Document:

Unassociated Document

    June
18, 2010

    

     THE
SELLING SHAREHOLDERS NAMED IN SCHEDULE I

    

    NANDHA
ENERGY LIMITED

    

    CLENERGEN
INDIA PRIVATE LIMITED

    
       

    

    
      
        

      

    

     

    AGREEMENT
TO SELL AND PURCHASE SHARES

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    TABLE OF
CONTENTS

    

    
      
        	
                1.

              	
                DEFINITIONS
      AND INTERPRETATION

              	
                2

              
	
                2.

              	
                SALE
      AND PURCHASE

              	
                4

              
	
                3.

              	
                CLOSING

              	
                4

              
	
                4.

              	
                CONDITIONS
      PRECEDENT

              	
                5

              
	
                5.

              	
                REPRESENTATIONS,
      WARRANTIES AND COVENANTS

              	
                6

              
	
                6.

              	
                TERMINATION

              	
                11

              
	
                7.

              	
                INDEMNIFICATION

              	
                12

              
	
                8.

              	
                GOVERNING
      LAW, DISPUTE RESOLUTION AND JURISDICTION

              	
                12

              
	
                9.

              	
                SEVERABILITY
      OF PROVISIONS

              	
                13

              
	
                10.

              	
                BINDING
      EFFECT AND INVALIDITY

              	
                13

              
	
                11.

              	
                NOTICES

              	
                13

              
	
                12.

              	
                COSTS

              	
                14

              
	
                13.

              	
                NO
      PARTNERSHIP OR AGENCY

              	
                14

              
	
                14.

              	
                NO
      RELIANCE

              	
                14

              
	
                15.

              	
                ASSIGNMENT

              	
                14

              
	
                16.

              	
                WAIVER
      OF RIGHTS

              	
                14

              
	
                17.

              	
                AMENDMENTS

              	
                14

              
	
                18.

              	
                COUNTERPARTS

              	
                14

              
	
                19.

              	
                EXCLUSIVITY

              	
                14

              
	
                20.

              	
                SURVIVAL

              	
                15

              
	
                21.

              	
                FURTHER
      ASSURANCE

              	
                15

              
	 
      	 
      	 
      
	
                SCHEDULE
      I

              	
                18

              
	
                SCHEDULE
      II

              	
                19

              

      

    

    

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    
       

      AGREEMENT
TO SELL AND PURCHASE SHARES

       

      This
Agreement to Sell and Purchase Shares (the “Agreement”) is made on this 18
day of June 2010:

       

      BY
AND AMONG:

       

      
        	
                (i)

              	
                The Persons named in Schedule I
      hereto, each an Indian citizen and a person resident in India (the
      “Sellers”);

              

      

       

      
        	
                (ii)

              	
                Clenergen India Private
      Limited, a company incorporated under the laws of India with its
      registered office at “Heavitree” A1, 3rd Floor, Old No. 23, New No.47,
      Spurtank Road, Chetpet, Chennai 600 031, Tamil Nadu, India (the “Purchaser”);
      and

              

      

       

      
        	
                (iii)

              	
                Nandha Energy Limited, a
      company incorporated under the laws of India with its registered office at
      158, Anna Salai, Rayala Towers, 2nd
      Floor, Chennai 600 002, Tamil Nadu, India (the “Company”).

              

      

       

      WHEREAS:

       

      
        	
                (A)

              	
                The
      Sellers own the entire issued share capital of the Company, which consists
      of 50,078 Equity Shares.

              

      

       

      
        	
                (B)

              	
                The
      Company is engaged in the business of operating an 18 MW power plant
      located at Palayaseevaram, Kanchipuram District (collectively, the “Business”).  The
      Company had purchased the Business, along with all rights, properties,
      assets and materials related to the Business, from Mohan Breweries Limited
      (“Mohan
      Breweries”) through a slump sale agreement dated May 24, 2010 (the
      “Slump Sale
      Agreement”).

              

      

       

      
        	
                (C)

              	
                The
      Sellers proposes to sell to the Purchaser their entire shareholding in the
      Company aggregating 50,708 Equity Shares as set out in Schedule II hereto
      (together, the “Sale
      Shares”) and the Purchaser proposes to purchase from the Sellers,
      the Sale Shares for a total purchase consideration equal to Rs.600,000
      (“Purchase Price”)
      on the terms and conditions contained
herein.

              

      

       

      
        	
                (D)

              	
                The
      Company has availed of a term loan aggregating Rs.650 million from IDBI
      Bank Limited, with its branch at Annasalai, Saidapet, Chennai 600 015
      (“IDBI Bank”, and
      such loan agreement, the “IDBI
      Loan”).  The Sellers have given certain personal
      guarantees in respect of the IDBI Loan, and the Parties intend that these
      guarantees shall remain in full force until the grant of new guarantees
      from the Purchaser or its affiliates is approved by IDBI
      Bank.  However, the new management is free to substitute the
      IDBI Loan with any other borrowing, including any bank borrowing, as may
      be thought and deemed fit by them.

              

      

       

      
        	
                (E)

              	
                This
      Agreement sets out the terms and conditions of sale and relationship
      between the parties hereto and their rights and obligations in relation to
      the purchase of the Sale Shares by the
  Purchaser.

              

      

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      NOW, THEREFORE IN CONSIDERATION OF
THE MUTUAL COVENANTS AND PROMISES CONTAINED HEREIN THE PARTIES AGREE AS
FOLLOWS:

       

      
        	
                1.

              	
                DEFINITIONS
      AND INTERPRETATION

              

      

       

      
        	
                1.1

              	
                In
      this Agreement, the following words and expressions shall, unless the
      context requires otherwise, have the following meanings ascribed to
      them:

              

      

       

      “Affiliate” means, in relation
to any person, any other person which directly or indirectly Controls, or is
under common Control with, or is Controlled by, such person and, with respect to
individuals, includes their relatives;

       

      “Business Day” means a day,
other than Saturdays and Sundays, on which banks are generally open for business
in Chennai, India;

       

      “Control” means (including,
with its correlative meanings “Controlled by” and “under common Control with”),
with respect to any person, the possession, directly or indirectly, of power to
direct or cause the direction of management and policies (whether through
ownership of voting or other securities or partnership or other ownership
interests, by contract or otherwise) of a person, or the power to elect or
appoint a majority of the directors, managers, partners or other individuals
exercising similar authority with respect to such person;

       

      “Encumbrance” means any
mortgage, charge (whether fixed or floating), pledge, lien (statutory or other),
trust, hypothecation, assignment, security interest or other encumbrances of any
kind securing or conferring any priority of payment in respect of any obligation
of any person and includes without limitation 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 in each case under any
applicable Law;

       

      “Equity Shares” mean the equity
shares issued by the Company with a par value of Rupees 10 each or any other
issued share capital of the Company that is reclassified, reorganised,
reconstituted or converted into Equity Shares;

       

      “Governmental Authority” means:
(a) any national, state, city, municipal, or local government, governmental
authority or political subdivision thereof; (b) any agency, commission or
instrumentality of any of the authorities referred to in (a) above; (c) any
non-governmental regulatory or administrative authority, body or other
organisation, to the extent that the rules, regulations, standards,
requirements, procedures or orders of such authority, body or other organisation
have the force of applicable Law; (d) any competent court or tribunal; or (e)
any department, subdivision or local branch of the persons referred to in (a)
through (d);

       

      “Law” or “Laws” means any law, rule,
regulation, guideline, policy, press note, directive, order or other
pronouncement having the effect of law of any Governmental Authority, securities
exchange or other self-regulating body, as currently interpreted and
administered, any common or customary law, constitution, code, ordinance, statue
or other legislative measure and any regulation, rule, treaty, order, decree or
judgment;

       

      “Losses” means all actions,
suits, proceedings, hearings, investigations, charges, complaints, claims,
demands, dues, penalties, fines, costs, amounts paid in settlement, liabilities,
obligations, Taxes, losses, damages, deficiencies, costs of investigation, court
costs, and other expenses (including interest, penalties and reasonable
attorneys’ fees and expenses, whether in connection with third party claims or
claims among the parties related to the enforcement of the provisions of this
Agreement);

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      “Parties” mean the Purchaser and
the Sellers;

       

      “Sellers” means the persons
named in Schedule I
hereto; and

       

      “Taxes” means all forms of tax,
royalty, duty, rate, levy, cess or other similar imposition whenever and by
whatever authority in any country imposed, including income tax, corporation
tax, advance corporation tax, capital gains tax, capital transfer tax,
inheritance tax, development tax, value added tax, customs duties, excise
duties, service tax, stamp duty, stamp duty reserve tax, capital duty, national
insurance and social security or other similar contributions, and any interest,
penalty or fine in connection with any such taxation.

       

      
        	
                1.2

              	
                Except
      where the context requires otherwise, this Agreement will be interpreted
      as follows:

              

      

       

      
        	
                 
      

              	
                (a)

              	
                headings
      are for convenience only and shall not affect the construction or
      interpretation of any provision of this
  Agreement;

              

      

       

      
        	
                 
      

              	
                (b)

              	
                where
      a word or phrase is defined, other parts of speech and grammatical forms
      and the cognate variations of that word or phrase shall have corresponding
      meanings;

              

      

       

      
        	
                 
      

              	
                (c)

              	
                words
      importing the singular shall include plural and vice
  versa;

              

      

       

      
        	
                 
      

              	
                (d)

              	
                reference
      to Recitals, Clauses, Schedules and Annexures are to recitals, clauses,
      schedules and annexures of this
Agreement;

              

      

       

      
        	
                 
      

              	
                (e)

              	
                all
      words (whether gender-specific or gender neutral) shall be deemed to
      include each of the masculine, feminine and neuter
  genders;

              

      

       

      
        	
                 
      

              	
                (f)

              	
                the
      expressions “hereof”, “herein” and similar expressions shall be construed
      as references to this Agreement as a whole and not limited to the
      particular Clause or provision in which the relevant expression
      appears;

              

      

       

      
        	
                 
      

              	
                (g)

              	
                the
      ejusdem generis
      (of the same kind) rule will not apply to the interpretation of this
      Agreement.  Accordingly, “include” and “including” will be read
      without limitation;

              

      

       

      
        	
                 
      

              	
                (h)

              	
                any
      reference to a “person” includes any individual, firm, corporation,
      partnership, company, trust, association, joint venture, government (or
      agency or political subdivision thereof) or other entity of any kind,
      whether or not having separate legal personality.  A reference
      to any person in this Agreement shall, where the context permits, include
      such person's executors, administrators, heirs, legal representatives and
      permitted successors and assigns;

              

      

       

      
        	
                 
      

              	
                (i)

              	
                a
      reference to any document (including this Agreement) is to that document
      as amended, consolidated, supplemented, novated or replaced from time to
      time;

              

      

       

      
        	
                 
      

              	
                (j)

              	
                a
      reference to a statute or statutory provision includes, to the extent
      applicable at any relevant time:

              

      

       

      
        	
                 
      

              	
                (i)

              	
                that
      statute or statutory provision as from time to time consolidated,
      modified, re-enacted or replaced by any other statute or statutory
      provision; and

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                any
      subordinate legislation or regulation made under the relevant statute or
      statutory provision;

              

      

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (k)

              	
                references
      to writing include any mode of reproducing words in a legible and
      non-transitory form; and

              

      

       

      
        	
                 
      

              	
                (l)

              	
                references
      to “Rupees” and “Rs.” are references to the lawful currency of
      India.

              

      

       

      
        	
                2.

              	
                SALE
      AND PURCHASE

              

      

       

      
        	
                2.1

              	
                Subject
      to the terms and conditions contained herein, the Purchaser hereby
      undertakes to purchase the Sale Shares from the Sellers, and the Sellers
      hereby jointly and severally undertake to sell to the Purchaser the Sale
      Shares free and clear from all Encumbrances on the Closing Date for a
      consideration equal to the Purchase Price, which shall result in the
      Purchaser acquiring the entire issued share capital of the
      Company.

              

      

       

      
        	
                2.2

              	
                Stamp
      duty, if any, directly relating to the purchase of the Sale Shares shall
      be payable by the Purchaser. The Sellers shall be responsible for payment
      of any capital gains tax and/or income tax arising from the sale of the
      Sale Shares.

              

      

       

      
        	
                3.

              	
                CLOSING

              

      

       

      Closing
date is hereby clearly agreed as the date on which sanction/approval from IDBI
bank is received by the buyer on substitution of personal guarantees already
executed by the promoters of the company and release of pledge of shares of MBDL
offered by the promoters as collateral or sanction from any other bank for
foreclosure of the entire loan from IBDI bank.

       

      
        	
                3.1

              	
                On
      the first Business Day following the day on which the conditions precedent
      set forth in Clause 4 below are fulfilled to the satisfaction of the
      Purchaser or waived by the Purchaser (the “Closing
      Date”):

              

      

       

      
        	
                (i)

              	
                The
      Purchaser shall deliver demand drafts drawn in favour of the respective
      Sellers for the amounts set out against the name of such Seller in Schedule II (the “Demand Drafts”) to the
      respective Sellers in whose name such Demand Draft has been
      drawn.

              

      

       

      
        	
                (ii)

              	
                Each
      Seller shall deliver the physical share certificates representing all Sale
      Shares, being not less than such number of Sale Shares as are listed
      against its name in Schedule II, and duly
      executed and stamped share transfer forms for these share certificates
      representing all such Sale Shares, to the Company Secretary of the
      Company.

              

      

       

      
        	
                (iii)

              	
                Immediately
      upon receiving the physical share certificates representing all Sale
      Shares and duly executed and stamped share transfer forms in accordance
      with Clause 3.1(ii), the Company shall convene a meeting of its board of
      directors and shall: (i) register the Sale Shares in the name of the
      Purchaser in the Company’s register of members, and the Purchaser, the
      Company and the Sellers shall make all such filings with Governmental
      Authorities that may be required under applicable Law in connection with
      the purchase of the Sale Shares by the Purchaser pursuant to this
      Agreement, and (ii) approve the appointment of the Purchaser’s nominees to
      the board of directors of the
Company.

              

      

       

      
        	
                (vi)

              	
                Immediately
      following the appointment of the Purchaser’s nominees to the board of
      directors of the Company in accordance with Clause 3.1 (iii), the Sellers
      shall procure that their nominees on the board of directors of the Company
      resign with effect from the end of the board meeting referred to in Clause
      3.1 (iii).

              

      

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        4.   
CONDITIONS
PRECEDENT

      

       

      
        	
                4.1

              	
                The
      obligation of the Purchaser to purchase the Sale Shares under this
      Agreement shall be subject to the satisfaction of the following
      conditions, at or before the Closing
Date:

              

      

       

      
        	
                 
      

              	
                (i)

              	
                Regulatory
      Approvals.  Receipt of all regulatory approvals of
      Governmental Authorities that are required to be obtained by a Party in
      connection with the transactions contemplated hereunder in form and
      substance satisfactory to the
Purchaser.

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                Consents.  The
      Purchaser shall have received written consents from all third parties,
      including IDBI Bank Limited in respect of the IDBI Loan, to such extent as
      may be required by any “change in control” or similar assignment
      provisions of any contract or agreement with the Company or any permit
      which the Purchaser considers to be necessary or desirable, to enable the
      Sellers to sell the Sale Shares.

              

      

       

      
        	
                 
      

              	
                (iii)

              	
                Corporate
      Approvals. The board of directors of the Purchaser and/or the board
      of directors of the holding company of the Purchaser shall have authorised
      this Agreement and the transactions contemplated
  therein.

              

      

       

      
        	
                 
      

              	
                (iv)

              	
                Due
      Diligence. The Purchaser shall have completed a commercial,
      financial and legal due diligence of the Company to its
      satisfaction.

              

      

       

      
        	
                 
      

              	
                (v)

              	
                Sellers’
      Guarantees.  The guarantees given by the Sellers in
      respect of the IDBI Loan shall be valid and be in full force and effect,
      and shall not have been withdrawn up to and including the Closing
      Date.

              

      

       

      
        	
                 
      

              	
                (vi)

              	
                Financial
      Statements.  The Company shall have provided, and the
      Sellers shall have procured the Company to provide, to the Purchaser: (a)
      the audited financial statements of the Company on a standalone basis for
      the previous two (2) financial years of the Company (collectively, the
      “Audited Financial
      Statements”) if such Audited Financial Statements are required by
      any Law of the Securities and Exchange Commission that are applicable to
      the Purchaser and/or Affiliates, and (b) the unaudited financial
      statements of the Company from the date of the last audited financial
      statements of the Company until the Closing Date (the “Unaudited Financial
      Statements”, and, together with the Audited Financial Statements,
      the “Financial
      Statements”).

              

      

       

      
        	
                 
      

              	
                (vii)

              	
                Representations
      and Warranties.  Each of the representation and
      warranties set out in Clauses 5.1 and 5.2 shall be true and correct in all
      respects as on and immediately prior to the Closing Date (other than such
      representations and warranties that specifically relate to an earlier
      date, which shall only be made with respect to such
  date).

              

      

       

      
        	
                 
      

              	
                (viii)

              	
                Letter
      from Mohan Breweries:  The Sellers shall have delivered
      to the Purchaser a duly executed letter from Mohan Breweries, in form and
      substance satisfactory to the Purchaser, undertaking that Mohan Breweries
      had  good and valid title to its assets and properties that were
      transferred to the Company pursuant to the Slump Sale Agreement, and that
      such assets and properties were duly and validly transferred to the
      Company pursuant to the Slump Sale
Agreement.

              

      

       

      
        	
                4.2

              	
                The
      Purchaser and the Sellers shall co-operate fully in all actions necessary
      to procure the satisfaction of the aforesaid conditions precedent,
      including, but not limited to, the provision by all Parties of all
      information reasonably necessary to make any applications for consent,
      notification or filing or as requested by any relevant Governmental
      Authority, keeping all Parties informed of the progress of any
      notification or filing and providing such assistance as may reasonably be
      required.

              

      

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
        5.    
REPRESENTATIONS,
WARRANTIES AND COVENANTS

      

       

      
        	
                5.1

              	
                Representations and Warranties
      of the Sellers

              

      

      

      
        	
                 
      

              	
                Each
      Seller, jointly and severally, makes the representations and warranties
      set forth below to the Purchaser as of the date hereof and the Closing
      Date, and acknowledges that the Purchaser is entering into this Agreement
      in reliance upon such representations, warranties and
      covenants:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Such
      Seller has the necessary power, capacity and authority to enter into and
      perform this Agreement and this Agreement constitutes valid and legally
      binding and enforceable obligations of such
  Seller;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                Such
      Seller holds and has good and valid title to the Sale Shares to be
      purchased by the Purchaser from such Seller under this Agreement and the
      share certificates (if any) representing such Shares, and has full power
      and right to sell and transfer full legal title and beneficial ownership
      free and clear of all Encumbrances to and in the Sale Shares on the terms
      of this Agreement.  Except for the Sale Shares, such Seller
      neither owns nor is entitled to receive or own (beneficially or on record)
      any other securities of the Company and has not entered into any agreement
      with any person to acquire, or that gives the Seller the option to
      acquire, any Equity Shares or other securities of the
    Company;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                Upon
      delivery of share certificates and executed share transfer deeds
      representing all the Sale Shares to be sold by such Seller, good and valid
      title to such Sale Shares will pass to the Purchaser, free and clear of
      any Encumbrances, and such Sale Shares are not subject to any voting trust
      agreement or other contract relating to the ownership, voting, dividend
      rights or disposition of such Sale
Shares;

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated hereby (alone or in combination with any other
      event) and compliance by such Seller with the provisions of this Agreement
      do not and will not, on the date hereof or the Closing Date, conflict
      with, or result in any violation or breach of, or default (with or without
      notice or lapse of time, or both) under, or give rise to a right of, or
      result in, termination, cancellation or acceleration of any obligation or
      to a loss of a benefit under, or result in the creation of any Encumbrance
      in or upon any of the properties or assets of such Seller under, or give
      rise to any increased, additional, accelerated or guaranteed rights or
      entitlements under, any provision of any contract to which such Seller is
      a party or any of its properties or assets is
  subject;

              

      

      

      
        	
                 
      

              	
                (e)

              	
                No
      consent, approval, order or authorization of, or registration, declaration
      or filing with, any Governmental Authority is required by or with respect
      to such Seller in connection with the execution and delivery of this
      Agreement or the consummation by such Seller of the transactions
      contemplated hereby (alone or in combination with any other event);
      and

              

      

      

      
        	
                 
      

              	
                (f)

              	
                No
      distress, execution or other process has been levied on any of the assets
      of any Seller and each Seller is not insolvent or bankrupt or unable to
      pay his or her debts as they fall
due.

              

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      
        	
                5.2

              	
                Representations and Warranties
      in respect of the Company

              

      

      

      
        	
                 
      

              	
                Each
      Seller, jointly and severally, makes the representations and warranties
      set forth below to the Purchaser as of the date hereof and as of the
      Closing Date, and acknowledges that the Purchaser is entering into this
      Agreement in reliance upon such representations, warranties and
      covenants:

              

      

      

      
        
          	
                   
      

                	
                  (a)

                	
                  Capitalization:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  The
      authorized share capital of the Company is Rs.600,000 divided into 60,000
      equity shares of Re. 10 each.  The issued, subscribed and fully
      paid-up share capital of the Company as of the date hereof is 50,708
      Equity Shares.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  Except
      for the 50,708 Equity Shares that are issued and outstanding, no shares of
      any class, options, rights, warrants, contracts, calls, puts, rights to
      subscribe, conversion rights or any other securities convertible into
      equity securities of the Company are issued, subject to issue or
      outstanding.  No options, warrants, pre-emptive rights or other
      rights to purchase Equity Shares or other securities of the Company and no
      securities or obligations convertible into or exchangeable for Equity
      Shares or other securities of the Company have been authorised or agreed
      or are outstanding.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iii)

                	
                  There
      are no contracts or commitments to which the Company or any of the Sellers
      is a party or by which the Company or any of the Sellers is bound relating
      to the voting, issuance, sale, repurchase, redemption, transfer or
      acquisition of any shares or rights/options of the
  Company.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iv)

                	
                  The
      Sale Shares are duly authorized, validly issued and fully paid-up and not
      subject to or issued in violation of any purchase option, call option,
      right of first refusal, pre-emptive right, subscription right, right of
      repurchase or risk of forfeiture in favour of the Company or any similar
      right under any provision of applicable law, the Memorandum of Association
      and the Articles of Association of the Company or any contract to which
      the Company is a party or otherwise bound.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (b)

                	
                  Organization
      and Power and Authority of the Company and No
    Conflict:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  The
      Company has been duly incorporated and validly exists under applicable Law
      and has all requisite corporate power and possesses all governmental
      licences, permits, authorizations and approvals necessary to enable it to
      own, lease or otherwise hold its properties and assets, including the Sale
      Shares, and to conduct the Business as presently
  conducted.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  The
      Company has full power and authority to execute this Agreement and to
      consummate the transactions contemplated hereby and
    thereby.

                
	 	 	 

        

      

      
        	
                 
      

              	
                (iii)

              	
                The
      execution, delivery and performance of this Agreement by the Company and
      the consummation of the transactions contemplated hereby and compliance by
      the Company with the terms hereof will not conflict with, or result in any
      violation of or default (with or without notice or lapse of time, or both)
      under, or otherwise cause any impairment or revocation of, or give rise to
      a right of pre-emption, termination, cancellation or acceleration of any
      obligation or to loss of a material benefit under, or to increased,
      additional, accelerated or guaranteed rights or entitlements of any person
      under, or result in the creation of any Encumbrance upon any of the
      properties or assets of the Company under (i) any provision of the
      Memorandum of Association and Articles of Association of the Company, (ii)
      any contract to which the Company is a party or by which any of their
      respective properties or assets is bound, including the terms of any loan
      documents entered into by the Company, or (iii) any order or Law
      applicable to the Company or its properties or assets; or (iv) any permit
      or other similar authorization held by the
  Company.

              

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      
        
          	
                   
      

                	
                  (c)

                	
                  Compliance
      with Laws:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  The
      Company and its properties, assets and operations and the Business are and
      have been compliant with all applicable Laws and there is no breach or
      violation by the Company of any Laws.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  The
      Company has duly and in a timely manner obtained and has complied with all
      approvals and permits necessary for it to own, lease or operate its
      properties and assets and for the Business to be conducted in the manner
      and in the places as currently conducted, and there has occurred no
      violation of, or default (with or without notice or lapse of time, or
      both) under, any such approvals or permit.  All such permits and
      approvals are in full force and effect.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iii)

                	
                  The
      Company is in compliance with all applicable labour, health and safety
      Laws and regulations regarding employment and employment practices, terms
      and conditions of employment, wages and hours, and no employment-related
      complaint or grievance exists.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (d)

                	
                  Financial
      Statements:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  The
      Financial Statements prepared and delivered by the Company in accordance
      with Clause 4.1(vi) above: (i) were derived from and have been prepared in
      accordance with the underlying books and records of the Company, (ii) have
      been prepared in accordance with Indian GAAP consistently applied,
      throughout the periods covered thereby, and (iii) are accurate and
      complete in all respects and fairly and accurately present the assets,
      liabilities (including all reserves) and financial position of the Company
      as of the dates thereof and the results of operations, shareholders’ funds
      and changes in cash flows of the Company for the periods then
      ended.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  The
      Company does not have any material liabilities, commitments or obligations
      of any nature (whether known, unknown, absolute, accrued, contingent,
      unasserted or otherwise, whether due or to become due and whether or not
      required to be reflected on a balance sheet in accordance with Indian
      GAAP) that are not reflected on the most recent balance sheet included in
      the Financial Statements (or disclosed in the notes
    thereto).

                
	 	 	 

        

      

      
        	
                 
      

              	
                (iii)

              	
                The
      books of account and records of the Company are and have been properly
      prepared and maintained in form and substance adequate for preparing
      audited financial statements in accordance with Indian GAAP and fairly and
      accurately reflect all of the assets and liabilities of the Company and
      all contracts and transactions to which the Company is or was a party or
      by which the Company or any of its business or assets is or was
      affected.  The minute books of the Company, correct and complete
      copies of which have been made available to the Purchaser, correctly
      reflect all resolutions adopted and all other material actions taken at
      all meetings or through consents of the board of directors of the Company
      and the Company’s shareholders, if
any.

              

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      
        
          	
                   
      

                	
                  (e)

                	
                  Legal
      Proceedings:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  Except
      otherwise disclosed by the Company or the Seller there is no action, suit,
      enforcement action or arbitration by or before any court, tribunal,
      Governmental Authority or any other instrumentality or agency, pending or
      for which process has been served, initiated by any person, or threatened
      against, or affecting the Company or any of its properties or rights or
      any claim with respect to which any Seller or the Company has been
      contacted in writing by counsel for the plaintiff or
      claimant.  There are no unfulfilled or unsatisfied judgments
      against the Company.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (f)

                	
                  Financial
      Obligations and No Insolvency:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  Except
      for the IDBI Loan, there are no debts owing by or to the Company other
      than debts that have arisen in the ordinary course of
      business.  The Company is not in default under any instrument
      constituting any debts or under any guarantee of any debts and there is no
      lawful reason why any such debts or guarantee should be called or the
      liabilities thereunder accelerated before their due date (if any) or any
      loan or other financial facilities terminated.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  In
      relation to the IDBI Loan, until IDBI Bank Limited approves the transfer
      of the Sale Shares to the Purchaser, it is understood that the Sellers
      have not withdrawn the guarantees given by such Sellers in respect of the
      IDBI Loan, and such guarantees are valid and in full force and effect
      until the letter of permission from IDBI Bank Limited in relation to the
      transfer of the Sale Shares to the Purchaser is received by the
      Purchaser.  The Company is free to avail a term loan from any
      other bank in substitution of the IDBI Loan for any reason as may be
      thought and deemed fit by them.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iii)

                	
                  The
      Company has not improperly stopped payment, and is not insolvent or deemed
      unable to pay its debts.  No order has been made, petition
      presented or meeting convened for the purpose of considering a resolution
      for the winding up (liquidation) of the Company or, to the best knowledge
      of such Seller, the bankruptcy of a Seller, or for the appointment of any
      provisional liquidator or liquidation commission in respect of the
      Company.  No insolvency (bankruptcy) procedures have been
      initiated with respect to the Company (including the appointment of an
      arbitration manager (provisional manager, administrative manager, external
      manager or receiver) in respect of the whole or any part of any of their
      property or assets).  Neither the Company nor such Sellers have
      received any notice with respect to the initiation of such procedures and,
      to the best knowledge of such Seller, there are not any circumstances
      likely to lead to the same.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (g)

                	
                  Property
      and Employees:

                
	 	 	 

        

      

      
        	
                 
      

              	
                (i)

              	
                The
      real properties leased, used or occupied by the Company (the “Properties”) that were
      transferred to it by Mohan Breweries in pursuance of the Slump Sale
      Agreement comprise all the real property leased, used or occupied by the
      Company, and each lease of each Property has, when required to be so, been
      validly registered with the applicable Governmental
      Authority.  The Company holds valid title to all the Properties
      (other than leased Properties), such title has been validly registered
      with the applicable Governmental Authority (where required) and such title
      has not been challenged by any Person.  The Company is the legal
      and beneficial owner of the Properties (other than leased Properties) free
      from all Encumbrances.  To the best knowledge of such Seller,
      there are no outstanding disputes, notices of complaint, restriction of
      rights, permits or contracts that affect or are reasonably expected to
      affect the use of any of the Properties for the purpose for which they are
      now used.  To the best knowledge of such Seller, no material
      structural or other defects have appeared in respect of or affecting the
      buildings and structures on or comprising any of the Properties or any
      parts thereof (or the utilities serving them) and all such buildings and
      structures (and the utilities serving them) are in good and substantial
      repair and condition, except for reasonable wear and tear in the ordinary
      course of business.

              

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (ii)

              	
                Prior
      to the Slump Sale Agreement, Mohan Breweries held good and marketable
      title to, and legal and beneficial ownership of, all the Properties and
      such title was duly transferred to the Company pursuant to the Slump Sale
      Agreement.

              

      

      
        
          	 	 	 
	
                   
      

                	
                  (iii)

                	
                  All
      intellectual property owned by the Company and all intellectual property
      relating to, used in or held for use by the Company in connection with the
      operation of the Business (the “Company Intellectual
      Property”) is: (i) owned by the Company and is valid and
      subsisting, and free and clear of all Encumbrances, or (ii) licensed by
      the Company from a person pursuant to a valid and enforceable written
      license.  The Company Intellectual Property, including any
      assignments from Mohan Breweries with respect to the Company Intellectual
      Property, has not lapsed under applicable Law.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iv)

                	
                  The
      Company Intellectual Property and the products sold or services provided
      by the Company do not violate, misappropriate, misuse or infringe, and the
      Company has not received notice that any of the Company Intellectual
      Property violates, misappropriates, misuses or infringes, any intellectual
      property rights of any third party.  There is no litigation,
      opposition, cancellation, proceeding, objection or claim pending or, to
      the best knowledge of such Seller, threatened concerning the ownership,
      validity, registrability, enforceability, infringement, misappropriation,
      violation or use of, or licensed right to use, any Company Intellectual
      Property, to the best knowledge of such Seller, no valid basis for any
      such litigation, opposition, cancellation, proceeding, objection or claim
      exists.  No Company Intellectual Property owned by the Company
      is subject to any outstanding claim, dispute, action, suit, appeal, order,
      proceeding or stipulation restricting in any manner the use thereof by the
      Company.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (v)

                	
                  The
      Company and the Sellers have delivered to the Purchaser a complete list of
      (i) all employees of the Company, together with a description of their
      respective job titles and responsibilities, date of employment and annual
      compensation (including salaries, bonuses, consulting fees, stock options,
      if any, and other incentive or deferred compensation), and (ii) all
      employee benefit plans and employment contracts.  The Company
      has fully complied with the terms and conditions of the employment
      contracts listed in such list, and has discharged all of its obligations
      there under, including payment of salaries, on a timely
    basis.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (h)

                	
                  Clients
      and Suppliers:

                
	 	 	 

        

      

      
        	
                 
      

              	
                (i)

              	
                No
      client of the Company has cancelled, terminated or materially and
      adversely modified or, to the best knowledge of such Seller, threatened to
      cancel, terminate or materially and adversely modify, its relationship
      with the Business and the relationship with each such client has not
      changed in any materially adverse respect.  The Company has not
      received any written or oral complaint from a client of the Company
      concerning its services, other than complaints in the ordinary course of
      business which have been addressed in a manner satisfactory to the
      client.

              

      

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      
        
          	
                   
      

                	
                  (ii)

                	
                  None
      of the suppliers of the Company has cancelled, terminated or materially
      and adversely modified or, to the best knowledge of such Seller,
      threatened to cancel, terminate or materially and adversely modify, its
      relationship with the Business and the relationship with each such
      supplier has not changed in any adverse respect.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (iii)

                	
                  The
      Company has sufficient stock-in-trade to provide the goods and services to
      its clients on an on-going basis, and no shortfall in such stock-in-trade
      or disruptions in the supply of such stock-in-trade have been experienced
      by the Company or are expected.  In the event of any such
      shortfall or disruption in the supply of stock-in-trade, the Sellers shall
      procure adequate stock-in-trade for the Company to continue its operations
      in the normal course.

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  Insurance:

                
	 	 	 

        

      

      
        
          	
                   
      

                	
                  (i)

                	
                  The
      Company maintains such policies of insurance, issued by responsible
      insurers, as are appropriate to its operations and the Company assets, in
      such amounts and against such risks as are customarily carried and insured
      against by owners of comparable businesses, properties and
      assets.  All such policies are in full force and effect and the
      Company is not in default, as to the payment of premium or otherwise,
      under the terms of any such policy.  The nature, scope and
      amounts of the insurance coverage provided by such policies are sufficient
      to adequately insure the Company’s Business, the Company’s assets and the
      Company’s operations, key employees, services and potential liabilities,
      and such insurance coverage is at least as comprehensive as the insurance
      coverage customarily maintained by comparable entities.

                
	 	 	 

        

      

      
        	
                 
      

              	
                (k)

              	
                Name
      of the company to be changed and the title Nanda Energy Limited has to be
      made available to the Seller and the purchaser not to represent that the
      company is a group company of MBDL or anyway linked to any
      seller.

              

      

      

      
        	
                5.3

              	
                Representations and Warranties
      of the Purchaser

              

      

      

      The
Purchaser hereby represents, warrants and covenants to the Sellers that the
following statements are true, accurate and complete as of the date hereof and
the Closing Date, and acknowledges that the Sellers are entering into this
Agreement in reliance upon such representations, warranties and
covenants:

      

      
        	
                 
      

              	
                (a)

              	
                The
      Purchaser has the necessary power, capacity and authority to enter into
      and perform this Agreement and this Agreement constitutes valid and
      legally binding and enforceable obligations of the Purchaser;
      and

              

      

      

      
        	
                 
      

              	
                (b)

              	
                No
      consent, approval, order or authorization of, or registration, declaration
      or filing with, any Governmental Authority is required by or with respect
      to the Purchaser in connection with the execution and delivery of this
      Agreement or the consummation by the Purchaser of the transactions
      contemplated hereby (alone or in combination with any other
      event).

              

      

      
         

        6.  
TERMINATION

      

       

      
        	
                6.1

              	
                The
      Purchaser and the Sellers may terminate this Agreement at any time prior
      to the Closing Date if they mutually agree to do so in
      writing.

              

      

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      
        	
                6.2

              	
                The
      Purchaser may, by a written notice to the Sellers, terminate this
      Agreement forthwith if:

              

      

       

      
        	
                 
      

              	
                (i)

              	
                Any
      event occurs which constitutes a breach of any of the representations and
      warranties set out in Clauses 5.1 and
5.2;

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                There
      is any breach or non-fulfilment by any of the Sellers of their respective
      obligations under this Agreement.

              

      

       

      
        	
                6.3

              	
                This
      agreement will automatically get terminated if the Purchaser fails to
      receive the sanction from IDBI bank or some other bank as mentioned in
      clause 3.1.

              

      

       

      
        7.   
INDEMNIFICATION

      

       

      
        	
                7.1

              	
                Without
      prejudice to any other right or remedy which may be available to the
      Purchaser, each Seller, jointly and severally, covenants with the
      Purchaser to indemnify, defend, save and hold harmless the Purchaser and
      each of its Affiliates and each of their respective officers, directors,
      employees, agents and representatives (the “Purchaser Indemnified
      Parties”) from and against, and pay to the Purchaser Indemnified
      Parties from time to time on demand such amounts as are equal to the
      amount of, all Losses in each case, directly or indirectly suffered or
      incurred in connection with or in relation to (a) any matter or matters
      giving rise to any claim for breach or non-observance by such Seller of
      the representations and warranties given by such Seller in Clauses 5.1 and
      5.2 hereto or any other provision of this Agreement, and (b) any liability
      of the Company for any Tax determined with reference to any period ending
      on or prior to the Closing Date.

              

      

       

      
        	
                7.2

              	
                The
      right to indemnification, payment of damages or other remedy based on the
      representations, warranties, covenants, obligations and agreements
      contained in this Agreement shall not be affected by any investigation
      conducted with respect to, or any knowledge acquired (or capable of being
      acquired) at any time, whether before or after the Closing Date, with
      respect to the accuracy or inaccuracy of or compliance or non-compliance
      with, any such representation, warranty, covenant, obligation or
      agreement.

              

      

       

      
        	
                7.3

              	
                The
      foregoing indemnification provisions set forth in this Clause 7 are in
      addition to, and not in derogation of, any statutory, equitable or common
      law remedy that may be available to the
  Purchaser.

              

      

       

      
        8.   
GOVERNING
LAW, DISPUTE RESOLUTION AND JURISDICTION

      

       

      
        	
                8.1

              	
                This
      Agreement shall be governed by, and construed in accordance with, the laws
      of India, without regard to the principles of conflicts to law of any
      other jurisdiction, and subject to this Clause 8, the courts of Chennai
      shall have jurisdiction.

              

      

       

      
        	
                8.2

              	
                In
      the event a dispute arises out of or in relation to or in connection with
      the interpretation or implementation of this Agreement, the Parties (the
      “Disputing
      Parties”) shall attempt in the first instance to resolve such
      dispute through amicable consultations between the Disputing
      Parties.  If the dispute is not resolved through such
      consultations within seven Business Days (or such longer period as the
      Disputing Parties may agree to in writing) then either of the Disputing
      Parties may, by notice in writing to each other, refer the dispute to
      binding arbitration in accordance with the Rules of Arbitration of the
      Indian Council of Arbitration to be conducted in accordance with the fast
      track arbitration procedures as set forth in such
  rules.

              

      

      
        
          	 	 
	
                  8.3

                	
                  The
      arbitration shall be conducted as
follows:

                

        

      

       

      
        	
                 
      

              	
                (a)

              	
                all
      claims, disputes and differences between the Parties arising out of or in
      connection with this Agreement shall be referred to or submitted for
      arbitration in Chennai;

              

      

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                the
      arbitration shall be conducted in English by a sole arbitrator to be
      appointed by the Registrar of the Indian Council of Arbitration and the
      arbitrator so appointed shall have relevant expertise in the area of
      commercial and corporate laws;

              

      

       

      
        	
                 
      

              	
                (c)

              	
                the
      arbitrator shall have the power to award interest on any sums
      awarded;

              

      

       

      
        	
                 
      

              	
                (d)

              	
                notwithstanding
      the power of the arbitrator to grant interim relief, the Disputing Parties
      shall have the power to seek appropriate interim relief from the courts of
      Chennai;

              

      

       

      
        	
                 
      

              	
                (e)

              	
                the
      arbitration award shall be final and binding on the Disputing Parties and
      the Disputing Parties agree to be bound thereby and to act
      accordingly;

              

      

       

      
        	
                 
      

              	
                (f)

              	
                the
      arbitrator may award to a Disputing Party that substantially prevails on
      the merits, its costs and expenses (including fees of its
      counsel);

              

      

       

      
        	
                 
      

              	
                (g)

              	
                without
      prejudice to and subject to the indemnification provisions in this
      Agreement, the Parties shall bear their respective costs incurred in the
      arbitration unless otherwise awarded or fixed by the arbitration tribunal;
      and

              

      

       

      
        	
                 
      

              	
                (h)

              	
                the
      Disputing Parties shall co-operate in good faith to expedite, to the
      maximum extent practicable, the conduct of any arbitral proceedings
      commenced pursuant to this
Agreement.

              

      

       

      
        	
                9.

              	
                SEVERABILITY
      OF PROVISIONS

              

      

       

      The
invalidity or unenforceability of any term, phrase, Clause, paragraph,
restriction, covenant, agreement or other provisions hereof shall in no way
affect the validity or enforcement of any other provision, or any part
thereof.  In the event that any provision of this Agreement shall be
finally determined to be unlawful, such provision shall be deemed severed from
this Agreement, but every other provision of this Agreement shall remain in full
force and effect, and in substitution for any such provision held unlawful,
there shall be substituted by mutual consultation and agreement of the Parties
hereto a provision of similar import reflecting the original intent of the
Parties to the extent permissible under Law.

       

      
        	
                10.

              	
                BINDING
      EFFECT AND INVALIDITY

              

      

       

      
        	
                10.1

              	
                All
      terms and conditions of this Agreement shall be binding upon and inure to
      the benefit of and be enforceable by the legal representatives and assigns
      of the Parties.

              

      

       

      
        	
                10.2

              	
                The
      Parties agree that if any of the provisions of this Agreement is or
      becomes invalid, illegal or unenforceable, the validity, legality or
      enforceability of the remaining provisions shall not in any way be
      affected or impaired.  Notwithstanding the foregoing, the
      Parties shall thereupon negotiate in good faith in order to agree the
      terms of a mutually satisfactory provision, achieving as nearly as
      possible the same commercial effect, to be substituted for the provision
      so found to be void or
unenforceable.

              

      

       

      
        	
                11.

              	
                NOTICES

              

      

       

      
        	
                11.1

              	
                Any
      notice or other communication to be given by one or more Parties to any
      other Party or Parties under, or in connection with, this Agreement shall
      be in writing and signed by or on behalf of the Party or Parties giving
      it.  It shall be served by sending it by facsimile to the number
      set out below, or delivering it by hand, or sending it prepaid by a
      recognized international courier service, to the address set out below and
      in each case marked for the attention of the relevant Party set out
      below:

              

      

       

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      

      
        
          	
                  If
      to any of the Sellers:

                	
                  158,
      Anna Salai, Rayala Towers, 2nd
      Floor, Chennai 600 002, Tamil Nadu, India

                
	 
      	 
      
	
                  If
      to the Company:

                	
                  Nandha
      Energy Limited, 158, Anna Salai, Rayala Towers, 2nd Floor, Chennai 600
      002, Tamil Nadu, India

                
	 
      	 
      
	
                  If
      to the Purchaser:

                	
                  Clenergen
      India Private Limited, “Heavitree” A1, 3rd
      Floor, Old No. 23, New No.47, Spurtank Road, Chetpet, Chennai 600 031,
      Tamil Nadu, India

                

        

      

       

      
        	
                12.

              	
                COSTS

              

      

       

      Each
Party bears its own fees, costs and expenses incurred in the negotiation,
preparation, execution and implementation of this Agreement.

       

      
        	
                13.

              	
                NO
      PARTNERSHIP OR AGENCY

              

      

       

      Nothing
in this Agreement shall be deemed to constitute a partnership between the
Parties or constitute any Party the agent of any other Party for any purpose or
entitle any Party to commit or bind any other Party in any manner or give rise
to fiduciary duties by one Party in favour of any other.

       

      
        	
                14.

              	
                NO
      RELIANCE

              

      

       

      Each of
the Parties agrees and acknowledges that in entering into this Agreement it is
not relying on any representations, warranty or statement made by or on behalf
of any other Party, whether orally or in writing, unless the same is expressly
set out herein.

       

      
        	
                15.

              	
                ASSIGNMENT

              

      

       

      
        	
                 
      

              	
                None
      of the Parties shall be entitled to assign or transfer or purport to
      assign or transfer any of its rights or obligations under this Agreement
      except with the prior written consent of each other Party, provided however, that
      the Purchaser may assign this Agreement or any rights and/or obligations
      hereunder under this Agreement to any Affiliate of the
      Purchaser.

              

      

       

      
        	
                16.

              	
                WAIVER
      OF RIGHTS

              

      

       

      No waiver
by a Party of a failure or failure by any other Party to this Agreement to
perform any provision of this Agreement shall operate or be construed as a
waiver in respect of any other or further failure whether of a like or different
character.

       

      
        	
                17.

              	
                AMENDMENTS

              

      

       

      This
Agreement may be amended only by an instrument in writing signed by duly
authorised representatives of each Party to this Agreement.

       

      
        	
                18.

              	
                COUNTERPARTS

              

      

       

      This
Agreement may be entered into in two or more counterparts each of which, when
executed and delivered, shall be an original, but all the counterparts shall
together constitute one and the same instrument.

       

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      
        	
                19.

              	
                EXCLUSIVITY

              

      

       

      In
consideration of the substantial expenditure of time and effort to be undertaken
by the Purchaser and its representatives in connection with the transactions
contemplated by this Agreement, and in order to induce the Purchaser to pursue
the transactions, the Company and the Sellers hereby agree and undertake that
during the period commencing as of the date hereof and ending on the earlier of
(i) the Closing Date, or (ii) three (3) months from the date hereof (such
period, the “Exclusivity
Period”), the Company and the Sellers shall not (and shall ensure that
their respective officers, directors, employees, agents, or affiliates will
not), directly or indirectly:

       

      
        	
                 
      

              	
                (i)

              	
                initiate,
      authorize, make, accept, negotiate, discuss, entertain, continue, or
      otherwise pursue any offers or proposals to engage in any equity
      investment, debt financing, or other transaction that may be an
      alternative to, or may interfere with, the transactions contemplated in
      this Agreement (any such transaction, an “Alternative
      Transaction”);

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                offer,
      solicit, request, encourage, or respond to any proposal by any third party
      with respect to any such Alternative Transaction;
  or

              

      

       

      
        	
                 
      

              	
                (iii)

              	
                enter
      into any agreement or understanding in respect of, or consummate any,
      Alternative Transaction.

              

      

       

      
        	
                20.

              	
                SURVIVAL

              

      

       

      The
termination of this Agreement shall in no event terminate or prejudice: (a) any
right or obligation arising out of or accruing under this Agreement attributable
to events or circumstances occurring prior to such termination;  and
(b) the provisions of Clauses 5, 7, 8, 9 and 11 and this Clause 21.

       

      
        	
                21.

              	
                FURTHER
      ASSURANCE

              

      

       

      
        	
                21.1

              	
                Each
      Party shall, at its own cost, perform (or procure the performance of) all
      further acts and things, and execute and deliver (or procure the execution
      and delivery of) such further documents, as may be required by Law or the
      other Party may reasonably require, to implement and/or give effect to
      this Agreement and the transactions contemplated by it, including for the
      purpose of vesting in the Purchaser the full benefit of the Sale Shares to
      be transferred to the Purchaser under this Agreement.  The
      Purchaser, the Company and the Sellers agree to make all such filings with
      Governmental Authorities that may be required under any Law to give effect
      to the terms of this Agreement.

              

      

      

      
        	
                21.2

              	
                The
      Sellers shall, at all times, exercise their respective voting rights,
      cause any holders of proxies to exercise such voting rights on their
      behalf at any general meeting and cause their nominees on the board of
      directors of the Company to exercise their voting rights, in a manner that
      shall give effect to and shall comply with the terms of this
      Agreement.

              

      

      

      [The remainder of this page has been
intentionally left blank.  Signature page
follows.]

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      IN WITNESS WHEREOF the Parties
hereto have executed this Agreement on the day and year first above
written.

      

      
        	
                /s/  M.
Nandagopal

              	 
      
	
                Mr.
      M. Nandagopal

              	 
      
	 
      	 
      
	
                /s/  Natarajan
      Nandagopal

              	 
      
	
                Mr.
      Natarajan Nandagopal

              	 
      
	 
      	 
      
	
                /s/  Arvind
      Nandagopal

              	 
      
	
                Mr.
      Arvind Nandagopal

              	 
      
	 
      	 
      
	
                /s/  Madhaneshwari
      Nandagopal

              	 
      
	
                Ms.
      Madhaneshwari Nandagopal

              	 
      
	 
      	 
      
	
                /s/  Shoba
    Natrajan

              	 
      
	
                Ms.
      Shoba Natrajan

              	 
      
	 
      	 
      
	
                /s/  Sindhura
    Arvind

              	 
      
	
                Ms.
      Sindhura Arvind

              	 
      
	 
      	 
      
	
                /s/  D. Ramesh
    Babu

              	 
      
	
                Mr.
      D. Ramesh Babu

              	 
      
	 
      	 
      
	
                /s/  Sumati
      Rameshbabu

              	 
      
	
                Ms.
      Sumati Rameshbabu

              	 
      
	 
      	 
      
	
                For
      and on behalf of:

              	 
      
	
                Nandha
      Energy Limited

              	 
      
	 
      	 
      
	
                /s/  Natarajan
      Nandagopal

              	 
      
	
                Name:

              	 
      
	
                Title:

              	 
      

      

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

      

      
        	
                For
      and on behalf of:

              	 
      
	
                Clenergen
      India Private Limited

              	 
      
	 
      	 
      
	
                /s/  Mark Quinn

              	 
      
	
                Name:
      Mr. Mark Quinn

              	 
      
	
                Title: Director

              	 
      

      

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      SCHEDULE
I

       

      SELLING
SHAREHOLDERS

       

      
        	
                 
      

              	
                1.

              	
                Mr.
      M. Nandagopal, a resident of India

              

      

      
        	
                 
      

              	
                2.

              	
                Mr.
      Natarajan Nandagopal, a resident of
India

              

      

      
        	
                 
      

              	
                3.

              	
                Mr.
      Arvind Nandagopal, a resident of
India

              

      

      
        	
                 
      

              	
                4.

              	
                Ms.
      Madhaneshwari Nandagopal, a resident of
India

              

      

      
        	
                 
      

              	
                5.

              	
                Ms.
      Shoba Natrajan, a resident of India

              

      

      
        	
                 
      

              	
                6.

              	
                Ms.
      Sindhura Arvind, a resident of
India

              

      

      
        	
                 
      

              	
                7.

              	
                Mr.
      D. Ramesh Babu, a resident of India

              

      

      
        	
                 
      

              	
                8.

              	
                Ms.
      Sumati Rameshbabu, a resident of
India

              

      

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

      SCHEDULE
II

       

      SALE
SHARES

       

      
        
          
            
              
                
                  
                    	
                            Serial

                            No.

                          	 	
                            Selling Shareholder

                          	 	
                            Number of Equity Shares

                            Transferred

                          	 	 	
                            Purchase Price (in Rs.)

                          	 
	
                            1.

                          	 	
                            Mr.
      M. Nandagopal

                          	 	 	50,001	 	 	 	591,611.83	 
	
                            2.

                          	 	
                            Mr.
      Natarajan Nandagopal

                          	 	 	101	 	 	 	1,198.31	 
	
                            3.

                          	 	
                            Mr.
      Arvind Nandagopal

                          	 	 	101	 	 	 	1,198.31	 
	
                            4.

                          	 	
                            Ms.
      Madhaneshwari Nandagopal

                          	 	 	101	 	 	 	1,198.31	 
	
                            5.

                          	 	
                            Ms.
      Shoba Natrajan

                          	 	 	101	 	 	 	1,198.31	 
	
                            6.

                          	 	
                            Ms.
      Sindhura Arvind

                          	 	 	101	 	 	 	1,198.31	 
	
                            7.

                          	 	
                            Mr.
      D. Ramesh Babu

                          	 	 	101	 	 	 	1,198.31	 
	
                            8.

                          	 	
                            Ms.
      Sumati Rameshbabu

                          	 	 	101	 	 	 	1,198.31	 
	 
      	 	
                            Total

                          	 	 	50,708	 	 	 	600,000	 

                  

                

              

            

          

        

      

      
        
           

        

        
          19Stock Purchase
Agreement

    

    THIS STOCK PURCHASE AGREEMENT
(this “Agreement”) is made effective as of
the   17   day of   June , 2010, by
and among  Molly Blaszczak (being herein referred to as the “Seller”),
Spartan Business Services Corporation., a Nevada corporation (“Spartan”) and 
Reno Calabrigo    (being herein referred to as “Purchaser”).

    

    PRELIMINARY
STATEMENTS

    

    
      	
               
      

            	
              A.

            	
              Seller
      is an individual owning an aggregate of 10,000,000 shares of common stock
      of Spartan and is willing to sell 10,000,000 shares of common stock of
      Spartan (the “Common Stock”).

            

    

    

    
      	
               
      

            	
              B.

            	
              Seller
      desire to sell the Common Stock to Purchaser, and Purchaser desires to
      purchase the Common Stock from Seller, on the terms, provisions and
      conditions set forth herein.

            

    

    

    NOW, THEREFORE, in
consideration of the mutual agreements contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Seller and Purchaser do hereby agree as follows:

    

    ARTICLE
I

    

    Purchase and Sale of the
Common Stock

    

    Section 1.01.  Purchase and
Sale.  On the Closing Date and upon the terms and subject to
the conditions set forth herein, the Seller shall deliver 10,000,000 shares of
Spartan Common Stock to the Purchaser free and clear of all liens, and Purchaser
shall purchase the Common Stock from the Seller in accordance with Section 1.02
below.

    

    Section 1.02.  Purchase
Price.  The purchase price (the “Purchase
Price”) for the
Common Stock is $5,000.00

    

    Section 1.03.  Time and Place of
Closing.  Subject to the satisfaction or waiver of the
conditions herein, the closing (the “Closing”) of the transactions
contemplated by this Agreement shall take place on or before June 17, 2010 or at such time, date or place as Seller and Purchaser may
agree.

    

    Section 1.04.  Delivery of the Common
Stock; Payment of Purchase Price.  At Closing:  (a)
the Seller shall deliver to the Purchaser the certificate(s) representing the
Common Stock, duly endorsed in blank or accompanied by stock powers duly
endorsed in blank, with all taxes attributable to the transfer and sale of the
Common Stock paid by the Seller; and (b) the Purchaser shall deliver to the
Seller Purchase Price in accordance with Section 1.02.

     

    
      
         

      

      
        
          Page
1 of 10 

          Stock
Purchase Agreement

        

        
          

        

      

      
         

      

    

     

    ARTICLE
II

    

    Representations and
Warranties of Seller and Spartan

    

    Subject to all of the terms, conditions
and provisions of this Agreement, the Sellers and Spartan hereby represent and
warrant to Purchaser, as of the date hereof and as of the Closing, as
follows:

    

    Section 2.01.  Organization and
Qualification.  Spartan is a Nevada corporation duly organized,
validly existing and in good standing under the laws of the State of
Nevada.  Spartan has all requisite power and authority, corporate or
otherwise, to own, lease and operate its assets and properties and to carry on
its business as now being conducted.  Spartan does not have any
subsidiaries or predecessor corporations.

    

    Section 2.02.  Capitalization of Spartan;
Title to the Common Stock.  There are 70,000,000 shares of
common stock authorized of Spartan, of which approximately 14,000,000 shares of
common stock are issued and outstanding, $0.001 par value per
share.  All of the outstanding shares of common stock have been duly
authorized and validly issued, are fully paid and non assessable and are free of
preemptive rights.  The Common Stock transferred by the Seller to
Purchaser will be free and clear of liens.  There are no outstanding
or authorized subscriptions, options, warrants, calls, rights or other similar
contracts, including rights of conversion or exchange under any outstanding debt
or equity security or other contract, to which any of the Common Stock will be
subject or obligating the Seller and/or Spartan to issue, deliver or sell, or
cause to be issued, delivered or sold, any other shares of capital stock of
Spartan  or any other debt or equity securities convertible into or
evidencing the right to subscribe for any such shares of capital stock or
obligating the Seller and/or Spartan to grant, extend or enter into any such
contract.  There are no voting trusts, proxies or other contracts to
which Seller and/or Spartan are a party or are bound with respect to the voting
of any shares of capital stock of Spartan.  The Seller has full legal
right to sell, assign and transfer the Common Stock to Purchaser and will, upon
payment for the Common Stock and delivery to Purchaser of a certificate or
certificates representing the Common Stock, transfer good and indefeasible title
to the Common Stock to Purchaser, free and clear of liens.

    

    Section 2.03.  Authority.  The
Seller has all requisite power and authority, corporate or otherwise, to execute
and deliver this Agreement and to consummate the transactions contemplated
hereby and thereby.  The Seller and Spartan have duly and validly
executed and delivered this Agreement and will, on or prior to the Closing,
execute, such other documents as may be required hereunder and, assuming the due
authorization, execution and delivery of this Agreement by the parties hereto
and thereto, this Agreement constitutes, the legal, valid and binding obligation
of the Seller and Spartan, as applicable, enforceable against the Seller and
Spartan, as applicable, in accordance with its terms, except as such enforcement
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors’ rights generally and general equitable
principles.

    

    Section 2.04.  No
Conflict.  The execution and delivery by the Seller and Spartan
of this Agreement and the consummation of the transactions contemplated hereby
and thereby, do not and will not, by the lapse of time, the giving of notice or
otherwise:  (a) constitute a violation of any law; (b) constitute a
breach or violation of any provision contained in the Articles of Incorporation
or Bylaws of Spartan; (c) constitute a breach of any provision contained in, or
a default under, any governmental approval, any writ, injunction, order,
judgment or decree of any governmental authority or any contract to which the
Seller and/or Spartan are a party; or (d) result in or require the creation of
any lien upon the Common Stock.

    
       

      
        
           

        

        
          
            Page 2
of 10 

            Stock
Purchase Agreement

          

          
            

          

        

        
           

        

      

       

    

    Section 2.05.  Consents and
Approvals.  No governmental approvals and no notifications,
filings or registrations to or with any governmental authority or any other
person is or will be necessary for the valid execution and delivery by the
Seller and/or Spartan of this Agreement or the consummation of the transactions
contemplated hereby or thereby, or the enforceability hereof or thereof, other
than those which have been obtained or made and are in full force and
effect.

    

    Section 2.06.  Litigation.  There
are no claims pending or, to the knowledge of the Seller and Spartan, threatened
against or affecting Spartan or any of its assets and properties before or by
any governmental authority or any other person.  The Seller and
Spartan have no knowledge of the basis for any claim, which alone or in the
aggregate:  (a) could reasonably be expected to result in any
liability with respect to Spartan; or (b) seeks to restrain or enjoin the
execution and delivery of this Agreement or the consummation of any of the
transactions contemplated hereby or thereby.  There are no judgments
or outstanding orders, injunctions, decrees, stipulations or awards against
Spartan or any of its assets and properties.

    

    Section 2.07.  Brokers, Finders and
Financial Advisors.  No broker, finder or financial advisor has
acted for Seller in connection with this Agreement or the transactions
contemplated hereby or thereby, and no broker, finder or financial advisor is
entitled to any broker’s, finder’s or financial advisor’s fee or other
commission in respect thereof based in any way on any contract with
Seller.

    

    Section 2.08.  Disclosure.  The
schedules, documents, exhibits, reports, certificates and other written
statements and information furnished by or on behalf of Seller and/or Spartan to
the Purchaser do not contain any material misstatement of fact or, to the
knowledge of Seller and Spartan, omit to state a material fact necessary in
order to make the statements contained therein, in light of the circumstances
under which they were made, not misleading.  Seller and Spartan have
not withheld any fact known to them which has or is reasonably likely to have a
material adverse effect with respect to Spartan.

    

    Section 2.09.  Ownership.  The
Seller represents and warrants that Seller owns 10,000,000 shares of common
stock of Spartan that are subject to this Agreement.

    

    ARTICLE
III

    

    Representations and
Warranties of Purchaser

    

    Subject to all of the terms, conditions
and provisions of this Agreement, Purchaser hereby represents and warrants to
the Seller, as of the date hereof and as of the Closing, as
follows:

    
       

      
        
           

        

        
          
            Page 3
of 10 

            Stock
Purchase Agreement

          

          
            

          

        

        
           

        

      

       

      Section
3.01.  Authority.  Purchaser
has all requisite power and authority to execute and deliver this Agreement and
to consummate the transactions contemplated hereby and
thereby.  Purchaser has duly and validly executed and delivered this
Agreement and, assuming the due authorization, execution and delivery of this
Agreement by the other parties hereto and thereto, this Agreement constitutes
the legal, valid and binding obligation of Purchaser, enforceable against
Purchaser in accordance with its terms, except as such enforcement may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting creditors’ rights generally and general equitable
principles.

    

    

    Section 3.02.  No
Conflict.  The execution and delivery by Purchaser of this
Agreement and the consummation of the transactions contemplated hereby and
thereby do not and shall not, by the lapse of time, the giving of notice or
otherwise:  (a) constitute a violation of any law; or (b) constitute a
breach of any provision contained in, or a default under, any governmental
approval, any writ, injunction, order, judgment or decree of any governmental
authority or any contract to which Purchaser is a party or by which Purchaser is
bound or affected.

    

    Section 3.03.  Consents and
Approvals. No governmental approvals and no notifications, filings or
registrations to or with any governmental authority or any other person is or
will be necessary for the valid execution and delivery by Purchaser of this
Agreement and the closing documents to which it is a party, or the consummation
of the transactions contemplated hereby or thereby, or the enforceability hereof
or thereof, other than those which have been obtained or made and are in full
force and effect.

    

    Section 3.04.  Litigation.  There
are no claims pending or, to the knowledge of Purchaser, threatened, and
Purchaser has no knowledge of the basis for any claim, which either alone or in
the aggregate, seeks to restrain or enjoin the execution and delivery of this
Agreement or the consummation of any of the transactions contemplated hereby or
thereby.  There are no judgments or outstanding orders, injunctions,
decrees, stipulations or awards against Purchaser which prohibits or restricts,
or could reasonably be expected to result in any delay of, the consummation of
the transactions contemplated by this Agreement.

    

    Section 3.05.  Brokers, Finders and
Financial Advisors.   No broker, finder or financial
advisor has acted for Purchaser in connection with this Agreement or the
transactions contemplated hereby or thereby, and no broker, finder or financial
advisor is entitled to any broker’s, finder’s or financial advisor’s fee or
other commission in respect thereof based in any way on any contract with
Purchaser.

    

    ARTICLE
IV

    

    Covenants

    

    Section 4.01.  Further
Assurances.  Seller, Spartan and Purchaser agree that, from
time to time, whether before, at or after the Closing, each of them will take
such other action and to execute, acknowledge and deliver such contracts, deeds,
or other documents (a) as may be reasonably requested and necessary or
appropriate to carry out the purposes and intent of this Agreement; or (b) to
effect or evidence the transfer to the Purchaser of the Common Stock held by or
in the name of the Seller.

    
       

      
        
           

        

        
          
            Page 4
of 10 

            Stock
Purchase Agreement

          

          
            

          

        

        
           

        

      

    Section 4.02.  Conduct of
Business.  Except as otherwise contemplated by this Agreement,
after the date hereof and prior to the Closing or earlier termination of this
Agreement, unless Purchaser shall otherwise agree in writing, Spartan
shall

    

    (a)           not
take or perform any act or refrain from taking or performing any act which would
have resulted in a breach of the representations and warranties set forth in
Article II;

    

    (b)           not
enter into any agreement, or extend an existing agreement that will survive
after the Closing;

    

    (c)           not
sell, pledge, lease, license or otherwise transfer any of their assets or
properties or make any payments or distributions to Spartan or any of its
affiliates; and

    

    (d)           not
make any payments or distributions of assets or properties to Spartan or its
shareholders.

    

    Prior to
the Closing, Spartan shall exercise, consistent with the terms and conditions of
this Agreement, complete control and supervision of its operations.

    

    Section 4.03.  Public
Announcements.  Except as required by law, without the prior
written approval of the other party, neither Seller, Spartan nor Purchaser will
issue, or permit any agent or affiliate thereof to issue, any press release or
otherwise make or permit any agent or affiliate thereof to make, any public
statement or announcement with respect to this Agreement or the transactions
contemplated hereby and thereby.

    

    ARTICLE
V

    

    Conditions

    

    Section 5.01.  Conditions to Obligations of
each of the Parties.  The respective
obligations of each party to consummate the transactions contemplated hereby
shall be subject to the fulfillment at or prior to the Closing of the following
conditions: (a) no preliminary or permanent injunction or other order, decree or
ruling which prevents the consummation of the transactions contemplated by this
Agreement shall have been issued and remain in effect; (b) no claim shall have
been asserted, threatened or commenced and no law shall have been enacted,
promulgated or issued which would reasonably be expected to (i) prohibit the
purchase of, payment for or retention of the Common Stock by Purchaser or the
consummation of the transactions contemplated by this Agreement or (ii) make the
consummation of any such transactions illegal; and (c) all approvals legally
required for the consummation of the transactions contemplated by this Agreement
shall have been obtained and be in full force and effect at the
Closing.

    

    Section 5.02.  Conditions to Obligations of
Seller.  The
obligations of Seller to consummate the transactions contemplated hereby shall
be subject to the fulfillment at or prior to the Closing Date of the following
additional conditions, except as Seller may waive in writing: (a) Purchaser
shall have complied with and performed in all material respects all of the
terms, covenants, agreements and conditions contained in this Agreement which
are required to be complied with and performed on or prior to Closing; and (b)
the representations and warranties of Purchaser in this Agreement shall have
been true and correct on the date hereof or thereof, as applicable, and such
representations and warranties shall be true and correct on and at the Closing
(except those, if any, expressly stated to be true and correct at an earlier
date), with the same force and effect as though such representations and
warranties had been made on and at the Closing.

    
       

      
        
           

        

        
          
            Page 5
of 10 

            Stock
Purchase Agreement

          

          
            

          

        

        
           

        

      

    Section 5.03.  Conditions to Obligations of
Purchaser.  The obligations of Purchaser to consummate the
transactions contemplated hereby shall be subject to the fulfillment at or prior
to Closing of the following additional conditions, except as Purchaser may waive
in writing: (a) the Seller and Spartan shall have complied with and performed in
all material respects all of the terms, covenants, agreements and conditions
contained in this Agreement which are required to be complied with and performed
on or prior to Closing; and (b) the representations and warranties of Seller and
Spartan in this Agreement shall have been true and correct on the date hereof or
thereof, as applicable, and such representations and warranties shall be true
and correct on and at the Closing (except those, if any, expressly stated to be
true and correct at an earlier date), with the same force and effect as though
such representations and warranties had been made on and at the
Closing.

    

    ARTICLE
VI

    

    Indemnification

    

    Section 6.01.  Indemnification of
Seller.  Subject to the terms and conditions of this Article
VI, Purchaser agrees to indemnify, defend and hold harmless Seller, from and
against any and all claims, liabilities and losses which may be imposed on,
incurred by or asserted against, arising out of or resulting from, directly or
indirectly:

    

    (a)           the
inaccuracy of any representation or breach of any warranty of Purchaser
contained in or made pursuant to this Agreement which was not disclosed to
Seller in writing prior to the Closing; provided that no such
notification shall be deemed to waive or abrogate any right of Seller with
respect to conditions to Closing in Section 5.02;

    

    (b)           the
breach of any covenant or agreement of Purchaser contained in this Agreement;
or

    

    (c)           any
claim to fees or costs for alleged services by a broker, agent, finder or other
person claiming to act in a similar capacity at the request of Purchaser in
connection with this Agreement;

    

    provided, however, that
Purchaser shall not be liable for any portion of any claims, liabilities or
losses resulting from a material breach by Seller, of any of its obligations
under this Agreement or from Seller’s gross negligence, fraud or willful
misconduct.

    
       

      
        
           

        

        
          
            Page 6
of 10 

            Stock
Purchase Agreement

          

          
            

          

        

        
           

        

      

    Section 6.02.  Indemnification of
Purchaser.  Subject to the terms and conditions of this Article
VI, from and after the Closing, Seller, agrees to indemnify, defend and hold
harmless the Purchaser, its respective affiliates, its respective present and
former directors, officers, shareholders, employees and agents and its
respective heirs, executors, administrators, successors and assigns (the “Purchaser
Indemnified Persons”), from and against any and all claims, liabilities
and losses which may be imposed on, incurred by or asserted against any
Purchaser Indemnified Person, arising out of or resulting from, directly or
indirectly:

    

    (a)           the
inaccuracy of any representation or breach of any warranty of the Seller or
Spartan contained in or made pursuant to this Agreement which was not disclosed
to Purchaser in writing prior to the Closing; provided that no such
notification shall be deemed to waive or abrogate any right of Purchaser with
respect to conditions to Closing in Section 5.03;

    

    (b)           the
breach of any covenant or agreement of Seller or Spartan contained in this
Agreement;

    

    (c)           the
conduct of the business of Spartan prior to the Closing; or

    

    (d)           any
claim to fees or costs for alleged services rendered by a broker, agent, finder
or other person claiming to act in a similar capacity at the request of the
Seller in connection with this Agreement;

    

    provided, however, that
Seller and Spartan shall not be liable for any portion of any claims,
liabilities or losses resulting from a material breach by Purchaser of its
obligations under this Agreement or from a Purchaser Indemnified Person’s gross
negligence, fraud or willful misconduct.

    

    ARTICLE
VII

    

    Miscellaneous

     

    Section 7.01.  Notices.  Any
and all notices, requests or other communications hereunder shall be given in
writing and delivered by: (a) regular, overnight or registered or certified mail
(return receipt requested), with first class postage prepaid; (b) hand delivery;
(c) facsimile transmission; or (d) overnight courier service, to the parties at
the following addresses or facsimile numbers:

     

    
      	
              (i)
      if to Seller, to:

            	
              Molly
      Blaszczak

            
	 
      	
              2200
      Timber Rose Drive

            
	 
      	
              Las
      Vegas, Nevada

            
	 
      	
              89134

            
	 
      	 
      
	      
              (ii)
      if to Purchaser, to:

            	
              Reno
      Calabrigo

            

    

    
       

      
        
           

        

        
          
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or at
such other address or number as shall be designated by either of the parties in
a notice to the other party given in accordance with this Section
7.01.  Except as otherwise provided in this Agreement, all such
communications shall be deemed to have been duly given: (A) in the case of a
notice sent by regular or registered or certified mail, three business days
after it is duly deposited in the mails; (B) in the case of a notice delivered
by hand, when personally delivered; (C) in the case of a notice sent by
facsimile, upon transmission subject to telephone confirmation of receipt; and
(D) in the case of a notice sent by overnight mail or overnight courier service,
the next business day after such notice is mailed or delivered to such courier,
in each case given or addressed as aforesaid.

    

    Section 7.02.  Benefit and
Burden.  This Agreement shall inure to the benefit of, and
shall be binding upon, the parties hereto and their successors and permitted
assigns.

    

    Section 7.03.  No Third Party
Rights.  Nothing in this Agreement shall be deemed to create
any right in any creditor or other person not a party hereto (other than the
Purchaser Indemnified Persons) and this Agreement shall not be construed in any
respect to be a contract in whole or in part for the benefit of any third party
(other than the Purchaser Indemnified Persons).

    

    Section 7.04.  Amendments and
Waiver.  No amendment, modification, restatement or supplement
of this Agreement shall be valid unless the same is in writing and signed by the
parties hereto.  No waiver of any provision of this Agreement shall be
valid unless in writing and signed by the party against whom that waiver is
sought to be enforced.

    

    Section 7.05.  Assignments.  Purchaser
cannot assign any of its rights, interests and obligations under this
Agreement.

    

    Section 7.06.  Counterparts.  This
Agreement may be executed in counterparts and by the different parties in
separate counterparts, each of which when so executed shall be deemed an
original and all of which taken together shall constitute one and the same
agreement.

    

    Section 7.07.  Captions and
Headings.  The captions and headings contained in this
Agreement are inserted and included solely for convenience and shall not be
considered or given any effect in construing the provisions hereof if any
question of intent should arise.

    

    Section 7.08.  Construction.  The
parties acknowledge that each of them has had the benefit of legal counsel of
its own choice and has been afforded an opportunity to review this Agreement
with its legal counsel and that this Agreement shall be construed as if jointly
drafted by the parties hereto.

    

    Section 7.09.  Severability.  Should
any clause, sentence, paragraph, subsection, Section or Article of this
Agreement be judicially declared to be invalid, unenforceable or void, such
decision will not have the effect of invalidating or voiding the remainder of
this Agreement, and the parties agree that the part or parts of this Agreement
so held to be invalid, unenforceable or void will be deemed to have been
stricken herefrom by the parties, and the remainder will have the same force and
effectiveness as if such stricken part or parts had never been included
herein.

    
       

      
        
           

        

        
          
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    Section 7.10.  Remedies.  The
parties agree that the covenants and obligations contained in this Agreement
relate to special, unique and extraordinary matters and that a violation of any
of the terms hereof or thereof would cause irreparable injury in an amount which
would be impossible to estimate or determine and for which any remedy at law
would be inadequate.  As such, the parties agree that if either party
fails or refuses to fulfill any of its obligations under this Agreement or to
make any payment or deliver any instrument required hereunder or thereunder,
then the other party shall have the remedy of specific performance, which remedy
shall be cumulative and nonexclusive and shall be in addition to any other
rights and remedies otherwise available under any other contract or at law or in
equity and to which such party might be entitled.

    

    Section 7.11.  Applicable
Law.  THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
PROVINCE  OF ONTARIO, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW
PRINCIPLES THEREOF.

    

    Section 7.12.  Submission to
Jurisdiction.  Each of the parties hereby: (a) irrevocably
submits to the non-exclusive personal jurisdiction of any Ontario court, over
any claim arising out of or relating to this Agreement and irrevocably agrees
that all such claims may be heard and determined in such Ontario court; and (b)
irrevocably waives, to the fullest extent permitted by applicable law, any
objection it may now or hereafter have to the laying of venue in any proceeding
brought in a Ontario court.

    

    Section 7.13.  Expenses; Prevailing Party
Costs.  The Seller, Spartan, and Purchaser shall pay their own
expenses incident to this Agreement and the transactions contemplated hereby and
thereby, including all legal and accounting fees and disbursements, and Seller
shall be solely liable for any and all expenses of the Seller and/or Spartan
which are incident to this Agreement and the transactions contemplated hereby
and thereby (other than customary general, administrative and overhead expenses
incurred in the ordinary course of business).  Notwithstanding
anything contained herein or therein to the contrary, if any party commences an
action against another party to enforce any of the terms, covenants, conditions
or provisions of this Agreement, or because of a breach by a party of its
obligations under this Agreement, the prevailing party in any such action shall
be entitled to recover its losses, including reasonable attorneys’ fees,
incurred in connection with the prosecution or defense of such action, from the
losing party.

    

    Section 7.14.  Entire
Agreement.  This Agreement sets forth all of the promises,
agreements, conditions, understandings, warranties and representations among the
parties with respect to the transactions contemplated hereby and thereby, and
supersedes all prior agreements, arrangements and understandings between the
parties, whether written, oral or otherwise.

    

    Section 7.15.  Faxed
Signatures.  For purposes of this Agreement, a faxed signature
shall constitute an original signature.

    

    

    [Remainder
of page left intentionally blank.  Signature page to
follow.]

    

    
       

      
        
           

        

        
          
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    IN WITNESS WHEREOF, the
parties have duly executed this Agreement as of the day and year first above
written.

    

    
      	 
      	
              “SELLER”

            
	 
      	 
      
	 
      	
              By:
      /s/ Molly Blaszczak

            
	 
      	
                    
                ____________________________

              

            
	 
      	
              Molly
      Blaszczak

            
	 
      	
              Number
      of shares: 10,000,000

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
              “Spartan”

            
	 
      	
              Spartan
      Business Services Corporation

            
	 
      	 
      
	 
      	
              By:
      /s/ Reno Calabrigo

            
	 
      	      
              ____________________________

            
	 
      	
              Reno
      Calabrigo

            
	 
      	
              President

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
            	      
              “PURCHASER”

            
	 
      	 
      
	 
      	
              By:
      /s/ Reno Calabrigo

            
	 
      	
              ____________________________

            
	 
      	
              Reno
      Calabrigo

            

    

    

    
       

      
        
           

        

        
          
            Page 10
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