
    
    0.53%
    
    6,383
    
    144,416********************************************************************************************************************************************************************************************************************************************************************************************************************************Rajeev Sinha
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992
 78




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Rajesh Apkari
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Sanjay Dattatri
    
    ****************************************
    
    15,000
    
    0.93%
    
    11,265
    
    254,873OTHER EMPLOYEES:********************************************************************************************************************************************************************************************************************************************************************************************************************************Abhishek
    
    ****************************************Ranjan Jha
    
    *****
    
    250
    
    0.02%
    
    188
    
    4,254
 79




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Ajay
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Aju Abraham
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254
 80




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Annie Thomas
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Arjun Madhavan
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484********************************************************************************************************************************************************************************************************************************************************************************************************************************Arpan Gupta
    
    ****************************************
    
    2,000
    
    0.12%
    
    1,502
    
    33,983
 81




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Ashish Kumar
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Ashish Mahajan
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Bhargavi
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254
 82




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Charles
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Dechen
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231********************************************************************************************************************************************************************************************************************************************************************************************************************************Dibyojyoti
    
    ****************************************Haldar
    
    *******
    
    1,000
    
    0.06%
    
    751
    
    16,992
 83




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Dipayan
    
    ****************************************Chakraborty
    
    ******
    
    4,000
    
    0.25%
    
    3,004
    
    67,966********************************************************************************************************************************************************************************************************************************************************************************************************************************Doyel
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507
 84




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Durga Prasad
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Eronesu Kar
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************G K Suresu
    
    ****************************************Kumar
    
    *****
    
    1,000
    
    0.06%
    
    751
    
    16,992
 85




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************G.Vijaya
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Gaurav Gupta
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Gautam Munshi
    
    ****************************************
    
    2,500
    
    0.15%
    
    1,877
    
    42,467
 86




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Giridhar
    
    ****************************************
    
    1,500
    
    0.09%
    
    1,127
    
    25,499********************************************************************************************************************************************************************************************************************************************************************************************************************************GKR Krishnan
    
    ****************************************
    
    3,000
    
    0.19%
    
    2,253
    
    50,975********************************************************************************************************************************************************************************************************************************************************************************************************************************Hemalatha Dave
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231
 87




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Kakul
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Kamal Mishra
    
    ****************************************
    
    1,500
    
    0.09%
    
    1,127
    
    25,499
 88




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Krishnan
    
    ****************************************Seshadri
    
    ******
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Malavika
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231********************************************************************************************************************************************************************************************************************************************************************************************************************************Malini
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254
 89




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)******************************************************************************************Manik Bhandari
    
    ******************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Manoranjan
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Milind Kelkar
    
    ****************************************
    
    5,250
    
    0.32%
    
    3,943
    
    89,211
 90




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Muralidhar
    
    ****************************************Sundar
    
    *****
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Neerav Naik
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Nethravathy
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254
 91




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Nidhi Gupta
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Nikhil
    
    ****************************************Deshpande
    
    ******
    
    250
    
    0.02%
    
    188
    
    4,254********************************************************************************************************************************************************************************************************************************************************************************************************************************Nikunj
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484
 92




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Pavan Bhat
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Pradeep
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254********************************************************************************************************************************************************************************************************************************************************************************************************************************Praveen Hullur
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507
 93




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Praveen Singh
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484********************************************************************************************************************************************************************************************************************************************************************************************************************************Pravin
    
    ****************************************Nampoothiri
    
    ******
    
    500
    
    0.03%
    
    375
    
    8,484
 94




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Pritha
    
    ****************************************Choudhuri
    
    *****
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Puneet Gulati
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************R.Sowmya
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484
 95




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Rajneesh Khosla
    
    ****************************************
    
    3,000
    
    0.19%
    
    2,253
    
    50,975********************************************************************************************************************************************************************************************************************************************************************************************************************************Rakesh Pande
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Reddy
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231
 96




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Ruchi Kapoor
    
    ****************************************
    
    1,875
    
    0.12%
    
    1,408
    
    31,856****************************************************************************************************************************************************************************************************************************************************************************************S. Deepak
    
    ****************************************Kumar
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992
 97




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Sameer
    
    ****************************************
    
    2,000
    
    0.12%
    
    1,502
    
    33,983********************************************************************************************************************************************************************************************************************************************************************************************************************************Santosh Ramji
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Saurabh Chopra
    
    ****************************************
    
    2,000
    
    0.12%
    
    1,502
    
    33,983
 98




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Shila Cyriac
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Shravan
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Sindhu Lekha
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231
 99




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Siva Kumar H
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231********************************************************************************************************************************************************************************************************************************************************************************************************************************Sneha Thakkar
    
    ****************************************
    
    500
    
    0.03%
    
    376
    
    8,507********************************************************************************************************************************************************************************************************************************************************************************************************************************Sooraj
    
    ****************************************
    
    250
    
    0.02%
    
    187
    
    4,231
 100




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Stephen Samuel
    
    ****************************************
    
    3,000
    
    0.19%
    
    2,253
    
    50,975********************************************************************************************************************************************************************************************************************************************************************************************************************************Stuti
    
    ****************************************Dhandhania
    
    *****
    
    250
    
    0.02%
    
    188
    
    4,254********************************************************************************************************************************************************************************************************************************************************************************************************************************Suchitra
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992
 101




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Sudershan
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484********************************************************************************************************************************************************************************************************************************************************************************************************************************Suresh Babu
    
    ****************************************Perumal
    
    *****
    
    750
    
    0.05%
    
    563
    
    12,738
 102




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Tarun Kumar
    
    ****************************************Mukherjee
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254********************************************************************************************************************************************************************************************************************************************************************************************************************************V. Makesh
    
    ****************************************
    
    1,400
    
    0.09%
    
    1,051
    
    23,779********************************************************************************************************************************************************************************************************************************************************************************************************************************Varun
    
    ****************************************Mohanpuria
    
    *****
    
    500
    
    0.03%
    
    376
    
    8,507
 103




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************VC. Radha
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484********************************************************************************************************************************************************************************************************************************************************************************************************************************Vikas Verma
    
    ****************************************
    
    1,000
    
    0.06%
    
    751
    
    16,992********************************************************************************************************************************************************************************************************************************************************************************************************************************Vinay CR
    
    ****************************************
    
    2,000
    
    0.12%
    
    1,502
    
    33,983
 104




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)********************************************************************************************************************************************************************************************************************************************************************************************************************************Vinitha Unni
    
    ****************************************
    
    500
    
    0.03%
    
    375
    
    8,484********************************************************************************************************************************************************************************************************************************************************************************************************************************Vinoth Babu
    
    ****************************************
    
    250
    
    0.02%
    
    188
    
    4,254OTHERSHAREHOLDERS
 105




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)************************************************************************************************************************Tawny Dove
    
    ****************************************Ltd.
    
    ********************************************************************************************************************************************************************************************************
    
    180,830
    
    11.18%
    
    135,803
    
    3,072,566****************************************************************************************************************************************************************K. Ganesh
    
    ****************************************
    
    56,900
    
    3.52%
    
    42,732
    
    966,819************************************************************************************************************************************************************************************************************************************************Spark Capital
    
    ****************************************Advisors
    
    ****************************************(India) Pvt
    
    ****************************************Ltd.
    
    ************************************************************************************************************************************************************************************************************************************************
    
    81,000
    
    5.01%
    
    60,831
    
    1,376,312
 106




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************Raji Raju
    
    ****************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************
    
    71,470
    
    4.42%
    
    53,674
    
    1,214,383************************************************************************************************************************Glen M Springer
    
    ****************************************************************************************************************************************************************
    
    38,710
    
    2.39%
    
    29,071
    
    657,736****************************************Infernotions
    
    ****************************************Corporation
    
    ************************************************************************************************************************
    
    20,670
    
    1.28%
    
    15,523
    
    351,211
 107




---



##### 



PAYMENT OF FIRSTON EFFECTIVE
    
    TRANCHE CONSIDERATIONDATE
    
    ON FIRST CLOSING DATEFirst Tranche# of
    
    
    
    First
    
    Considerationshares
    
    %
    
    Tranche
    
    Payable (InName
    
    Bank Account Details
    
    held
    
    holding
    
    Shares
    
    USD)****************************************************************************************************************************************************************MS Krishnan
    
    ********************************************************************************************************************************************************************************************************
    
    8,510
    
    0.53
    %
    6,391
    
    144,597GRAND TOTAL
    
    
    
    1,618,060
    
    100.00
    %
    1,215,163
    
    27,493,282
 
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 108




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##### 



Schedule 9
 ALL CORPORATE APPROVALS AND APPROVALS REQUIRED FOR THE CONSUMMATION OF THE TRANSACTIONS
 1.
    
    Resolutions of the Board of Directors of the Company
  a.
    
    Transfer of Shares
 RESOLVED  
 No. of EquityDistinctive nos.
    
    Shares ofTransferor Name
    
    Share Certificate no.
    
    From
    
    To
    
    Rs.[]/each
 RESOLVED FURTHER 
 RESOLVED FURTHER 
 b.
    
    Employment Agreements
 RESOLVED
 RESOLVED FURTHER 
 c.
    
    Change in Authorized Signatories for the Operation of the Companys Bank
Account
 109




---



##### 



RESOLVED    
 [Upto Rs 25 lakhs jointly by ]
 RESOLVED FURTHER  
 d.
    
    Resignation and Appointment of Directors
 RESOLVED
 RESOLVED FURTHER  
 RESOLVED FURTHER  
 RESOLVED FURTHER  
 RESOLVED FURTHER
 110




---



##### 




 RESOLVED FURTHER  
 e.
    
    Convening of Extra-ordinary General Meeting of the Company
 RESOLVED
 RESOLVED FURTHER
 RESOLVED FURTHER,
 f.
    
    Amendment of the Articles of Association of the Company
 RESOLVED
 FURTHER RESOLVED, 
 RESOLVED FURTHER,
 2.
    
    Resolutions of the members of the Company
  a.
    
    Amendment of the Articles of Association of the Company
 RESOLVED
 111




---



##### 



FURTHER RESOLVED, 
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 112




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##### 



Schedule 10
 LIST OF CUSTOMERS FOR WHICH MARKETICS WILL NEED TO GET SIGNED MSA AS CP TO CLOSING
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 113




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##### 



Schedule 11
 DRAFT CONTRACT TO BE SIGNED FOR THOSE CUSTOMERS WHERE MSA IS REQUIRED TO BE SIGNED AS A CP TO
CLOSING
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 114




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##### 



Schedule 12
 CP CONFIRMATION FORM
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 115




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##### 



Schedule 13
 LIST
OF ALL BUSINESS MATTERS IN RESPECT OF WHICH CONSENT OF THE PURCHASER
WOULD BE REQUIRED BY THE FOUNDERS/KEY EMPLOYEES/COMPANY
 a.
    
    Except as agreed in the annual business plan.
 a.
    
    Commencement of any new line of business, which is unrelated to the Business.b.
    
    Commencement of unit / division in a new geographical territory for product. (Business
can come from any geography and therefore this has been deleted).c.
    
    Capital expenditure including acquisition of assets, construction or lease, in excess
of INR 2 million per annum.d.
    
    The formation of, investment in, or operation by the Company of any subsidiary, or
collective investment vehicle.e.
    
    Setting up of salary and benefits of any employee with a total cost to the Company or
any of its subsidiaries exceeding INR 5 Million per annumf.
    
    Changes to material accounting policies or practices, or any change in the financial
year for preparation of audited accounts.
 b.
    
    Creation of investments other than short-term liquid investments in Banks or any activity
relating to derivatives transaction.c.
    
    Divestment of or sale of assets of businesses, lease, license or exchange or pledge in any
other way proposing to dispose off any assets or undertaking of the Company in excess of INR 5
Lakhs for individual transactions, or INR 2 million on a cumulative basis, in any financial
year or substantially all of the assets or undertaking or the Company.d.
    
    Any agreement, arrangement, transaction or assignment of intellectual property rights
including those relating to copyrights, trademarks, patents and designs.e.
    
    The creation of any indebtedness not contemplated in the annual operating budget of the Company.f.
    
    Recommend, giving or renewing of security for or the guaranteeing of debts or obligations of
the Company or any Subsidiary Company and / or Affiliates of any Person.g.
    
    Appointment of marketing representatives/agents to whom payments on an annual basis are to be
more than INR 10 million.h.
    
    Creating any lien or charges or proposing the acquisition, sale, lease, transfer, license or
in any other way proposing to dispose off any assets or undertaking of the Company and / or
its Affiliates in excess of INR 2.5 Million or more in a single transaction or on a cumulative
basis i.e. in more than one transaction in any calendar year, or substantially all the assets
or undertaking of the Company and / or its Affiliatesi.
    
    The appointment, save for sales persons hired in the US per the agreed Business Plan or
removal and determination of the terms of employment and any significant changes in the terms
of the employment agreement of the Founders, Key Employees and any other employee with
compensation exceeding USD 100,000 per annum.j.
    
    Related party transactions, agreements or arrangements between the Company and the Founders
and any transaction, agreement or arrangement between the Company, and any entity or firm, in
which any of the Founders are directly or indirectly in control of the business and/or has a
financial interest of more than 2%.k.
    
    Commencement or settlement of litigation where the amount involved is above INR 1 Million in
any particular financial year.
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 116




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##### 



Schedule 14
 List of existing/potential customers of WNS and mechanism for giving credit to Selling Shareholders
in case they achieve excess growth in such accounts.
 Client
    

FY2008
Revenue (USD 000)GSK-EKC
    
    
    3,291NDE Analytics
    
    
    2,202GMAC
    
    
    213Travelocity
    
    
    261BA-KISS
    
    
    112Dunnhumby
    
    
    755AVIVA
    
    
    140Armstrong
    
    
    1,044EMC
    
    
    220LMS Alcoa
    
    
    237EMC Bear Stearns
    
    
    0St Pauls Travelers
    
    
    0M&T Bank
    
    
    0First Horizon Bank
    
    
    0Daimler Chrysler and Daimler Chrysler Financial Services
    
    
    0GM
    
    
    0Kimberly Clarke
    
    
    0Diageo
    
    
    0Rio Tinto
    
    
    0Herbal Life
    
    
    0Pfizer
    
    
    0Bristol Myers Squibb
    
    
    0Total from clients
    
    
    8,475
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 117




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##### 



Schedule 15
 DISCLOSURE SCHEDULE
 DISCLOSURES TO THE REPRESENTATIONS AND WARRANTIES OF THE FOUNDERS AND THE SELLING SHAREHOLDERS
 1
    
    This Schedule constitutes formal disclosure by the Company and the Selling Shareholders to
the Purchaser for the purposes of the Agreement of the facts and circumstances which are or
may be inconsistent with the Representations and Warranties or which otherwise give or may
give rise to a Claim by the Purchaser. Such facts and circumstances will be deemed to qualify
each specific Representation and Warranty accordingly.
 2
    
    Where brief particulars of a matter are set out or referred to in this schedule, or a
document is referred to but not attached, or a reference is made to a particular part only of
a document, full particulars of the matter and the document are deemed to be disclosed
provided that the full document is otherwise available for inspection as a matter of public
record, as defined below.
 3
    
    All disclosures are made specifically in respect of specific Representation or Warranty as
provided hereinbelow.
 4
    
    Disclosures contained in this schedule are not to be taken to have the effect of or construed
as adding or extending the scope of any of the Representations or Warranties.
  Item
    
    DisclosureInformationAll information in relation to the Company, the Business and the
Founders, which would be material to the Purchaser for the purposes
of purchasing the Sale Shares from the Founders in accordance with
the terms of this Agreement, has been made available and disclosed
to the Purchaser and such information is true and fair in all
respects, and no such information omits to state any fact necessary
to make such statements true and fair.
    
    No disclosures
 118




---



##### 



Item
    
    DisclosureOrganization and Capital Structure of the CompanyThe Company is a private limited company incorporated under the
provisions of the Act. The Company is duly organized and validly
existing under Applicable Law. The Company has the corporate power
and authority to own, operate and use its assets and carry on the
Business as now conducted.
    
    No disclosuresThe authorized share capital of the Company is Rs. 20,00,000 (Rupees
Twenty Lakhs only) divided into 20,00,000 (Twenty Lakh) Shares of
Rupees one each. The issued and paid up share capital of the Company
is Rs. 16,18,060 (Rupees Sixteen Lakhs, Eighteen Thousand and Sixty
only) divided into 16,18,060 (Sixteen Lakhs, Eighteen Thousand and
Sixty) Shares. Other than the Sale Shares, the Company has not
issued any other shares of any nature whatsoever. There are no
agreements, arrangements, options, warrants, calls or other rights
relating to the issuance, sale or purchase of any of the Shares.
There are no preemptive rights, rights of first refusal or other
similar rights relating to any of the Shares. There are no voting
trusts or other arrangements or understandings with respect to the
voting of any of the Shares.
    
    There are no agreements, arrangements, options, warrants,
calls or other rights relating to the issuance, sale or
purchase of any of the Shares, save and except:
Shareholders Agreement dated August 21, 2004 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra and Mr. Shankar Maruwada;
Subscription Agreement dated November 1, 2004 entered
into between the Company and Mr. Glen M. Springer;
Shareholders Agreement dated July 18, 2005 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra , Mr. Shankar Maruwada and
M/s Tawny Dove Limited;Shareholders Agreement dated December 23, 2005 entered
into between the Company, Mr. Raji Raju, Mr. S.
Ramakrishna, Mr. Vinay Mishra, Mr. Shankar Maruwada, Mr.
Ganesh Krishnan, Spark Capital Advisors and M/s Tawny Dove
Limited; andShare Subscription Agreement dated November 1, 2005
entered into between the Company and Infernotions
Corporation.Share Subscription Agreement dated August 17, 2006 entered
into between the Company and M.S.Krishnan.
 119




---



##### 



Item
    
    DisclosureThe Company has delivered a true and complete copy of its Charter
Documents, amended to date and in full force and effect on the date
hereof, the minutes of the proceedings of the Board of Directors,
committees (if any) and shareholders for the past four years to the
Purchaser. To the best of the knowledge of its Founders, the Company
is not in violation of any of the provisions of its Charter
Documents. Also, to the best of the knowledge of its Founders, the
Company has not committed any default in filing of appropriate
returns, statements, reports, and all other statutory requirements
have been complied with.
    
    No disclosures.Subsidiaries and InvestmentsOther than as set out in the Balance Sheets of the Company as on the
Balance Sheet Date (as defined hereinafter), the Company does not
have, and has never had, any subsidiaries and does not otherwise
own, and has not otherwise owned, any shares in the capital of, or
control of, directly or indirectly, any corporation, partnership,
association, joint venture or other Person.
    
    No disclosures.AuthorityThe Company has the corporate power and authority to execute,
deliver and perform the Definitive Agreements and any other
documents which may be required to effect the transactions
contemplated by the Definitive Agreements. Each of the Founders has
the authority to execute, deliver and perform the Definitive
Agreements and the transactions contemplated by the Definitive
Agreements, and has where necessary, obtained shareholder and/or
other consents required for the same. The execution, delivery and
performance by the Company of the Definitive Agreements to which it
is a party has been duly authorized and approved by the Board of
Directors. The execution, delivery and performance by each of the
Founders of each of the Definitive Agreements to which it is a party
has been duly authorized and approved by any necessary corporate or
other action.
    
    Save and except:
Shareholders Agreement dated August 21, 2004 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra and Mr. Shankar Maruwada;
Subscription Agreement dated November 1, 2004 entered
into between the Company and Mr. Glen M. Springer;
Shareholders Agreement dated July 18, 2005 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra , Mr. Shankar Maruwada and
M/s Tawny Dove Limited;
 120




---



##### 



Item
    
    DisclosureShareholders Agreement dated December 23, 2005 entered
into between the Company, Mr. Raji Raju, Mr. S.
Ramakrishna, Mr. Vinay Mishra, Mr. Shankar Maruwada, Mr.
Ganesh Krishnan, Spark Capital Advisors and M/s Tawny Dove
Limited; andShare Subscription Agreement dated November 1, 2005
entered into between the Company and Infernotions
Corporation.Share Subscription Agreement dated August 17, 2006 entered
into between the Company and M.S.Krishnan.To the best of the knowledge of the Founders, the execution,
delivery and performance of the Definitive Agreements will not
violate, conflict with, result in a breach of the terms, conditions
or provisions of, or constitute a default, an event of default or an
event creating rights of acceleration, modification, termination or
cancellation or a loss of rights under any or all of the
following: (1)
any contract to which the Company or the Founders are parties;
(2) any court order to which the Company or any Founder is a party
or by which the Company or any Founder is bound; (3) any Laws
affecting the Company or the Founders; or (4) any other binding
obligations of the Company or the Founders.
    
    No disclosures.All Approvals or acts of, or the making by, the Company or the
Founder(s) of any declarations, filings or registrations with any
governmental bodies as may be required by Law in connection with the
execution of the Definitive Agreements and the effecting of the
transactions contemplated by the Definitive Agreements have been
obtained and/or completed.
    
    All approvals, declarations, filings and registrations
required for the execution of the Definitive Agreements
have been obtained.Financial StatementsThe Balance Sheets of the Company (balance sheets and
statements of accounts) as of March 31, 2007 (the Balance Sheet
Date), March 31, 2006, March 31, 2005 and March 31, 2004
(collectively the Financial Statements) have been provided to the
Purchaser. The Financial Statements present fairly and truly in all
    
    No disclosures save and except that the Balance Sheet of
March 31, 2007 is proforma and un-audited.
 121




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##### 



Item
    
    Disclosurematerial respects the financial position and results of operations
of the Company, as of the respective dates and for the respective
periods covered thereby and have been or are prepared in accordance
with Indian GAAP, consistently applied. The Financial Statements
present true and complete representations of the assets and
liabilities of the Company as of the dates specified therein. The
Company has established and maintains, adheres to and enforces a
system of internal accounting controls that are effective in
providing assurance regarding the reliability, completeness and
accuracy of financial reporting and the preparation of financial
statements in accordance with Indian GAAP (including the Financial
Statements).Operations since Effective DateSave and except as specifically disclosed in writing, since the
Balance Sheet Date till First Closing Date:There has been no Material Adverse Effect and/or no event which
would materially affect the ability of the Company to continue to
operate the Business as conducted, or as contemplated by this
Agreement.
    
    No disclosures.The Company has not issued or authorized for issuance any equity
shares, bond, note or other security of the Company.
    
    No disclosures.The Company has not without the consent of the Purchaser (if so
required), incurred any material debt, obligation or liability that
exceeds Rs. 5,00,000 in an individual transaction.
    
    The agreement between Marketics Inc. and Gabriel Systems
(Glen Springer) is being renewed.The Company has not purchased, redeemed or otherwise acquired,
directly or indirectly, any share or shares of the Companys
capital.
    
    No disclosures.The Company has not created, voluntarily or involuntarily, any
Encumbrance upon any of its assets or properties.
    
    No disclosures.The Company has not sold any of its assets or properties which has a
book value in excess of Rs. 1,00,000
    
    No disclosures.
 122




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##### 



Item
    
    DisclosureThe Company has not purchased any securities of any Person.
    
    No disclosures.The Company has not incurred any expenditure for the purchase,
acquisition, construction or improvement of any equipment or capital
asset in excess of Rs. 5,00,000 in an individual transaction.
    
    The Company has purchased a back-up generator on April 05,
2007 worth approximately Rs. 7,31,500 (Rupees Eight Lakhs
only).The Company has not made any loan to any Person in excess of Rs. 10
Lakhs in the aggregate.
    
    No disclosures.The Company has not amended, terminated or failed to renew any
material contract that is due for renewal.
    
    No contracts relating to the top ten clients of the
Company are pending renewal. The following agreements have
not been renewed as of the date hereof, and are being
renewed;Agreement with Gabriel Systems (Glen Springer)MSA with Avery DennisonLOI with Huron ConsultingThe Company has not failed to claim outstanding accounts
receivables, deferred payments of accounts payable, or prepaid any
obligation in excess of Rs. 10,00,000.
    
    No disclosures.To the best of the Founders Knowledge, the Company or its assets
have not become subject to any Encumbrance.
    
    No disclosures.The Company has not changed its accounting methods or practices 
or, written off any reserves other than as disclosed in the 
financials
    
    No disclosures save and except the change in accounting
policy for revenue recognition in 2006-07 for US GAAP.
 123




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##### 



Item
    
    DisclosureThe Company has not revalued its assets.
    
    No disclosures.To the best of the Founders Knowledge, the Company or its directors,
officers or employees have not received any notices, or Knowledge of
any nature whatsoever which would indicate litigation, liability, or
any extraordinary cost from any third parties, past or present
employees, or governmental bodies against the Company which shall
result in a Material Adverse Effect.
    
    No disclosures to the best of the Founders Knowledge.(xix) The Company has not registered any transfer of Shares other
than those recorded in the share transfer register issued to
Employees prior to the Effective Date.
    
    No disclosures.(xxi) The Company has adequately provided for all amounts
(including Taxes) that should have been accounted for or reserved by
it in the ordinary course of business in accordance with Indian GAAP
and the same is reflected in the financial statements
    
    No disclosures.(xxii) The Company has not made any investments, save and except
for investments in the Subsidiary and capital expenditure not
exceeding USD 50,000/-. For the purposes of this clause, the term,
Investments shall be deemed to exclude fixed deposits, mutual
funds and other money market instruments.
    
    No disclosures.No Undisclosed LiabilitiesThe Company has no material obligations or liabilities of any nature
(whether accrued, absolute, contingent, or otherwise) other than:
    
    No disclosures.those set forth or adequately provided for in the Balance Sheet; and
    
    No disclosures.those incurred in the ordinary course of business since the Balance
Sheet Date being 31 March 2006 and consistent with past practice.
    
    No disclosures.TaxesThe Company has filed or caused to be filed in a timely manner
all Tax Returns
    
    No disclosures.
 124




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##### 



Item
    
    Disclosurerequired to be filed by the First Closing Date. All Taxes due as of
the First Closing Date have been paid. Further, there are no claims,
proceedings or actions pending relating to Taxes, in respect of the
Company.AssetsAll movable assets required for carrying on the Business of the
Company as is presently being carried on: are in normal working
condition and good working order subject to normal wear and tear;
and
    
    No disclosures.Except as disclosed in the Financial Statements, all the assets of
the Company, whether movable or immovable, real or tangible, are
free and clear of all Encumbrances of any nature whatsoever and
other than the Company, no other party, including the Founders, has
any subsisting rights, claim or title over such assets, including
the right to possess or use such assets.
    
    Save assets that are bonded to fulfill STP requirementsThe immovable assets of the Company, including, without limitation,
equipment and machinery, owned, leased, or licensed by the Company
or employed by it, are in serviceable condition and repair for use
thereof in the ordinary course of business.
    
    No disclosures.Property LeasesCopies of each contract under which the Company leases, holds or
operates any real property owned by any third Person or subleases
any real property to any third Person has been made available to the
Purchaser as disclosed in Schedule J.
    
    See Schedule J to the Disclosure LetterNo material breach of any covenant affecting the freehold or
leasehold title to any asset of the Company has occurred and in
relation to each leasehold property, the
    
    No disclosures.
 125




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##### 



Item
    
    Disclosurerent has been paid in accordance with the relevant agreements. There
do not exist any easements over the immovable assets, which would
materially affect the Companys use and enjoyment of the immovable
assets.Where any immovable and movable assets are used in the Business but
not owned by the Company or any facilities or services are provided
to the Company by any third party, there has not occurred any event
of default or any other event or circumstance, which may entitle any
third party to terminate any agreement or license in respect of the
provision of such facilities or services (or any event or
circumstance which with the giving of notice and/or the lapse of
time and/or a relevant determination would constitute such an event
or circumstance).
    
    No disclosures.Governmental PermitsThe Company possesses all licenses, permits, registrations,
approvals and other authorizations from governmental authorities
necessary to entitle it to carry on and conduct its Business as
currently conducted (collectively Governmental Permits), except
for governmental permits which, if not possessed by the Company,
would not, individually or in the aggregate, be material to the
Company. The Company has performed all obligations under each
Governmental Permit which are required for such Governmental Permit
to be continuing, valid and subsisting. No event has occurred or
condition or state of facts exists which constitutes or, after
notice or lapse of time or both, would constitute a breach or
default under, or which would allow revocation or termination of,
any Governmental Permit. To the best of the Founders Knowledge, the
Company has not received notice of cancellation, default or any
dispute concerning any Governmental Permit which, if not possessed
by the Company, would, individually or in the aggregate, be material
to the Company.
    
    The Company possesses the following licenses, permits,
registrations, approvals and other authorizations from
governmental authorities Provident Fund
Profession Tax
Commercial Tax Office (Sales Tax / VAT)
Shops & Establishment
STPI
Customs
Income Tax (PAN / TAN)
Ministry of Commerce (IEC)
Registrar of Companies
RBI approval for WOS in US
 126




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##### 



Item
    
    DisclosureIntellectual PropertyThe Company as reasonably permitted and disclosed, owns all the
Intellectual Property. For the purposes of this Clause, the term
Intellectual Property shall include all of the following
categories of Intellectual Property owned by the Company: copyrights
and all renewals thereof on software developed by the
Company; trademarks, trade names, service marks, service names,
logos and corporate names, both primary and secondary, together with
all goodwill associated therewith and including, without limitation,
all translations, adaptations, combinations and derivations of each
of the foregoing; all other intellectual property, including but not
limited to design rights, trade names and domain names;
    
    No disclosures.The Intellectual Property is fully transferable, assignable,
alienable and licensable by the Company following the Effective Date
without restriction and without payment of any kind to any third
party.
    
    No disclosures.The Intellectual Property is free and clear of any liens, charges or
any Encumbrance by whatever name and is freely transferable at the
option of the Company.
    
    No disclosures.In each case in which the Company has acquired the Intellectual
Property from any Person (including any Affiliate), the Company has
obtained a valid and enforceable assignment sufficient to
irrevocably transfer all rights in such Intellectual Property
(including the right to seek past and future damages with respect
thereto) to the Company. The Company has recorded each such
assignment of the Intellectual Property with the appropriate
authority.
    
    No disclosures.The Company has no Knowledge of any facts or circumstances that
would render any Intellectual Property rights invalid or
unenforceable.
    
    No disclosures.
 127




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##### 



Item
    
    DisclosureThe Company has not transferred ownership of, or granted any
exclusive license of or right to use, or authorized the retention of
any exclusive rights to use or joint ownership of, any Intellectual
Property to any other Person (including to any Affiliate of
Company). The Company has not allowed the Companys rights in the
Intellectual Property to lapse or enter the public domain.
    
    No disclosures.There are no contracts, licenses or agreements between the Company
and any other Person with respect to any rights on the Intellectual
Property, under which there is any dispute regarding the scope of
such agreement, or performance under such agreement, including with
respect to any payments to be made or received by the Company
thereunder.
    
    No disclosures.To the Knowledge of the Founders, there is no suit, or notice
whether pending for infringement against any of the Intellectual
Property.
    
    No disclosures.SubsidiaryThat the Subsidiary is a 100% subsidiary of the Company. For the
purposes this sub-clause (m) the Company shall be referred to as the
Parent.
    
    No disclosures.Other than Parent, the Subsidiary has no other affiliate or
subsidiaries.
    
    No disclosures.The Subsidiarys employees use the Connecticut location for all
written communications including business cards and e-mail return
addresses.
    
    No disclosures.Subsidiary has no office outside the United States of America.
    
    No disclosures.As to the Subsidiary, there have been no circumstances which have
given rise to any insolvency proceedings occurring. For the purposes
of this sub-clause, the term insolvency proceedings includes any
form of bankruptcy, liquidation, receivership, administration,
arrangement or plan with creditors, moratorium, stay or limitation
of creditors rights, interim or provisional supervision by the
court or court appointee, whether in the jurisdiction of the place
of control, or of incorporation or residence, or elsewhere.
    
    No disclosures.
 128




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##### 



Item
    
    DisclosureThe Subsidiary and their respective directors, officers and
employees has complied with all US federal, state and local
statutory and regulatory duties.
    
    The Subsidiarys approvals for doing business in the State
of New Jersey had lapsed and the Subsidiary is in the
process of obtaining the requisite approvals.The Subsidiary has been duly qualified to transact business as a
foreign operating company in every state and other jurisdiction
where it has conducted business and its in good standing (including
for tax matters) in each such jurisdiction, and has received no
notices of default, violation or breach of any of them.
    
    The Subsidiarys approvals for doing business in the State
of New Jersey had lapsed and the Subsidiary is in the
process of obtaining the requisite approvals.The Parent has provided to the Purchaser copies of all agency,
distributorship, marketing, purchasing, manufacturing or licensing
agreements or arrangements to which the Subsidiary and/or any of its
subsidiaries is a party.
    
    No disclosures.There is/ are no agreement(s) to which the Subsidiary is a party,
which in any way restricts its freedom to carry on its business in
the United States of America
    
    No disclosures.There is/are no agreement(s) or arrangement(s), to which the
Subsidiary is a party, and which:infringes any relevant anti-trust or similar legislation in any
jurisdiction in which the Subsidiary carries on business or has
assets or sales; or
    
    No disclosures.is void or unenforceable (whether in whole or in part) or may render
the Subsidiary liable to proceedings under any such legislation as
is referred to in subparagraph (a) above.
    
    No disclosures.There is/are no agreement(s) or arrangement(s) for any business
practices to which the Subsidiary is now a party, or has been a
party during the last two years, in respect of which:any request for information, statement of objections or similar
matter has been received from any court, tribunal, governmental,
national or supra-national authority; or
    
    No disclosures.
 129




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##### 



Item
    
    Disclosureany correspondence has been conducted between the Subsidiary and any
court, tribunal, governmental, national or supra-national authority.
    
    No disclosures.There are no business machinery and equipment, motor vehicles any
other fixed assets owned by the Subsidiary.
    
    There are no fixed assets.The Subsidiary has not entered into any hire purchase and leasing
contracts with respect to any fixed assets.
    
    There are no fixed assets.There are no real properties owned, controlled, used or occupied by
the Subsidiary (including any freehold, leasehold, mortgages).
    
    The Subsidiary has entered into a lease agreement with Mr.
Prabhu Jha, in respect of which Mr. Jha has waived his
right to receive rent.The Subsidiary has no equipment which is not: (a) in good repair and
condition and/ or (b) in satisfactory working order and/or (c)
properly serviced and maintained and/ or (d) in surplus to
requirements of the business of the Subsidiary;
    
    No disclosures.The Subsidiarys authorised share capital is 1,000 shares of Common
Stock, no par value per share.
    
    No disclosures.The issued share capital of each class (indicating which shares are
not fully paid up or credited as fully paid up) is: 1,000 shares of
common stock.
    
    The issued share capital of the Subsidiary consists of one
share of the common stock.There are no treasury shares, share option agreements or
arrangements and/or preemption rights and/or conversion rights over
the Subsidiarys share capital (whether issued or not).
    
    No disclosures.There are no liens, mortgages, charges or encumbrances over the
share capital of the Subsidiary.
    
    No disclosures.There are no contracts entered into by the Subsidiary within the
past two years which are not entirely of an arms length nature.
    
    The Company has advanced a zero interest loan to the
Subsidiary of USD 475,913.00 in the aggregate.
 130




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##### 



Item
    
    DisclosureDate of
disbursement
    
    Amount in USD15-Dec-05
    
    
    41,00011-Jan-06
3-Apr-06
18-Apr-06
26-Apr-06
16-May-06
24-Jul-06
25-Aug-06
5-Sep-06
    
    
    20,000
15,000
35,000
32,000
30,913
60,000
67,000
175,000Total
    
    
    475,913To the best of the Knowledge of the Founders, there are no breaches
of contract which may give rise to any, litigation, arbitration or
any other dispute resolution procedure involving the Subsidiary.
    
    No disclosures.There is no default by the Subsidiary and/or its subsidiaries under
any agreement, trust deed, instrument or arrangement.
    
    No disclosures.There are no existing or pending litigations or judgments affecting
the Subsidiary and/or its assets.
    
    No disclosures.To the best of the Knowledge of the Founders, there is no
investigation, inquiry or enforcement proceedings or process by any
governmental, administrative or regulatory body.
    
    The Subsidiarys approvals for doing business in the State
of New Jersey had lapsed and the Subsidiary is in the
process of obtaining the requisite approvals.All current employees of Subsidiary have signed the three-page
Terms and Conditions of Employment bearing 10 numbered
paragraphs, in the form submitted to Purchaser on or about March
27, 2007 by Debbie Brosy. Subsidiary retains one original fully
executed original of each such document.
    
    No disclosures.
 131




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##### 



Item
    
    DisclosureThe Company has presumed that all persons classified as consultants
have been properly classified for all regulatory, tax and compliance
purposes, and the Subsidiary is not liable for any taxes, insurance,
compensation, pension or employment plan, registration, interest,
penalties or other liabilities as to any consultant under applicable
employment law.
    
    No disclosures.The Subsidiary has paid in full to all its employees or adequately
accrued for in accordance with U.S. GAAP all wages, salaries,
commissions, bonuses, benefits and other compensation due to or on
behalf of such employees.
    
    No disclosures.The Subsidiary has no:employee benefit plans (as defined in of the Employee Retirement
Income Security Act of 1974, as amended (ERISA)) and no bonus,
stock option, stock purchase, restricted stock, incentive, deferred
compensation, retiree medical or life insurance, supplemental
retirement, severance or other benefit plans, programs or
arrangements, and all employment, termination, severance or other
contracts or agreements, whether legally enforceable or not, to
which the Subsidiary is a party, with respect to which the
Subsidiary has any obligation or which are maintained, contributed
to or sponsored by the Subsidiary for the benefit of any current or
former employee, officer or director of the Subsidiary, other than
retention bonus as reflected in the Balance Sheets.
    
    Employees of the Subsidiary are paid a retention bonus in
the month of October every year in respect of the duration
of the employees employment with the Subsidiary.
 
Employees of the Subsidiary are paid a discretionary
performance based bonus in the month of June every year in
respect of the performance of such employees in the
preceding financial year.employee benefit plan for which the Subsidiary could incur liability
in the event such plan has been or were to be terminated;
    
    No disclosures.contracts, arrangements or understandings between the Selling
Shareholders or any of their Affiliates and any employee of the
Subsidiary, including, without limitation, any contracts,
arrangements or understandings relating to the sale or change in
control of the Subsidiary.
    
    Save and except: 
Shareholders Agreement dated August 21, 2004 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra and Mr. Shankar Maruwada;Subscription Agreement dated November 1, 2004 entered into
between the
 132




---



##### 



Item
    
    DisclosureCompany and Mr. Glen M. Springer;Shareholders Agreement dated July 18, 2005 entered into
between the Company, Mr. Ganesh Krishnan, M/s Spark
Capital Advisors (India) Private Limited, Mr. S.
Ramakrishnan, Mr. Vinay Mishra , Mr. Shankar Maruwada and
M/s Tawny Dove Limited;Shareholders Agreement dated December 23, 2005 entered
into between the Company, Mr. Raji Raju, Mr. S.
Ramakrishna, Mr. Vinay Mishra, Mr. Shankar Maruwada, Mr.
Ganesh Krishnan, Spark Capital Advisors and M/s Tawny Dove
Limited; andShare Subscription Agreement dated November 1, 2005
entered into between the Company and Infernotions
Corporation.Share Subscription Agreement dated August 17, 2006 entered
into between the Company and M.S.Krishnan.To the best of the knowledge of the Founders, he Subsidiary is not
liable to any third party for any infringement of intellectual
property (including without limitation any patent, copyright, trade
secret, or trademark) of a third party. Neither Parent nor
Subsidiary has any actual notice of any claims of any such possible
infringement or that any intellectual property of the Parent or
Subsidiary is not validly owned by such entity.
    
    No disclosures.Liability(i) The Company does not have any pending litigation arising out
of any injury to individuals or property as a result of the use of
any services of the Company in excess of USD 50,000/
    
    No disclosures.(ii) There are no loans taken, guarantees issued and other
similar obligation assumed by the Company,.
    
    None subsist, save and except those given in respect of
STP bonding.
 133




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##### 



Item
    
    Disclosure(iii) To the best of the knowledge and belief of the Founders, there
are no outstanding claims/liabilities of and/or against the Company
that have resulted in the Company being in default of the above
obligations or the above obligations being invoked, as applicable.
    
    No disclosures.Compliance with Laws and LitigationThe Company has complied with all Applicable Laws, is not in
violation in respect of any Law, and has not received any notices of
violation of any Law with respect to the conduct of Business or the
ownership or operation of its assets. The Company has also complied
with all US law and regulatory duties including all federal, state
and local laws in so far as it relates to applicable Customer
Contracts.
    
    No disclosure.There is no private or governmental action, suit proceeding, claim,
arbitration or investigation pending before any agency, court or
tribunal, foreign or domestic, which, to the Knowledge of the
Founders, is threatened or ongoing against the Company.
    
    No disclosures.There is no judgment, decree or order against the Company, or any of
its Founders (in their capacities as such), that could prevent,
enjoin, or materially alter or delay any of the transactions
contemplated by this Agreement, or that may be material to the
Purchaser.
    
    No disclosures.The Company does not have any pending litigations from Tax or other
authorities under any Law in force which currently have a bearing on
the Business.
    
    No disclosures.InsuranceThe list of all insurance policies covering the assets, business,
equipment, properties and liabilities of the Company as set out in
Schedule P has been provided to the Purchaser.
    
    See Schedule P to the Disclosure Letter
 134




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##### 



Item
    
    DisclosureThe insurance policies provide sufficient cover, commensurate as per
normal industry practise, against any injury, damage, loss, harm of
the entire assets, stock, machinery, stock in transit, liability
and/or services of the Company.
    
    No disclosures.There is no claim by the Company pending under any of such
policies.
    
    No disclosures.All premiums due and payable under all such policies have been paid
and the Company is otherwise in compliance with the terms of such
policies. There is no threatened termination of, or material premium
increase with respect to, any of such policies in excess of Rs.
50,000.
    
    No disclosures.There are no insurance claims and liabilities, outstanding or
otherwise, payable to any Person by the Company in excess of Rs.
5,00,000.
    
    No disclosures.ContractsA list of the customer, and employee contracts, to which the Company
is a party or by which it is bound, as set out in Schedule Q, has
been provided to the Purchaser.
    
    See Schedule Q to the Disclosure LetterEach of the contracts to which the Company is a party (Business
Agreements) constitutes a valid and binding obligation of the
Company.
    
    No disclosures.Each of the contracts listed in (i) above, are in full force and
will continue in full force and effect after the Effective Date
without the consent, approval or act of, or the making of any filing
with, any other party. To the best of the knowledge of the Founders,
the Company is not in material breach or default under any of the
Business Agreements.
    
    See Schedule Q to the Disclosure LetterBanksThe names and addresses of all banks at which the Company has an
account has been set out in Schedule R hereto.
    
    No disclosures
 135




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##### 



Item
    
    DisclosurePotential Conflicts of InterestNo Founderowns, directly or indirectly, any interest in, or is an officer,
director, employee or consultant of, any Person that is, or is
engaged in Business as, a current competitor;
    
    No disclosures.owns, directly or indirectly, in whole or in part, any intellectual
or other property that the Company uses in the conduct of the
Business;
    
    No disclosures.has any claim whatsoever against, or owes any amount to, the
Company, and
    
    Rs. 1,92,000 has been paid by the Company as refundable
deposit towards the residence of Shankar Maruwada. Rs.
1,25,000 has been paid by the Company as refundable eposit
towards the residence of Mr. Vinay Mishrahas any agreement in relation to matters set out in (i) to (iii)
above existing on the date hereof.
    
    No disclosures.Information Technology Matters:(i) The use of the computer systems by the Company does not to
the best of the Knowledge of the Founders, infringe the intellectual
property rights of any third party.
    
    No disclosures.(ii) The Company has exclusive control of the operation of the
computer systems and of the storage, processing and retrieval of all
data stored on the computer systems and any intellectual property
rights in such data are owned solely by the Company other than data
provided by clients of the Company and consultants in the ordinary
course of business.
    
    The email server of the Company is maintained by Google
Inc.
 136




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##### 



Item
    
    DisclosureGood TitleEach of the Selling Shareholders has and will have on the First
Closing Date and the Second Closing Date, good and marketable title
to the Sale Shares set forth opposite such Selling Shareholders
name in Schedule 1 hereto, free and clear of any and all
Encumbrances, equities, and claims whatsoever, with full right and
authority to deliver the same under this Agreement, and upon
delivery of the Shares set forth opposite such Selling Shareholders
name in Schedule 1 hereto and payment of the consideration therefor
as contemplated in this Agreement, will convey to the Purchaser good
and marketable title to such Sale Shares free and clear of all
Encumbrances, equities, pre-emptive rights, rights of first refusal,
and any other claim of the Selling Shareholders or any third party.
    
    No disclosures.EmployeesTo the best of the knowledge of the Founders and based on the
information obtained by them from the Employees, the details
disclosed to the Purchaser by the Founders about the employees as
set out in Schedule 5 are accurate, up to date and complete in all
respects and not misleading. The particulars of the terms and
conditions of employment of the employees as set out in Schedule 5
are accurate, up to date and complete in all respects and not
misleading.
    
    No disclosuresThere are no employment-related disputes involving the employees as
party (ies), or otherwise affecting their rights or obligations
under the relevant employment agreement, pending or threatened
against the Company and the Founders.
    
    No disclosures.There is no industrial or trade dispute or any dispute or
negotiation regarding a claim with any trade union.
    
    No disclosures.To the best of the Founders Knowledge, no director or other Key
Employee has received written intimation of their intent to
terminate his/her employment with the Company as a result of the
transactions contemplated by this Agreement or otherwise.
    
    No disclosures.
 137




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##### 



Item
    
    Disclosure(y) Related Party TransactionsThe Company is not party to any transactions with any related
parties, being a related party as defined under the Act.
    
    Save as disclosed in the Balance Sheets in respect of:
Sales commission paid to CRM Holding Private Limited,
Transaction Fees and other payments to Spark Capital 
Advisors (India) Private Limited,
Professional fees paid to Mr. MS Krishnan;
Professional fees and commissions paid to Mr. Glen
Springer; 
Retainership fees paid to Infernotions Corporation; 

Zero interest loans advanced to the Subsidiary;

Sales commissions paid to the Subsidiary; 

Professional fees paid by the Subsidiary; 

Salaries paid to employees.(ii) No related party or any member of his or her immediate
family is indebted to the Company, nor is the Company indebted (or
committed to make loans or extend or guarantee credit) to any of
them
    
    Rs. 1,92,000 has been paid by the Company as refundable
deposit towards the residence of Shankar Maruwada.
Rs. 1,25,000 has been paid by the Company as refundable
eposit towards the residence of Mr. Vinay Mishra(zb) OtherTo the best of the knowledge of the Founders, The Historical Revenue
and PAT for the Company is in line with Indian GAAP and normal
business practices of the past
    
    No disclosures.Each of the representations and warranties shall be construed as a
separate representation, warranty, covenant or undertaking, as the
case may be, and shall not be limited by the terms of any other
representation or warranty or by any other term of this Agreement.
    
    Not applicable.There have been no Stock Options (whether vested or not) capable of
being converted into Shares at any time in future and the
shareholding pattern of the Company, as of the date of this
Agreement and immediately prior to the First Closing Date, is as set
forth in Schedule 1 hereof.
    
    There are no such options currently subsisting.
 138




---



##### 



Item
    
    DisclosureThe Company, as of the date of this Agreement, is not in anyway
indebted to any third party with respect to any loans, advances,
financial assistance or credit facilities provided to the Company;
    
    Save and except any customer advances and current
liabilities and provisions including employee, vendor and
creditor dues as provided for in the Balance Sheets.The Company has not, as of the date of this Agreement, availed of
any foreign currency denominated loans;
    
    No disclosures.As of the First Closing Date, other than the shareholders
agreements terminated in accordance with section 3.2 (j) there exist
no other agreements relating to the Shares and governance of the
Company.
    
    No disclosures.
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 139




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##### 



Schedule J to Disclosure Letter  List of Leases
 Rent Agreement/Lease Deed made between Mr. Arvinder Singh, Mr. Tarunjit Singh, Ms. Majeet Kaur,
Mr. Gagandeep Singh of the First Part and Marketics Technologies (India) Pvt. Ltd. of the Second
Part
 Sl No.
    
    Description of Property
    
    Area
    
    Date1.
    
    No. 1137, 100 Feet
Road, HAL II Stage,
Indiranagar, Bangalore
560 038, comprising
the Ist floor of the
built-up area of the
said property without
car-parking facility
within the Premises.
    
    4000 sq. ft.
    
    July 1, 2006 (Rent
Agreement)2.
    
    No. 1137, 100 Feet
Road, HAL II Stage,
Indiranagar, Bangalore
560 038, comprising
the 2nd floor of the
built-up area of the
said property without
car-parking facility
within the Premises.
    
    4116 sq. ft.
    
    January 21, 2006
(Rent Agreement)3.
    
    No. 1137, 100 Feet
Road, HAL II Stage,
Indiranagar, Bangalore
560 038, comprising
the 3rd floor of the
built-up area of the
said property.
    
    3870 sq. ft.
    
    November 1, 2005
(Lease Deed)4.
    
    No. 1137, 100 Feet
Road, HAL II Stage,
Indiranagar, Bangalore
560 038, comprising
the 4th floor of the
built-up area of the
said property.
    
    450 sq. ft.
    
    November 1, 2005
(Rent Agreement)
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 140




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##### 



Schedule P to Disclosure Letter  List of Insurance Policies of the Company
 Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableCompact 
Policy
    
    United India
InsuranceCompanyLimited
    
    071600/ 48/ 06/ 88/ 00000909
    
    October 19, 2006
toOctober 18, 2007
    
    I. Buildings, Contents
including incidental stock
    
    Building: 50,00,000
All other contents:1,25,08,321
    
    Rs. 81,229 Extra premium: 18,569
(Paid on
13.2.2007)Loss or damage to
1. buildings,
2. contents and
3. legal liability arising
    as tenants of the
    insured premises
due to fire, lightning,
aircraft damage, riot,
strike, malicious damage, storm,
cyclone, typhoon, tempest, hurricane, tornado, flood,
    
    All other contents:
1,25,08,321
Electrical and Mechanical
Appliances: 44,19,972
Electronic Equipments:
41,39,244
Wages and Salary (In
transit): 2,00,000
Money in Office in locked
safe outside business hours: 20,000inundation, impact
damage, landslide,
missile testing
operations, bursting / overflowing
of water
tanks, leakage from
automatic sprinkler, bush fire.
    
    Public Liability:
10,000 Computers: 16,59,517
(added on 13.2.2007)
Baggage: Rs.5,000
Special Contingency policy
for Laptops, Mobiles, etc
Rs.23,87,387/-
Special Contingency policy
for Laptops, Mobiles,
Compact Insurance for other
fixed assets.
Rs. 1,94,73,656
    
    Rs.67,771/-
Paid on 18-Oct-06Extra premium: 13,292
(Paid on
13.2.2007II. Burglary and
Housebreaking 

Loss or damage to the
contents of the insured
premises due to burglary
and housebreaking
    
    The schedule appended does
not disclose premium
amounts paid for insurance
on Personal Accident and
 141




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##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableIII. Electrical and
Mechanical Appliances
Loss or damage due to
unforeseen and sudden
accidental physical
damage caused by
mechanical and electrical
breakdown
IV. Electronic
Appliances
    
    Infidelity/ Dishonesty of
Employees, therefore, these
insurance covers have not
been subscribed to by the
company.Loss or damage due to
any case other than those
specifically excludedV. MoneyLoss due to accident of
money relating to
profession or business
while in transit from and
to the insured premisesVI. Personal AccidentCompensation for death,
disablement solely and
directly caused by
accidental, violent,
external and visible
means.VII. Infidelity/Dishonesty
of
Employees
 142




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##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableDirect pecuniary loss
caused by act of fraud or
dishonestyVIII. Legal liabilityTo pay compensation for
injury or damage to third
parties and employeesIX. Fixed glass/ sanitary
fittings/ neon signs/
hoardingsLoss or damage due to
accidental breakageGroup mediclaim 
policy
    
    United India
Insurance
Company
Limited
    
    071600/ 48/ 06/
21/ 00000247
    
    June 1, 2006 to
May 31, 2007
    
    Insured event:
hospitalization expenses
in the event of disease,
illness or bodily injury.
Maternity Expenses
covered 
Exclusions:
Pre-existing diseases,
Any disease not stated in
the insurance contract
injury/disease
attributable to
war/foreign invasion
Cost of spectacles, lenses
Dental treatment
Circumcision
Convalescence, general
debility
    
    190 employees @ 1,00,000
= 1,90,00,000
Details
On 1.2.2007
Added 1 @ 1,00,000 =
1,00,000
On 4.1.2007
Added 9 @ 1,00,000 =
9,00,000
On 22.11.2006
Added 19 @ 1,00,000 =
19,00,000
On 20.11.2006
Deleted 15 @ 1,00,000 =
15,00,000
    
    2,60,016Details
8.2.2007
Rs.451
1.2.2007
Rs. 478
4.1.2007
5,364
22.11.2006
Rs. 20,053
20.11.2006
Recd: Rs. 5253
18.10.2006
 143




---



##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableCharges for diagnosis
Expenses for vitamins
Treatment arising from
pregnancy
Naturopathy treatment
    
    On 18.10.2006
Added 24 @ 1,00,000 =
24,00,000
On 18.10.2006
Deleted 15 @ 1,00,000 =
15,00,000
    
    21,091
18.10.2006
Recd: Rs. 13,259Commercial
General Liability 
Policy
    
    Tata AIG
General
Insurance Co.
Ltd.
    
    0300003020
    
    January 3, 2007
to
January 2, 2008
    
    A. Bodily injury and
Property Damage
Exclusions: Expected
injury, Contractual
liability on the part of the
insured, Liquor liability,
liability under the
workmens
compensation act and
similar laws, employers
liability, injury arising
out of pollution/ use of
aircraft, auto, watercraft,
mobile equipment, war 
B. Personal and
Advertising Injury
Liability
    
    General Aggregate Limit:
INR 88,700,000 Any one
occurrence and in the
aggregate
Personal & Advertising
Injury Limit: INR
44,350,000. Any one
occurrence and in the
aggregate
Fire Damage Limit: INR
221,750 per occurrence
Medical expense limit: INR
44,350 per person
    
    Rs. 3,43,471C. Medical Payments
D. Territory &
jurisdiction:Worldwide
including USA &
Canada 
Exclusions:1. Advertising legal
    liability
 144




---



##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payable2. Care, Custody &
    Control3. Professional liability4. Fines, Penalties,
    Punitive, Exemplary
    damage.5. War and Terrorism6. Property damage to
    electronic data
    (computer software
    manufacturing)Professional
Liability Policy
    
    Tata AIG
General
Insurance Co.
Ltd
    
    2300001446
    
    January 3, 2007
to
January 2, 2008
    
    All damages resulting
from any claim for any
breach of duty,
infringement of
intellectual property,
defamation,
fraud/dishonesty of
employees
    
    Limit of Liability:
90,000,000 (in aggregate)
    
    Rs. 7,57,620Endorsements: USA/Canada
jurisdiction
endorsementExclusions:Anti-trust violations
Failure to achieve legally
required standard of care
Inaccurate pre-assessment cost of
performing professional
services
Claim arising out of
employment
discrimination
Insolvency.
 145




---



##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableFailure of infrastructure 

Joint ventures 

Arising out of misdeeds 

PollutionComprehensive
Umbrella Liability 
Policy
    
    Tata AIG
General
Insurance Co.
Ltd
    
    0300003797
    
    August 17, 2006
to
August 17, 2007
    
    Territory & jurisdiction:
Worldwide including
USA & Canada
Exclusions:
    
    Limit of Liability:
92,000,000 (US$2,000,000)
Any one event and in
aggregate
    
    Rs. 2,50,000Occupational diseases as
defined under the
Workmens
Compensation Act are
not covered under this
policy.
Laws:Workmens
Compensation
Policy
Workers
Compensation and
Employers
Liability Policy
    
    Tata AIG
General
Insurance Co.
Ltd
The Hartford
    
    0300003611
76 WEG
RQ6511
    
    June 26, 2006
to
June 25, 2007
June 2006 to
June 2007
    
    1. Workmens
Compensation Act, 1923
2. Fatal Accidents Act,
1855
    
    Limit of Liability:
85,000,000
    
    Rs. 1,26,607Coverage:1. Workers
Compensation Insurance
 146




---



##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableas applies to the
Workers Compensation
Law of the states: CA,
CT, GA.2. Employers Liability     Insurance:7. Bodily injury by
   Accident:$100,000
   each accident. 
8. Bodily injury by
   disease: $500,000
   each accident.
1. Bodily injury by
   disease: $100,000
   each employee.Crime 
Insurance 
policy
    
    HDFC Chubb
General
Insurance
    
    EPC0000024000
100
    
    January 3, 2007
to
January 2, 2008
    
    2. Loss of
   money/securities
   caused by theft or   forgery by an Employee
    
    Limit of Liability:
Employee Theft: 88,700,000
Premises Coverage:88,700,000
    
    Rs. 448,006Company Ltd.
    
    
    
    
    
    
    
    3. Loss caused by
    
    Transit Coverage:88,700,000actual destruction,
   disappearance or
   computer theft of
money    or securities from 
   premises
    
    Depositors Forgery
Coverage: 88,700,000
Computer Fraud Coverage: 88,700,0004. Loss due to
destruction,
   disappearance of
money    or securities
while in    transit from
and to the    insured
premises in the
   hands of the insured,
   partner of the
 147




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##### 



Type ofinsurance
    
    Name of
    
    
    
    
    
    Validity
    
    
    
    
    
    
    
    Premiumpolicy
    
    Insurer
    
    Policy No.
    
    Period
    
    Description of insurance
    
    Total Sum Insured
    
    payableinsured or an
employee.5. losses cause by
forgery    or alteration
   of, or in any    cheque,
draft, promissory 
   note, Bill of
   exchange or similar 
   instrument.6. Loss resulting from
   Computer fraud
 
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##### 



Schedule Q to Disclosure Letter  List of Customer Contracts of the Company
 Name of Company
    
    Name of Contract
    
    DateInternational Business 
Machines Corporation
    
    Technical Services Agreement.
    
    February 13, 2006Procurement Agreement for Exchange of
Confidential Information.
    
    August 22, 2005Statement of Work
(including Amendment to the SOW).
    
    May 1, 2006
(Amendment dated
July 11, 2006 and
February 22, 2007)Proctor & Gamble
Home Products Ltd.
    
    The Master Agreement
(expired on February 5, 2004)
    
    August 6, 2003The Master Agreement
(expired on February 5, 2005).
    
    February 6, 2004China Whisper SEM Research Contract
(expired)
    
    February 3, 2006Confidentiality disclosure agreement
    
    July 13, 2006Procter & Gamble
(GuangZhou) Limited
    
    China retailer differential analysis
contract (expired on December 30, 2004)
    
    September 30, 2004Procter & Gamble Home
Products Ltd. and
ACNielsen Korea
Limited
    
    Third Party Access Agreement
    
    August 24, 2004The Coca Cola
Company, 1 Coca Cola
Plaza N.W., Atlanta,
Georgia 30313, USA
(TCCC)
    
    Master Agreement for Research Services
    
    September 1, 2004Portfolio Optimization for the Coca Cola
Company
    
    September 24, 2004Statement of Work # 1
    
    September 1, 2004Statement of Work for CBL (TCCC uses CBL
studies for its strategic marketing
decision) (expired on October 31, 2005).
    
    April 1, 2005Onsite Business Analyst Statement of Work
    
    September 25, 2006Corporate K&I Analytics Support
    
    December 27, 2006Statement of Work
    
    December 8, 2006Resort Condominiums,
LLC
    
    Agreement laying down the framework for
the provision of services.
    
    Not MentionedMaster Information Technology & Computer
Consulting Services Agreement
    
    January 1, 2006Statement of Work for Global Revenue
Management and Analytics.
    
    January 1, 2007
 149




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##### 



Name of Company
    
    Name of Contract
    
    DateStatement of Work for Global Revenue
Management and Analytics. (expired on
December 31, 2006).
    
    January 1, 2006Statement of Work for Price Estimation
Project (expired on January 7, 2007).
    
    July 1, 2006A.S. Watson Group
    
    Contract for consulting services
(expired on October 15, 2005).
    
    July 1, 2005Contract for consulting services
(expired on September 30, 2005)
    
    August 15, 2005Tata Consultancy
Services
    
    Business associate agreement (expired on
December 31, 2003).
    
    April 1, 2003Extension of Agreement dated April 1,
2003 (expired on December 31, 2004).
    
    January 1, 2004Extension of Agreement dated April 1,
2003 (expired on December 31, 2005).
    
    December 15, 2004Avery Dennison OfficeProducts Company
    
    Confidentiality/non-disclosure agreement
    
    July 26, 2004Confidentiality/non-disclosure agreement
    
    January 1, 2005Letter of Intent
    
    September 16, 2005Letter of Intent
    
    June 3, 2005Master Services Consulting Agreement
(expired on February 28, 2007)

 Amendment
to Master Services Consulting Agreement
(March 1 to April 30, 2007)
    
    March 1, 2006

 March
23, 2007Miller Brewing Company
    
    Proposal for Strategic Brand Scorecard
    
    July 25, 2005PepsiCo Foods (China) 
Ltd Co
    
    Agreement (to analyze the data given by
clients more closely to obtain a deeper
understanding of snacks in China)
    
    November 1, MMA/Carat, Inc
    
    Confidentiality Agreement
    
    January 6, 2005Dunnhumby
    
    Agreement for Services
    
    December 31, 2006VNU Business Media
    
    Proposal for Sales Support Desk
    
    February 3, 2005GS
    
    Statement of Work
    
    January 6, 2004Remy Cointreau
    
    Proposal
    
    December 20, 2005ARCADIA Damsmanlik
Hizmetleri Ltd. Sti
    
    Market Information Equity Analysis
Contract
    
    04/07/2006
 150




---



##### 



Name of Company
    
    Name of Contract
    
    DateUSHE (NBC Universal
Inc.)
    
    Consulting Services Agreement
    
    December 1, 2006Statement of Work for Insights/ Analytic
Execution
    
    December 1, 2006Government Employees 
Insurance Companies
    
    Confidentiality & Non-Disclosure
Agreement
    
    February 14, 2006Statement of Work for Screens for Online
Applicants Processing Addendum (New
York)
    
    December 24, 2006Statement of Work for Screens for Online
Applicants Processing Addendum (New
York) (ended on June 29, 2006)
    
    April 4, 2006Statement of Work for Screens for Online
Applicants Processing Addendum (Five
City Addendum) (ended on August 11,
2006)
    
    July 10, 2006Infernotions 
Corporation
    
    Agreement for Services (ended on
September 31, 2006)
    
    September 26, 2005ADAC Laboratories (a 
Philips Medical 
Systems Company)
    
    Consulting Services Agreement
    
    February 15, 2006Gabriel Systems Inc.
    
    Consulting Services Agreement
    
    September 1, 2005Carlson Marketing
Worldwide Inc.
    
    Independent Contractor Agreement
    
    January 1, 2007M.S.Krishnan
    
    Consulting Agreement
    
    November 1, 2005Coca- Cola (China)
Beverages Ltd.
    
    Services Agreement
    
    April 11, 2007Levi Strauss & Co
    
    Services Agreement
    
    October 7, 2005Research Solutions LLC
    
    Consulting Agreement
    
    April 1, 2005
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##### 



Schedule R to Disclosure Letter
 List of Bank Accounts
 Details of Bank Accounts
 A. Marketics Technologies India Private Limited
 Sl. No.
    
    Account Number
    
    Account
    
    Bank Name
    
    Bank Address
    
    Authorised Signatories
    
    Signing limits1
    

    ************
    
    
    Current
    
    ICICI Bank Limited
    
    ICICI Bank Limited,
Koramangala Branch,
# 366-367,1-a Main,
VII Block,
Koramangala,
Bangalore 560 095,
India.
    
    S.Ramakrishnan, Vinay
Mishra, Shankar
Maruwada,
V.Krishnaraj & Ruchi
Kapoor
    
    All cheques above
Rs.20,000 are to be
signed by any 2 of
the authorised
signatories
mentioned above.2
    

    ************

    
    
    EEFC
    
    ICICI Bank Limited
    
    ICICI Bank Limited,
Indiranagar Branch,
Salarpuria House,
496, CMH Road,
Indiranagar,
Bangalore 560 008,
India
    
    S.Ramakrishnan, Vinay
Mishra, Shankar
Maruwada,
V.Krishnaraj & Ruchi
Kapoor
    
    All cheques above
Rs.20,000 are to be
signed by any 2 of
the authorised
signatories
mentioned above.3
    
    
    
    
    
    Fixed Deposit
    
    ICICI Bank Limited
    
    ICICI Bank Limited,
Koramangala Branch,
# 366-367,1-a Main,
VII Block,
Koramangala,
Bangalore 560 095,
India.
    
    Not Applicable4
    

    ************
********

    
    
    Fixed Deposit
    
    State Bank of Mysore
    
    HAL 2nd Stage
Branch,
Indiranagar,
Bangalore 560038.
    
    Not Applicable
 B. Marketics Inc.
 Sl. No.
    
    Account Number
    
    Account
    
    Bank Name
    
    Bank Address
    
    Authorised Signatories
    
    Signing limits1
    


    ************
    
    
    Current
    
    Bank Of America
    
    # 789, Howard
Avenue, New Haven,
CT-06510.
    
    Vinay Mishra
    
    No signing limit.
 
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Schedule 16
LIST OF ANY MACHINERY AND EQUIPMENT, MOTOR VEHICLES ANY OTHER
FIXED ASSETS OWNED BY THE SUBSIDIARY
  
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 153




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Schedule 17
DETAILS OF ANY EQUIPMENT OF THE SUBSIDIARY WHICH IS NOT: (A) IN GOOD REPAIR AND CONDITION AND/ OR
(B) IN SATISFACTORY WORKING ORDER AND/OR (C) PROPERLY SERVICED AND MAINTAINED AND/ OR (D) IN
SURPLUS TO REQUIREMENTS OF THE BUSINESS OF THE SUBSIDIARY
  
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##### 



1
    
    I do not have any outstanding Stock options in the Company or the subsidiary of the Company,
which are capable of conversion into any class of shares (including Equity Shares) in the
Company or the subsidiary; and2
    
    I do not have any rights whatsoever, to be issued any class of shares (including Equity
Shares) in the Company or the subsidiary.
 
 
 1
    
    Name of the Bank:2
    
    Address of the Branch:3
    
    Bank Account Number:4
    
    SWIFT Code:
 Thanking you,
Yours sincerely,Name: 
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##### 



Schedule 18B
   
  
  3.
    
    I do not have any outstanding Stock options in the Company or the subsidiary of the Company,
which are capable of conversion into any class of shares (including Equity Shares) in the
Company or the subsidiary; and
 4.
    
    I do not have any rights whatsoever, to be issued any class of shares (including Equity
Shares) in the Company or the subsidiary.
 
 5.
    
    Name of the Bank:6.
    
    Address of the Branch:7.
    
    Bank Account Number:8.
    
    SWIFT Code:
 Thanking you,
Yours sincerely,Name: 
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Schedule 19
 POWER OF ATTORNEY BY THE SELLING SHAREHOLDERS IN FAVOUR OF THE PURCHASER TO VOTE ON SECOND TRANCHE
SHARES AS PER DIRECTION OF THE PURCHASER
 IRREVOCABLE POWER OF ATTORNEY
 TO ALL TO WHOM THESE PRESENTS SHALL COME
 Company Grantors Grantor
  A.
    
    The Grantors are selling their shares in the Company to WNS (Mauritius) Limited, a company
organized under the laws of the Republic of Mauritius, and having its registered office at 10,
Frere Felix de Valois Street, Port Louis, Mauritius (hereinafter referred to as the
Purchaser) (such purchase of shares of the Company is hereinafter referred to as the
Transaction), for which purpose it is proposed that the Purchaser, the company and the
shareholders of the Company enter into a Share Purchase Agreement (the Share Purchase
Agreement).
 B.
    
    The Grantors further recognize that under Clause 3.5 C (iv) of the Share Purchase Agreement,
each of the Grantors are required execute a power of attorney authorizing the Purchaser to
exercise voting rights in respect of shares held by the Grantors.
 C.
    
    In this regard, the Grantors, represented by Mr. Ramakrishnan, their duly authorised agent
and attorney-infact, execute in favour of the Purchaser as Attorney, this irrevocable and
unconditional (subject to the provisions of Clause 3 of this Power of Attorney) power of
attorney authorising and empowering the Attorney to be the Grantors true and lawful attorney
for and on their behalf and in their name to do and execute, perform all and every of the
following acts, deeds, matters and things relevant or necessary in respect of the shares held
by the Grantors;
  1
    
    Grant of Irrevocable Proxy:Each Grantor hereby appoints (subject to the provisions
of Clause 3 of this Power of Attorney) the Purchaser and any designee of the Purchaser, and
each of them individually, as such Grantors proxy and attorney-in-fact, with full power of
substitution and re-substitution, to vote or act by written consent, in respect of the shares
held by the Grantors, in any manner as such Purchaser may deem fit, during the term of the
Share Purchase Agreement. The Grantors shall promptly cause a copy of this Irrevocable Power
of Attorney to be deposited with the Company at its principal place of business and cause the
Company to record, acknowledge and accept the terms and conditions hereof. Each Grantor shall
(subject to the provisions of Clause 3 of this Power of Attorney) take such further action or
execute such other instruments as may be necessary to effectuate the intent of this proxy.
 2
    
    Nature of Irrevocable Proxy: The proxy and power of attorney granted pursuant to
paragraph 1 above by each Grantor shall (subject to the provisions of Clause 3 of this Power
of Attorney) be irrevocable during the term of the Share Purchase Agreement and shall be
deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and
shall revoke any and all prior proxies granted by such Grantor. The power of attorney granted
by each Grantor herein is a durable power of attorney and shall survive (subject to the
provisions of Clause 3 of this Power of Attorney) the dissolution, bankruptcy, death or
incapacity of such Grantor. The Grantors further authorize the Purchaser (subject to the
provisions of Clause 3 of this Power of Attorney) to do execute and perform all or any of the
following acts, deeds, matters and things:
 (i)
    
    to sign, seal, deliver, swear, execute any document required to be executed by
the Grantors pursuant to the terms and conditions of this Irrevocable Power of
Attorney;
 157




---



##### 



(ii)
    
    to take such action on behalf of the Grantors as may be required to be taken by
the Purchaser in the capacity of a Shareholder of the Company;(iii)
    
    For more effectually doing, effecting, and performing the several matters and
things aforesaid;(iv)
    
    To appoint from time to time such person or persons as the Attorney may think
fit as their substitute or substitutes to do execute and perform all or any such
matters and things as aforesaid and any such substitute or substitutes at pleasure to
remove and to appoint another or others in their place and the Grantors hereby agree at
all times to ratify and confirm whatsoever the Attorney or any such substitute or
substitutes shall lawfully do or cause or to be done.
 3
    
    The Grantors undertake to ratify (subject to the provisions of Clause 3 of this Power of
Attorney) all future acts done by the Attorney.
 4
    
    The Grantors shall not (subject to the provisions of Clause 3 of this Power of Attorney)
revoke the authorization granted to the Attorney under this letter till such time that any of
the Share Purchase Agreement is in force and effect.
 3.
    
    Rights of Revocation: Notwithstanding anything to the contrary contained herein, I
may unilaterally revoke this Power of Attorney upon the earlier of:
 1
    
    the termination of the Share Purchase Agreement; and2
    
    the title to the Second Tranche Shares (as defined in the Share Purchase
Agreement) is transferred to the Purchaser in accordance with the provisions of the
Share Purchase Agreement; and3
    
    the title to the First Tranche Shares (as defined in the Share Purchase
Agreement) is transferred back to the Grantors by the Purchaser in accordance with the
provisions of the Share Purchase Agreement.
   
 Mr. Ramakriashnan     
 The remainder of this page has intentionally been left blank
 158




---



##### 



Schedule 20
LIST OF SELLING SHAREHOLDERS WHO HAVE EXECUTED POWER OF ATTORNEY IN
FAVOUR OF MR. S. RAMAKRISHNAN IN RELATION TO THE NEGOTIATION AND EXECUTION
OF THIS AGREEMENT
 KEY EMPLOYEES:
 1
    
    Krishnaraj Venkatraman2
    
    Anuradha Sharma3
    
    Amitabh Bose4
    
    Parthasarathy Vallabhajosyula5
    
    Sanjit Bhoumik6
    
    Rajesh Kumar Bhat7
    
    Vijay Jumani8
    
    Rajeev Sinha9
    
    Rajesh Apkari10
    
    Sanjay Dattatri
 OTHER EMPLOYEES:
 1
    
    Abhishek Ranjan Jha2
    
    Ajay3
    
    Aju Abraham4
    
    Annie Thomas5
    
    Arjun Madhavan6
    
    Arpan Gupta7
    
    Ashish Kumar8
    
    Ashish Mahajan9
    
    Bhargavi10
    
    Charles11
    
    Dechen12
    
    Dibyojyoti Haldar13
    
    Dipayan Chakraborty14
    
    Doyel15
    
    Durga Prasad16
    
    Eronesu Kar17
    
    G K Suresu Kumar18
    
    G.Vijaya19
    
    Gaurav Gupta20
    
    Gautam Munshi21
    
    Giridhar22
    
    GKR Krishnan23
    
    Hemalatha Dave24
    
    Kakul25
    
    Kamal Mishra26
    
    Krishnan Seshadri27
    
    Malavika28
    
    Malini29
    
    Manik Bhandari30
    
    Manoranjan31
    
    Milind Kelkar32
    
    Muralidhar Sundar33
    
    Neerav Naik34
    
    Nethravathy35
    
    Nidhi Gupta36
    
    Nikhil Deshpande37
    
    Nikunj38
    
    Pavan Bhat39
    
    Pradeep
 159




---



##### 



40
    
    Praveen Hullur41
    
    Praveen Singh42
    
    Pravin Nampoothiri43
    
    Pritha Choudhuri44
    
    Puneet Gulati45
    
    R.Sowmya46
    
    Rajneesh Khosla47
    
    Rakesh Pande48
    
    Reddy49
    
    Ruchi Kapoor50
    
    S. Deepak Kumar51
    
    Sameer52
    
    Santosh Ramji53
    
    Saurabh Chopra54
    
    Shila Cyriac55
    
    Shravan56
    
    Sindhu Lekha57
    
    Siva Kumar H58
    
    Sneha Thakkar59
    
    Sooraj60
    
    Stephen Samuel61
    
    Stuti Dhandhania62
    
    Suchitra63
    
    Sudershan64
    
    Suresh Babu Perumal65
    
    Tarun Kumar Mukherjee66
    
    V. Makesh67
    
    Varun Mohanpuria68
    
    VC.Radha69
    
    Vikas Verma70
    
    Vinay CR71
    
    Vinitha Unni72
    
    Vinoth Babu
 OTHER SHAREHOLDERS
 1
    
    Glen M Springer2
    
    Infernotions Corporation3
    
    MS Krishnan
 
 The remainder of this page has intentionally been left blank
 160




---



##### 



Schedule 21
  Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)FOUNDERS:****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************S. Ramakrishnan
    

****************************************
****************************************
****************************************
    
    
    76,799
    
    
    
    477,826****************************************
****************************************
****************************************
****************************************
****************************************Vinay Mishra
    

****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    76,774
    
    
    
    477,671
 161




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************Shankar Maruwada
    

****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    76,777
    
    
    
    477,687KEY EMPLOYEES:****************************************
****************************************
****************************************
****************************************
****************************************Krishnaraj Venkatraman
    

****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    18,419
    
    
    
    114,596****************************************
****************************************
****************************************
****************************************
****************************************Anuradha Sharma
    
    ****************************************
    
    
    3,735
    
    
    
    23,238
 162




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Amitabh Bose
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    3,735
    
    
    
    23,238****************************************
****************************************
****************************************
****************************************
****************************************Parthasarathy Vallabhajosyula
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    591
    
    
    
    3,679Sanjit Bhoumik
    
    ****************************************
****************************************
    
    
    1,245
    
    
    
    7,746
 163




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Rajesh Kumar Bhat
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    7,470
    
    
    
    46,477****************************************
****************************************
****************************************
****************************************
****************************************Vijay Jumani
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    2,117
    
    
    
    13,168Rajeev Sinha
    
    ****************************************
****************************************
    
    
    249
    
    
    
    1,549
 164




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Rajesh Apkari
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Sanjay Dattatri
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    3,735
    
    
    
    23,238OTHER EMPLOYEES:Abhishek Ranjan Jha
    
    ****************************************
****************************************
    
    
    62
    
    
    
    387
 165




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Ajay
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Aju Abraham
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    62
    
    
    
    387Annie Thomas
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549
 166




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Arjun Madhavan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    125
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Arpan Gupta
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    498
    
    
    
    3,098Ashish Kumar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775
 167




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Ashish Mahajan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Bhargavi
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    62
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Charles
    
    ****************************************
****************************************
    
    

    249
    
    
    
    1,549
 168




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Dechen
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    63
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Dibyojyoti Haldar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Dipayan Chakraborty
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    996
    
    
    
    6,197
 169




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************Doyel
    
    ****************************************
****************************************
****************************************
****************************************
    
    

    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Durga Prasad
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Eronesu Kar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    124
    
    
    
    775G K Suresu Kumar
    
    ****************************************
****************************************
    
    
    249
    
    
    
    1,549
 170




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************G. Vijaya
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    

    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Gaurav Gupta
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549Gautam Munshi
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    623
    
    
    
    3,873
 171




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Giridhar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    373
    
    
    
    2,324****************************************
****************************************
****************************************
****************************************
****************************************GKR Krishnan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    747
    
    
    
    4,648****************************************
****************************************
****************************************
****************************************
****************************************Hemalatha Dave
    
    ****************************************
    
    
    63
    
    
    
    387
 172




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Kakul
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Kamal Mishra
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    373
    
    
    
    2,324****************************************
****************************************
****************************************
****************************************
****************************************Krishnan Seshadri
    
    ****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549
 173




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Malavika
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    63
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Malini
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387Manik Bhandari
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549Manoranjan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775
 174




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Milind Kelkar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    1,307
    
    
    
    8,133****************************************
****************************************
****************************************
****************************************
****************************************Muralidhar Sundar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Neerav Naik
    
    ****************************************
    
    
    249
    
    
    
    1,549
 175




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Nethravathy
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Nidhi Gupta
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Nikhil Deshpande
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387
 176




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************Nikunj
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Pavan Bhat
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Pradeep
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387Praveen Hullur
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775
 177




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Praveen Singh
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Pravin Nampoothiri
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775Pritha Choudhuri
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549
 178




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Puneet Gulati
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************R.Sowmya
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Rajneesh Khosla
    

****************************************
****************************************
    
    
    747
    
    
    
    4,648
 179




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Rakesh Pande
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Reddy
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    63
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Ruchi Kapoor
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    467
    
    
    
    2,905
 180




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************S. Deepak Kumar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Sameer
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    498
    
    
    
    3,098****************************************
****************************************
****************************************
****************************************
****************************************Santosh Ramji
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549Saurabh Chopra
    
    ****************************************
    
    
    498
    
    
    
    3,098
 181




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Shila Cyriac
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549****************************************
****************************************
****************************************
****************************************
****************************************Shravan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775Sindhu Lekha
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    63
    
    
    
    387
 182




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Siva Kumar H
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    63
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Sneha Thakkar
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775Sooraj
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    63
    
    
    
    387
 183




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Stephen Samuel
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    747
    
    
    
    4,648****************************************
****************************************
****************************************
****************************************
****************************************Stuti Dhandhania
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387****************************************
****************************************
****************************************
****************************************
****************************************Suchitra
    
    ****************************************
****************************************
    
    
    249
    
    
    
    1,549
 184




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Sudershan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************Suresh Babu Perumal
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    187
    
    
    
    1,162****************************************
****************************************
****************************************
****************************************
****************************************Tarun Kumar Mukherjee
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387
 185




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************V. Makesh
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    349
    
    
    
    2,169****************************************
****************************************
****************************************
****************************************
****************************************Varun Mohanpuria
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    124
    
    
    
    775****************************************
****************************************
****************************************
****************************************
****************************************VC. Radha
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775Vikas Verma
    
    ****************************************
****************************************
****************************************
    
    
    249
    
    
    
    1,549
 186




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************Vinay CR
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    498
    
    
    
    3,098****************************************
****************************************
****************************************
****************************************
****************************************Vinitha Unni
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    125
    
    
    
    775Vinoth Babu
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    62
    
    
    
    387
 187




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)****************************************
****************************************
****************************************
****************************************
****************************************OTHER SHAREHOLDERS****************************************
****************************************
****************************************
****************************************
****************************************Tawny Dove Ltd.
    
    ****************************************
****************************************
****************************************
****************************************
    
    
    45,027
    
    
    
    280,145K. Ganesh
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    14,168
    
    
    
    88,152
 188




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)Spark Capital Advisors
(India) Pvt Ltd.
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
********************************************************************************
****************************************
****************************************
****************************************
****************************************
    
    
    20,169
    
    
    
    125,487
 189




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)Raji Raju
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    17,796
    
    
    
    110,723Glen M Springer
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    9,639
    
    
    
    59,970****************************************
****************************************
****************************************
****************************************Infernotions
Corporation
    
    ****************************************
    
    
    5,147
    
    
    
    32,022
 190




---



##### 



Second TrancheSECOND
    
    EscrowTRANCHE
    
    Consideration (InName
    
    Bank Account Details
    
    SHARES
    
    USD)MS Krishnan
    
    ****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
****************************************
    
    
    2,119
    
    
    
    13,184GRAND TOTAL
    
    
    
    
    402,897
    
    
    
    2,506,731
 The remainder of this page has intentionally been left blank
 191




---



##### 



Schedule 22
 SECOND
    
    Proportion of EarnoutTRANCHE
    
    Consideration Payable To EachName
    
    SHARES
    
    Of the Selling ShareholderFOUNDERS:S. Ramakrishnan
    
    
    76,799
    
    
    
    19.06
    %Vinay Mishra
    
    
    76,774
    
    
    
    19.06
    %Shankar Maruwada
    
    
    76,777
    
    
    
    19.06
    %KEY EMPLOYEES:Krishnaraj Venkatraman
    
    
    18,419
    
    
    
    4.57
    %Anuradha Sharma
    
    
    3,735
    
    
    
    0.93
    %Amitabh Bose
    
    
    3,735
    
    
    
    0.93
    %Parthasarathy Vallabhajosyula
    
    
    591
    
    
    
    0.15
    %Sanjit Bhoumik
    
    
    1,245
    
    
    
    0.31
    %Rajesh Kumar Bhat
    
    
    7,470
    
    
    
    1.85
    %Vijay Jumani
    
    
    2,117
    
    
    
    0.53
    %Rajeev Sinha
    
    
    249
    
    
    
    0.06
    %Rajesh Apkari
    
    
    249
    
    
    
    0.06
    %Sanjay Dattatri
    
    
    3,735
    
    
    
    0.93
    %OTHER EMPLOYEES:Abhishek Ranjan Jha
    
    
    62
    
    
    
    0.02
    %Ajay
    
    
    124
    
    
    
    0.03
    %Aju Abraham
    
    
    62
    
    
    
    0.02
    %Annie Thomas
    
    
    249
    
    
    
    0.06
    %Arjun Madhavan
    
    
    125
    
    
    
    0.03
    %Arpan Gupta
    
    
    498
    
    
    
    0.12
    %Ashish Kumar
    
    
    124
    
    
    
    0.03
    %Ashish Mahajan
    
    
    124
    
    
    
    0.03
    %Bhargavi
    
    
    62
    
    
    
    0.02
    %Charles
    
    
    249
    
    
    
    0.06
    %Dechen
    
    
    63
    
    
    
    0.02
    %Dibyojyoti Haldar
    
    
    249
    
    
    
    0.06
    %Dipayan Chakraborty
    
    
    996
    
    
    
    0.25
    %Doyel
    
    
    124
    
    
    
    0.03
    %Durga Prasad
    
    
    249
    
    
    
    0.06
    %Eronesu Kar
    
    
    124
    
    
    
    0.03
    %G K Suresu Kumar
    
    
    249
    
    
    
    0.06
    %G.Vijaya
    
    
    124
    
    
    
    0.03
    %Gaurav Gupta
    
    
    249
    
    
    
    0.06
    %Gautam Munshi
    
    
    623
    
    
    
    0.15
    %Giridhar
    
    
    373
    
    
    
    0.09
    %GKR Krishnan
    
    
    747
    
    
    
    0.19
    %Hemalatha Dave
    
    
    63
    
    
    
    0.02
    %Kakul
    
    
    124
    
    
    
    0.03
    %Kamal Mishra
    
    
    373
    
    
    
    0.09
    %Krishnan Seshadri
    
    
    249
    
    
    
    0.06
    %Malavika
    
    
    63
    
    
    
    0.02
    %Malini
    
    
    62
    
    
    
    0.02
    %Manik Bhandari
    
    
    249
    
    
    
    0.06
    %
 1




---



##### 



SECOND
    
    Proportion of EarnoutTRANCHE
    
    Consideration Payable To EachName
    
    SHARES
    
    Of the Selling ShareholderManoranjan
    
    
    124
    
    
    
    0.03
    %Milind Kelkar
    
    
    1,307
    
    
    
    0.32
    %Muralidhar Sundar
    
    
    124
    
    
    
    0.03
    %Neerav Naik
    
    
    249
    
    
    
    0.06
    %Nethravathy
    
    
    62
    
    
    
    0.02
    %Nidhi Gupta
    
    
    124
    
    
    
    0.03
    %Nikhil Deshpande
    
    
    62
    
    
    
    0.02
    %Nikunj
    
    
    125
    
    
    
    0.03
    %Pavan Bhat
    
    
    124
    
    
    
    0.03
    %Pradeep
    
    
    62
    
    
    
    0.02
    %Praveen Hullur
    
    
    124
    
    
    
    0.03
    %Praveen Singh
    
    
    125
    
    
    
    0.03
    %Pravin Nampoothiri
    
    
    125
    
    
    
    0.03
    %Pritha Choudhuri
    
    
    249
    
    
    
    0.06
    %Puneet Gulati
    
    
    124
    
    
    
    0.03
    %R.Sowmya
    
    
    125
    
    
    
    0.03
    %Rajneesh Khosla
    
    
    747
    
    
    
    0.19
    %Rakesh Pande
    
    
    249
    
    
    
    0.06
    %Reddy
    
    
    63
    
    
    
    0.02
    %Ruchi Kapoor
    
    
    467
    
    
    
    0.12
    %S. Deepak Kumar
    
    
    249
    
    
    
    0.06
    %Sameer
    
    
    498
    
    
    
    0.12
    %Santosh Ramji
    
    
    249
    
    
    
    0.06
    %Saurabh Chopra
    
    
    498
    
    
    
    0.12
    %Shila Cyriac
    
    
    249
    
    
    
    0.06
    %Shravan
    
    
    124
    
    
    
    0.03
    %Sindhu Lekha
    
    
    63
    
    
    
    0.02
    %Siva Kumar H
    
    
    63
    
    
    
    0.02
    %Sneha Thakkar
    
    
    124
    
    
    
    0.03
    %Sooraj
    
    
    63
    
    
    
    0.02
    %Stephen Samuel
    
    
    747
    
    
    
    0.19
    %Stuti Dhandhania
    
    
    62
    
    
    
    0.02
    %Suchitra
    
    
    249
    
    
    
    0.06
    %Sudershan
    
    
    125
    
    
    
    0.03
    %Suresh Babu Perumal
    
    
    187
    
    
    
    0.05
    %Tarun Kumar Mukherjee
    
    
    62
    
    
    
    0.02
    %V. Makesh
    
    
    349
    
    
    
    0.09
    %Varun Mohanpuria
    
    
    124
    
    
    
    0.03
    %VC.Radha
    
    
    125
    
    
    
    0.03
    %Vikas Verma
    
    
    249
    
    
    
    0.06
    %Vinay CR
    
    
    498
    
    
    
    0.12
    %Vinitha Unni
    
    
    125
    
    
    
    0.03
    %Vinoth Babu
    
    
    62
    
    
    
    0.02
    %OTHER SHAREHOLDERSTawny Dove Ltd.
    
    
    45,027
    
    
    
    11.18
    %K. Ganesh
    
    
    14,168
    
    
    
    3.52
    %Spark Capital Advisors (India) Pvt Ltd.
    
    
    20,169
    
    
    
    5.01
    %Raji Raju
    
    
    17,796
    
    
    
    4.42
    %Glen M Springer
    
    
    9,639
    
    
    
    2.39
    %
 2




---



##### 



SECOND
    
    Proportion of EarnoutTRANCHE
    
    Consideration Payable To EachName
    
    SHARES
    
    Of the Selling ShareholderInfernotions Corporation
    
    
    5,147
    
    
    
    1.28
    %MS Krishnan
    
    
    2,119
    
    
    
    0.53
    %GRAND TOTAL
    
    
    402,897
    
    
    
    100.00
    %
 
 The
remainder of this page has intentionally been left blank
 3




---



##### 



Schedule 23
 LIST OF POWER OF ATTONEYS EXECUTED IN FAVOUR OF S.  RAMAKRISHNAN
 Krishnaraj Venkataraman
    
    Vide Power of Attorney dated April 13, 2007Anuradha Sharma
    
    Vide Power of Attorney dated April 13, 2007Amitabh Bose
    
    Vide Power of Attorney dated n April 13, 2007Parthasarathy Vallabhajosyula
    
    Vide Power of Attorney dated April 8, 2007Sanjit Bhoumick
    
    Vide Power of Attorney dated April 13, 2007Rajesh Kumar Bhatt
    
    Vide Power of Attorney dated April 13, 2007Vijay Jumani
    
    Vide Power of Attorney dated April 13, 2007Rajeev Sinha
    
    Vide Power of Attorney dated April 13, 2007Rajesh Apkari
    
    Vide Power of Attorney dated April 13, 2007Sanjay Dattatri
    
    Vide Power of Attorney dated April 13, 2007Abhishek Ranjan Jha
    
    Vide Power of Attorney dated April 13, 2007Ajay Gopikrishnan
    
    Vide Power of Attorney dated April 13, 2007Aju Abraham
    
    Vide Power of Attorney dated April 13, 2007Annie Thomas
    
    Vide Power of Attorney dated April 13, 2007Arjun Madhavan
    
    Vide Power of Attorney dated April 13, 2007Arpan Gupta
    
    Vide Power of Attorney dated April 13, 2007Ashish Kumar
    
    Vide Power of Attorney dated April 17, 2007Ashish Mahajan
    
    Vide Power of Attorney dated April 13, 2007Bhargavi Narasapuram
    
    Vide Power of Attorney dated April 13, 2007Abel Charles M K Amos
    
    Vide Power of Attorney dated April 14, 2007Dechen Dorjee
    
    Vide Power of Attorney dated April 13, 2007Dibyojyoti Haldar
    
    Vide Power of Attorney dated April 13, 2007Dipayan Chakraborty
    
    Vide Power of Attorney dated April 13, 2007Doyel Kar
    
    Vide Power of Attorney dated April 13, 2007Durga Prasad
    
    Vide Power of Attorney dated April 13, 2007Eronesu Kar
    
    Vide Power of Attorney dated April 20, 2007G K Suresu Kumar
    
    Vide Power of Attorney dated April 13, 2007G.Vijaya
    
    Vide Power of Attorney dated April 13, 2007Gaurav Gupta
    
    Vide Power of Attorney dated April 16, 2007Gautam Munshi
    
    Vide Power of Attorney dated April 16, 2007R Giridhar
    
    Vide Power of Attorney dated April 13, 2007GKR Krishnan
    
    Vide Power of Attorney dated April 13, 2007Hemalatha Dave
    
    Vide Power of Attorney dated April 13, 2007Kakul Paul
    
    Vide Power of Attorney dated April 13, 2007Kamal Narayan Mishra
    
    Vide Power of Attorney dated April 13, 2007Krishnan Seshadri
    
    Vide Power of Attorney dated April 13, 2007Malavika V
    
    Vide Power of Attorney dated April 13, 2007T Malini
    
    Vide Power of Attorney dated April 13, 2007Manik Bhandari
    
    Vide Power of Attorney dated April 11, 2007Manoranjan Pappanayak
    
    Vide Power of Attorney dated April 13, 2007Milind Kelkar
    
    Vide Power of Attorney dated April 16, 2007
 1




---



##### 



Muralidhar Sundar
    
    Vide Power of Attorney dated April 13, 2007Neerav Naik
    
    Vide Power of Attorney dated April 13, 2007Nethravathy S
    
    Vide Power of Attorney dated April 13, 2007Nidhi Gupta
    
    Vide Power of Attorney dated April 13, 2007Nikhil Deshpande
    
    Vide Power of Attorney dated April 13, 2007Nikunj Vohra
    
    Vide Power of Attorney dated April 13, 2007Pavan Bhat
    
    Vide Power of Attorney dated April 13, 2007Pradeep J.P
    
    Vide Power of Attorney dated April 13, 2007Praveen Hullur
    
    Vide Power of Attorney dated April 14, 2007Praveen Singh
    
    Vide Power of Attorney dated April 13, 2007Pravin Nampoothiri
    
    Vide Power of Attorney dated April 16, 2007Pritha Choudhuri
    
    Vide Power of Attorney dated April 13, 2007Puneet Gulati
    
    Vide Power of Attorney dated April 13, 2007R.Sowmya
    
    Vide Power of Attorney dated April 14, 2007Rajneesh Khosla
    
    Vide Power of Attorney dated April 13, 2007Rakesh Pande
    
    Vide Power of Attorney dated April 13, 2007V K Venkataswamy Reddy
    
    Vide Power of Attorney dated April 13, 2007Ruchi Kapoor
    
    Vide Power of Attorney dated April 16, 2007S Deepak Kumar
    
    Vide Power of Attorney dated April 13, 2007Sameer Mulabagal
    
    Vide Power of Attorney dated April 13, 2007Santosh Ramji
    
    Vide Power of Attorney dated April 13, 2007Saurabh Chopra
    
    Vide Power of Attorney dated April 13, 2007Shila Cyriac
    
    Vide Power of Attorney dated April 13, 2007Shravan Pai
    
    Vide Power of Attorney dated April 13, 2007Sindhu Lekha S
    
    Vide Power of Attorney dated April 13, 2007Shivakumar Hanjagimath
    
    Vide Power of Attorney dated April 13, 2007Sneha Thakkar
    
    Vide Power of Attorney dated April 13, 2007Sooraj M S
    
    Vide Power of Attorney dated April 13, 2007Stephen Samuel
    
    Vide Power of Attorney dated April 13, 2007Stuti Dhandhania
    
    Vide Power of Attorney dated April 14, 2007Suchitra Kolluru
    
    Vide Power of Attorney dated April 13, 2007Sudarshan Gangrade
    
    Vide Power of Attorney dated April 13, 2007Suresh Babu Perumal
    
    Vide Power of Attorney dated April 13, 2007Tarun Kumar Mukherjee
    
    Vide Power of Attorney dated April 14, 2007V. Makesh
    
    Vide Power of Attorney dated April 13, 2007Varun Mohanpuria
    
    Vide Power of Attorney dated April 13, 2007VC.Radha
    
    Vide Power of Attorney dated April 13, 2007Vikas Verma
    
    Vide Power of Attorney dated April 13, 2007Vinay CR
    
    Vide Power of Attorney dated April 11, 2007Vinitha Unni
    
    Vide Power of Attorney dated April 16, 2007Vinoth Babu
    
    Vide Power of Attorney dated April 16, 2007Glen Springer
    
    Vide Power of Attorney dated April 11, 2007Infernotions Corporation
    
    Vide Power of Attorney dated April 9, 2007MS Krishnan
    
    Vide Power of Attorney dated April 10, 2007
 2




---



##### 



Schedule 24
 Sl.Nos.
    
    Name
    

Fathers name
    
    Age
    
    
    Present residential address
    
    Nationality94,Rama KrishnappaRoad, Cox Town,1
    
    Abhishek Ranjan Jha
    
    B.K. Jha
    
    
    24
    
    
    Bangalore 560005.
    
    IndianB1, ManikantaResidency, Vignana2
    
    Dibyojyoti Haldar
    
    A K Haldar
    
    
    26
    
    
    Nagar, Blore75
    
    Indian1-4B, Alps Estate,460/1 Sarjapur Road,Kaikondanahalli,3
    
    Rajesh Apkari
    
    A Nagarajan Rao
    
    
    36
    
    
    Bangalore  560035
    
    Indian#49, OldThippsandara, Indira4
    
    Manoranjan Pattanayak
    
    Akshaya Kumar Pattanayak
    
    
    31
    
    
    nagar, Bangalore38
    
    IndianFlat No. G1/A,Priyanka Paradise, 1stCross, Kaggadasapura,C.V. Raman Nagar,5
    
    Muralidhar Sundar
    
    Alagarsamy
    
    
    32
    
    
    Bangalore  560 093.
    
    Indian1020/C 17th D cross,2nd Stage,Indiranagar, Bangalore6
    
    Doyel Kar
    
    Amal Kar
    
    
    30
    
    
    38
    
    IndianFlat C-402 SpartanHeights Building ,16/17 Richmond Road,7
    
    Gautam Munshi
    
    Ashish Munshi
    
    
    30
    
    
    Bangalore 560025
    
    Indian204, MaitreeAppartment, AshianaRoad, Patna, Bihar 8
    
    Ashish Kumar
    
    Ashok Kumar Gupta
    
    
    31
    
    
    25
    
    IndianDoor No. C1, KarthikKoushalyaApartments,Malleshpalya, 5thMain, 4th Cross,9
    
    Eronesu Kar
    
    Asish Kar
    
    
    29
    
    
    Bangalore560075
    
    Indian#1083, MahalakshmiNilaya, Vijanapura,Dooravaninagar post,10
    
    VC.Radha
    
    B.V. Govindaraju
    
    
    30
    
    
    Bangalore  560 016
    
    Indian#24,1st Floor,GaneshaNilaya, 1st Cross,Dinnur,R.T.Nagar11
    
    Hemalatha Dave
    
    Babulal Dave
    
    
    26
    
    
    560032
    
    Indian#1006, 2nd cross, 13thmain, HAL Stage-2,Indiranagar,12
    
    Santosh Ramji
    
    Cheekatla Suryanarayana
    
    
    30
    
    
    Bangalore 560038
    
    Indian408, A4, Ganga Block,13
    
    Nikunj
    
    Col Niraj Vohra
    
    
    25
    
    
    NGV
    
    Indian# 70, 3rd Cross, Near14
    
    Dechen
    
    NIM Dorjee Bhutia
    
    
    26
    
    
    Kaveri Nursing Home,
    
    Indian
 3




---



##### 



Sl.Nos.
    
    Name
    

Fathers name
    
    Age
    
    
    Present residential address
    
    NationalityMadiwala, Blore  68#303, SaptgiriDr. Narendra
    
    
    
    
    
    Mension, 16D Main,Kumar
    
    
    
    
    
    HAL II, Indiranagar,15
    
    Varun Mohanpuria
    
    Mohanpuria
    
    
    26
    
    
    Bangalore
    
    Indian102/B, 1st Cross, 18thMain, 6th Block,Koramangla,16
    
    Nidhi Gupta
    
    Dr. Surendra Kumar Jain
    
    
    27
    
    
    Bangalore
    
    Indian622 B, VI Main, IIIPhase, BDA HousingColony, Domlur IIStage, Bangalore 17
    
    Vinoth Babu
    
    Elakkumanan P
    
    
    25
    
    
    560071
    
    IndianFlat GC, GoldenDaffodills, 13th MainI cross Kodihalli18
    
    Rakesh Pande
    
    G.C. Pande
    
    
    28
    
    
    Bangalore08
    
    IndianNo 5, 9th Main, 15thCross, Lakkasandra,19
    
    G K Suresu Kumar
    
    G.GUNASEK ARAN
    
    
    29
    
    
    Bangalore  560030.
    
    Indian603, Flat C, SwathiApartments, 29thCross Street, IndiraNagar, Chennai20
    
    Sanjay Dattatri
    
    Gangadhar Rao Dattatri
    
    
    38
    
    
    600020
    
    Indian#185, Ground floor,5th main,KEB Layout, BTM 1stStage,21
    
    Praveen Hullur
    
    Ghatigeppa M  Hullur
    
    
    26
    
    
    Bangalore75
    
    Indian# 37, SUMEGHA11th Cross PrashanthNagar Bangalore 22
    
    Pavan Bhat
    
    Ishwar Bhat
    
    
    30
    
    
    560079
    
    IndianG-007, GoldenResidency, SarjapurOuter ring road,Bellandhur, Bangalore23
    
    Vinitha Unni
    
    K.V. Unni
    
    
    27
    
    
     37
    
    IndianFlat No.T - 405, PurvaPark, MSOColony, CoxTown, Bangalore 24
    
    Rajneesh Khosla
    
    Late I.B.Khosla
    
    
    34
    
    
    56005
    
    Indian2586, 17th Main, 2ndCross, HAL 2ndStage, Indiranagar,25
    
    Neerav Naik
    
    Late Mr. Rajendra Naik
    
    
    28
    
    
    PIN-560008
    
    Indian101, MCMRMANSION, 3RDMAIN, 2ND CROSS,NEWTHIPPASANDRA,26
    
    Sameer Mulbagal
    
    M. K. MULBAGAL
    
    
    34
    
    
    BANGALORE
    
    INDIAN
 4




---



##### 



Sl.Nos.
    
    Name
    

Fathers name
    
    Age
    
    
    Present residential address
    
    Nationality560075#9, Shree Gokulam,5th Cross AbhiyahReddy Layout,Kagadaspura,27
    
    Aju Abraham
    
    M.V. Abraham
    
    
    29
    
    
    Bangalore  73
    
    Indian#233/A, 5th cross, 2ndMain, NewThippasandra,28
    
    Sindhu Lekha S
    
    M.Velayudhan Pillai
    
    
    32
    
    
    Bangalore  560075
    
    Indian402 PrudentialMaruthi Apartments2nd Cross WindTunnel RoadMurugeshpalaya29
    
    Dipayan Chakraborty
    
    N G Chakraborty
    
    
    26
    
    
    Bangalore
    
    Indian30
    
    Giridhar
    
    N Ramachandran
    
    
    32
    
    
    Will snd you later
    
    Indian#1227/68, 1st MainRoad, M.CLayout, Vijayanagar,31
    
    Bhargavi
    
    N. MohanReddy
    
    
    25
    
    
    Banagalore560079.
    
    IndianNo. 713,Manimandiram, 5thMain, 3rd block, BELLayout,Vidyaranyapura,32
    
    Sooraj
    
    P. Sukumaran Nair
    
    
    28
    
    
    Bangalore560097
    
    IndianS 202, HMTambourine,Jaraganahlli Post,Kanakpura Road J.PNagar 6th Phase33
    
    Pradeep
    
    Parvathappa Gowda J.M
    
    
    30
    
    
    Bangalore  560078
    
    Indian19, 1st cross, kumaragarden, vijayanagar,34
    
    Suresh Babu Perumal
    
    PERUMAL
    
    
    31
    
    
    bangalore 560040
    
    Indian101 Onyx Apartments,Kodihalli 1st Main35
    
    Charles
    
    Peter Amos
    
    
    27
    
    
    Blore 8
    
    IndianT.malini,d/o t.prathapreddy, vengalammacheruvu, (via)Bukkapattam, anathapur(dist), Anadhar36
    
    Malini
    
    Prathap Reddy
    
    
    26
    
    
    pradesh.
    
    Indian2606, 18th Main, 3rdCross, HAL 2ndStage, Indira Nagar,37
    
    Gaurav Gupta
    
    R. K. Gupta
    
    
    29
    
    
    Bangalore
    
    Indian7/5, Paranjyothi Road,Frazer Town,38
    
    Stuti Dhandhania
    
    Ramakant Dhandhania
    
    
    26
    
    
    Bangalore 5
    
    Indian
 5




---



##### 



Sl.Nos.
    
    Name
    
    Fathers name
    
    Age
    
    
    Present residential address
    
    Nationality1144 W 28th St, # 2,Los Angeles, CA39
    
    Saurabh Chopra
    
    Ranjan Chopra
    
    
    26
    
    
    90007, United States
    
    Indian102-B, 1st Cross, 18thMain, 6th Block,Koramangala,40
    
    Arpan Gupta
    
    Ravi Kant Gupta
    
    
    26
    
    
    Bangalore 560095
    
    Indian# 51/A, 10th Cross,Govindappa Lane,41
    
    V. Makesh
    
    S Venkataramanan
    
    
    29
    
    
    Kodihalli, Bangalore
    
    IndianRaunak, No.589, 4thCross, HMT Layout,Ganganagar,42
    
    Ruchi Kapoor
    
    S.N.Kapoor
    
    
    34
    
    
    Bangalore 560 032
    
    Indian2361; 2nd C cross;15th Main; 100 ftroad; Indira Nagar;43
    
    Durga Prasad
    
    Samba Siva Rao
    
    
    26
    
    
    Bangalore - 560038
    
    Indian424, Yamuna Block;National GamesVillage; Koramangala;44
    
    Sudarshan
    
    Satish Gangrade
    
    
    26
    
    
    Bangalore-47.
    
    Indian192/10, 3rd Cross,New Byappanahalli,45
    
    Krishnan Seshadri
    
    Seshadri
    
    
    30
    
    
    Bangalore 560039
    
    Indian2nd Floor, #1176, 12thB Main, 1st Cross,Indiranagar 100Ft Rd,46
    
    Shravan
    
    Sharad Vaman Pai
    
    
    27
    
    
    Bangalore - 560038
    
    IndianA-203, RajhansAvenue, Near AnantPark, Behind SabariSchool, Vasna Road,Vadodara, Gujarat.47
    
    Pravin Nampoothiri
    
    Shreedharan Nampoothiri
    
    
    36
    
    
    PIN - 390 015
    
    Indian# 57, 4th Main,Domlur 2nd Stage,48
    
    Pritha Choudhuri
    
    Sourindra Choudhuri
    
    
    29
    
    
    Bangalore
    
    IndianC/O G.Ramareddy,No. 365, GovindaSri Bikash
    
    
    
    
    
    Shetty playa, HosurChandra
    
    
    
    
    
    main Road, Electronic49
    
    Tarun Kumar Mukherjee
    
    Mukherjee
    
    
    32
    
    
    City, Bangalore-100
    
    Indian#362, F F Colony,Laggere, Opp. MountSenoria School,50
    
    S. Deepak Kumar
    
    Sridarshan
    
    
    27
    
    
    Bangalore - 560 058
    
    IndianW/o Prashanth.K. ,#236Samethanahally(vill/Post), Kadugudi-51
    
    Nethravathy
    
    Srinivas
    
    
    26
    
    
    via,Bangalore-560067
    
    IndianFlt # 103, VaishaliResidency, 2nd cross,13th B Main,52
    
    Suchitra
    
    Subbarao M.
    
    
    28
    
    
    Indranagar, HAL 2nd
    
    Indian
 6




---



##### 



Sl.Nos.
    
    Name
    
    Fathers name
    
    Age
    
    
    Present residential address
    
    Nationalitystage, Bangalore304, Victoria IIApartments7th Cross, DomlurLayout53
    
    Sanjit Bhoumik
    
    SUBRATA BHOUMICK
    
    
    33
    
    
    Bangalore 560071
    
    Indian81, 1st floor, 17EMain, Koramangala6th Block, Blore-54
    
    Rajesh Kumar Bhatt
    
    Subray L Bhat
    
    
    33
    
    
    560095
    
    IndianA 301, MantriSplendor, 46/1,Gedalahalli, HennurMain Road, Bangalore55
    
    G.Vijaya
    
    T S Ganesan
    
    
    32
    
    
    77
    
    IndianC 204, Ranka Corner,14 Cambridge Road,Cambridge Layout,56
    
    Shila Cyriac
    
    V I Cyriac
    
    
    39
    
    
    Ulsoor, Bangalore 8
    
    Indian#6, DikshaApartments, 3rd main,3rd cross, DefenceParthasarathy
    
    
    
    
    
    
    
    colony, Indira Nagar,57
    
    Vallabhajosyula
    
    V.K.M. Sarma
    
    
    33
    
    
    Bangalore - 560038
    
    Indian# BC,131, groundfloor, 3rd B cross,Kasture nagara,58
    
    Reddy
    
    V.Krishnappa
    
    
    35
    
    
    Bangalore - 560 043
    
    Indian776, 17th F Main, 6thCross, Kormangala 6thBlock, Bangalore -59
    
    Ashish Mahajan
    
    Vijay L Mahajan
    
    
    27
    
    
    560034
    
    Indian992/1, 1st floor , 11thmain, 1st Block, 3rdStage,Basaveshwarnagar,60
    
    Malavika
    
    Vivekanandan D.
    
    
    29
    
    
    Bangalore 560079
    
    Indian114 Trinity Meadows,Bellandur, Bangalore-61
    
    Vikas Verma
    
    AVM K.C.Varma
    
    
    31
    
    
    560037
    
    IndianB - 503 RankaPlaza,157 WheelerRoad, FrazerTown, Bangalore -62
    
    Vijay Jumani
    
    Jagdish L Jumani
    
    
    32
    
    
    560005
    
    IndianFlat #302, MS RhythmApartments, 18thMain, HAL 2nd Stage,Kodihalli, Bangalore63
    
    Ajay
    
    K UNNIKRISHNAN
    
    
    31
    
    
    560008
    
    Indian102, H Colony, 2ndCross, Indiranagar 1ststage, Bangalore -64
    
    Sneha Thakkar
    
    Vishnuprasad Thakkar
    
    
    26
    
    
    560038
    
    Indian
 7




---



##### 



Sl.Nos.
    
    Name
    
    Fathers name
    
    Age
    
    
    Present residential address
    
    Nationality245, 1st floor, 4thmain, 3rd cross,domlur stage II,65
    
    Amitabh Bose
    
    Samir bose
    
    
    36
    
    
    bangalore 560 071
    
    Indian36, Defence Colony,2nd Main, indira66
    
    Annie Thomas
    
    Raymond Thomas Correia
    
    
    48
    
    
    Nagar, Bangalore-38
    
    IndianRamya RegentApartments, 2ndFloor, Flat no. 3G, IstMain, Ist Stage,Indiranagar, Bangalore67
    
    Anuradha Sharma
    
    Brij Raj Singh
    
    
    37
    
    
    -38
    
    Indian# 47, 1st Cross, 1stMain, Basweshwar68
    
    Nikhil Deshpande
    
    Govind Deshpande
    
    
    27
    
    
    Nagar, Bangalore-17
    
    Indian71, 1st Main, 11thCross, Jagdish Nagar,Near NewThippasandra Post,69
    
    Rajeev Sinha
    
    Late B N Sinha
    
    
    36
    
    
    Bangalore-75
    
    IndianD/oRamachandra.N, Ramachandra Complex, oppGovtSchool, ChannasandraMainRoad, Channasandra,70
    
    R.Sowmya
    
    Ramachandra. N
    
    
    27
    
    
    Bangalore-560067
    
    IndianMilan, P. OMambaram, Kannur71
    
    Arjun Madhavan
    
    Pullambi Madhavan
    
    
    29
    
    
    670741, Kerala
    
    IndianJanani Nilayam, # 28,nd Cross, 3rd Block,Dasappa Layout,Rammurthy Nagar,72
    
    GKR Krishnan
    
    GK Raman
    
    
    27
    
    
    Bangalore - 16# 578, 10th Main, 6thCross, HAL 2ndStage, Indira Nagar -73
    
    Kakul Paul
    
    Col Narinder Paul
    
    
    25
    
    
    560008
    
    Indian1310 Valley Lakedrive, #404,74
    
    Kamal Mishra
    
    Late Laxmi Narayan Mishra
    
    
    28
    
    
    Schaumburg, IL 60195
    
    Indian43 Hume Avenue,#03-03 SymphonyHeights, Singapore75
    
    Manik Bhandari
    
    Hoshiyar Singh Bhandari
    
    
    30
    
    
    598739
    
    IndianFlat No E2, MallarMansion,Kaggadaspura MainRoad, Maruthi Nagar,76
    
    Praveen Singh
    
    L P Singh
    
    
    34
    
    
    Blore-75
    
    Indian404, Vars FantasyApartments, No. 33,77
    
    Puneet Gulati
    
    Sh. Krishan Kumar Gulati
    
    
    26
    
    
    1st Main Kodihalli,
    
    Indian
 8




---



##### 



Sl.Nos.
    
    Name
    

Fathers name
    
    Age
    
    
    Present residential address
    
    NationalityBangalore-560008Malikarjuna nilaya,#204, 7th A Main, 4thCross, RPC Layout,Vijayanagar,78
    
    Shivakumar Hanjagimath
    
    Basavarajaya
    
    
    31
    
    
    Bangalore-40
    
    IndianK 305, Purva Pavilion170, KempapuraKrishnaraj
    
    
    
    
    
    
    
    Hebbal79
    
    Venkataraman
    
    K S Venkataraman
    
    
    37
    
    
    Bangalore 560024
    
    Indian504 Glen Way NE80
    
    Vinay CR
    
    C Ramesh
    
    
    28
    
    
    Atlanta GA 30319
    
    IndianRohan Vasantha, AptA-201, Varathur MainRoad, Marathahalli,81
    
    Stephen Samuel
    
    N M Samuel
    
    
    33
    
    
    Bangalore - 560037
    
    Indian301, SMR VinayVatika, Nagan PalyaRoad, Maruti SewaNagar, Bangalore 56082
    
    Milind Kelkar
    
    Sundar Kelkar
    
    
    36
    
    
    033
    
    Indian905 Miami Way83
    
    Glen M. Springer
    
    Don Eugene Springer
    
    
    39
    
    
    Boulder CO 80305
    
    US CitizenNon-resident-A Company599B Yonge Street,
    
    registeredInfernotions
    
    
    
    
    
    
    
    Toronto ON M4Y
    
    under the laws84
    
    Corporation
    
    
    
    
    
    
    
    1Z4, Canada
    
    of Canada4869 North RidgesideCircle, Ann Arbor MI85
    
    M.S. Krishnan
    
    M.S.Swaminathan (late)
    
    
    43
    
    
    48105
    
    US Citizen203, Block3, Green isthe Color, 6th Cross,3rd Main, BTMLayout, 2nd Stage,Bilekahalli,86
    
    S. Ramakrishnan
    
    C R Sreenivasan
    
    
    35
    
    
    Bangalore-560076.
    
    Indian5A, KrystalApartments, 80 FeetRoad, Indiranagar,87
    
    Shankar Maruwada
    
    M.V.Rao
    
    
    35
    
    
    Bangalore-560075
    
    IndianY-1, Shivaganga Apts,Sonari, Jamshedpur,88
    
    Vinay Mishra
    
    Mahendra Misra
    
    
    34
    
    
    Jharkand-831 011
    
    NRI18, 2nd Floor, KhaderNawaz Khan Road,Nungambakkam,
    
    N/A-Indian89
    
    Spark Capital
    
    
    
    
    
    
    
    Chennai-600034
    
    CompanyS-24, Golden Enclave,Airport Road,90
    
    Ganesh Krishnan
    
    
    
    
    
    
    
    Bangalore-560 017
    
    Indian
 9




---



##### 



Sl.Nos.
    
    Name
    
    Fathers name
    
    Age
    
    
    Present residential address
    
    Nationality10 Frere Felix DeVelois Street, Port
    
    N/A-Mauritus91
    
    Tawny Dove Ltd
    
    
    
    
    
    
    
    Louis
    
    CompanyOld No: 4/9, New No:9 Casurina Drive,Neelankarai, Chennai -92
    
    Raji Raju
    
    A.H.Subramanian
    
    
    37
    
    
    600 041.
    
    Indian
 10