Document:

Warrent Cancellation Agreement

 Exhibit 10.15 
 WARRANT CANCELLATION AGREEMENT 
 This Warrant Cancellation Agreement (this “Agreement”) is
made as of January 4, 2007 by and among Trans-India Acquisition Corporation, a Delaware corporation (the “Company”), Marillion Pharmaceuticals India Pvt. Ltd., Business Ventures Corp., Bobba Venkatadri, Nalluru Murthy, Craig P.
Colmar, Narayanan Vaghul, Edmund Olivier and Rasheed Yar Khan (each an existing stockholder of the Company and collectively, the “Holders”). 
 WHEREAS, Rasheed Yar Khan entered into a subscription agreement with the Company on July 28, 2006 and the remaining Holders entered into a subscription agreement with the Company on June 28, 2006 (together,
the “Subscription Agreements”), wherein the Holders subscribed to a certain number of units, each unit consisting of one share of common stock, $0.0001 par value per share, of the Company (“Common Stock”) and one warrant (the
“Warrants”) to purchase one share of Common Stock, and such shares of Common Stock and Warrants are outstanding. 
 WHEREAS, in
connection with the proposed initial public offering of securities by the Company, the Holders have agreed to cancel their Warrants. 
 NOW
THEREFORE, in consideration of the premises, covenants and agreements of the parties herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party, the parties hereby
covenant and agree as follows: 
 1. Cancellation of Warrants. The Company and each of the Holders hereby agree to the cancellation of the Warrants and
the Holders hereby waive any and all rights under the Subscription Agreements with respect to any warrants of the Company. 
 2. Counterparts. This
Agreement may be executed in any number of counterparts, including by facsimile, and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 3. Governing Law. This Agreement shall for all purposes be deemed to be made under and shall be construed in accordance with the laws of the State
of Delaware. 
 [Remainder of Page Intentionally Left Blank] 
  

 1 

 IN WITNESS WHEREOF, the parties have duly executed this Warrant Cancellation Agreement as of the date
first written above. 
  

			
	TRANS-INDIA ACQUISITION CORPORATION
		
	By:	 	 /s/ BOBBA VENKATADRI

	Name:	 	Bobba Venkatadri
	Title:	 	Chief Executive Officer
	
	MARILLION PHARMACEUTICALS INDIA PVT. LTD.
		
	By:	 	 /s/ RAMESH ALUR

	Name:	 	Ramesh Alur
	Title:	 	Authorized Officer
	
	BUSINESS VENTURES CORP.
		
	By:	 	 /s/ STEVEN P. COLMAR

	Name:	 	Steven P. Colmar
	Title:	 	President
		
		 	 /s/ BOBBA VENKATADRI

		 	Bobba Venkatadri
		
		 	 /s/ NALLURU MURTHY

		 	Nalluru Murthy
		
		 	 /s/ RASHEED YAR KHAN

		 	Rasheed Yar Khan
		
		 	 /s/ CRAIG COLMAR

		 	Craig Colmar
		
		 	 /s/ NARAYANAN VAGHUL

		 	Narayanan Vaghul
		
		 	 /s/ EDMUND OLIVIER

		 	Edmund Olivier

 [Signature Page to Warrant Cancellation Agreement]Letter Agreement

 EXHIBIT 10.16 
 January 4, 2007 
 Trans-India Acquisition Corporation 
 300 South Wacker Drive 
 Suite 1000 
 Chicago, IL 60606 
 I-Bankers Securities Incorporated 
 125 E. John Carpenter Freeway 
 Suite 260 
 Irving, TX
75062 
  

	 	Re:	Initial Public Offering 

 Ladies and Gentlemen: 
 The undersigned officer and/or director of Trans-India Acquisition Corporation (the “Company”), in consideration of I-Bankers Securities, Inc.
(the “Underwriter”) entering into a underwriting agreement to underwrite an initial public offering of the securities of the Company (“IPO”), and in recognition of the benefit that such IPO will confer upon the undersigned as a
stockholder of the Company, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, hereby agrees with the Company and the Underwriter as follows (certain capitalized terms used herein are defined
in paragraph 13 hereof): 
 1. Until a Business Combination is consummated by the Company, the undersigned agrees to vote all Insider Shares
beneficially owned by him in accordance with the majority of the votes cast by the holders of the IPO Shares in connection with the vote by the Company’s stockholders relating to the approval of any Business Combination. 
 2. The undersigned hereby waives his right to exercise conversion rights with respect to any shares of the Company’s common stock owned by the
undersigned, directly or indirectly, and agrees that he will not seek conversion with respect to such shares in connection with any vote to approve a Business Combination. 
 3. In the event that the Company fails to consummate a Business Combination within 18 months from the date (the “Effective Date”) of the
prospectus relating to the IPO (or 24 months from the Effective Date under the circumstances described in the prospectus relating to the IPO), the undersigned will take all reasonable actions within his power to cause the Company to proceed to
dissolve the Company in accordance with Delaware General Corporation Law and agrees to vote all Insider Shares and IPO Shares beneficially owned by him in favor of the dissolution and liquidation of the Company. The undersigned relinquishes and
waives any and all rights he may have to receive any distribution of cash, property or other assets as a result of such liquidation with respect to any Insider Shares beneficially owned by him upon the Company’s liquidation prior to a Business
Combination. 
  

 Trans-India Acquisition Corporation 
 I-Bankers Securities, Inc. 
 January 4, 2006 
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 4. In the event that the Company is unable to complete a Business Combination and is required to
liquidate the Company, the undersigned agrees to indemnify and hold harmless the Company, against any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of (i) any claim by any vendor or service provider who is owed
money by the Company for services rendered or products sold to the Company, or (ii) any claim by any acquisition target, but in each case only to the extent (a) such vendor, service provider, or acquisition target has not executed a waiver
of rights or claims to the Trust Fund, and (b) necessary to ensure that such loss, liability, claim, damage or expense does not reduce the amount in the Trust Account (or, in the event that such claim arises after the distribution of the Trust
Account, to the extent necessary to ensure that the Company’s former stockholders are not liable for any amount of such loss, liability, claim, damage or expense). For avoidance of doubt, the foregoing indemnification obligation of the
undersigned shall not apply to claims under the Company’s indemnification of the underwriters of the offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event the Company’s
assets held outside the Trust Account are insufficient to pay the costs and expenses of dissolution and liquidation of the Company, the undersigned agrees to indemnify and hold harmless the Company against such additional costs and expenses of
dissolution and liquidation, excluding any special, indirect or consequential costs or expenses, such as litigation pertaining to the Company’s dissolution and liquidation. 
 5. In order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to the Company for
its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire an operating business in the life sciences sector within India, until the earlier of the consummation by the Company of a Business
Combination, the liquidation of the Company due to the Company’s failure to consummate a Business Combination within 18 months of the Effective Date (or 24 months from the Effective Date under the circumstances described in the prospectus) or
until such time as the undersigned ceases to be an officer and/or director of the Company, subject to any pre-existing fiduciary obligations the undersigned has as of the date hereof. 
 6. The undersigned acknowledges and agrees that the undersigned will not permit the Company to consummate any Business Combination that involves a
company which is directly or indirectly affiliated with any of the Insiders, unless the Company obtains an opinion from an independent investment banking firm reasonably acceptable to the Underwriter that the Business Combination is fair to the then
holders of the IPO Shares from a financial perspective. 
 7. Neither the undersigned, any member of the family of the undersigned, nor any
affiliate of the undersigned will be entitled to receive and will not accept, directly or indirectly, any compensation for services rendered to the Company prior to the consummation of a Business Combination by the Company; provided that, commencing
on the Effective Date, Johnson and Colmar, a general partnership of which Craig Colmar is a partner (“Related Party”), shall be allowed to charge the Company $7,500 per month, to compensate it for certain administrative, technology and
secretarial services, as well as the use of certain limited office space in Chicago, 

 Trans-India Acquisition Corporation 
 I-Bankers Securities, Inc. 
 January 4, 2006 
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as may be required by the Company from time to time. The undersigned shall also be entitled to reimbursement from the Company for his reasonable
out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination. 
 8. Neither the undersigned, any member
of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive or accept, directly or indirectly, a finder’s fee or any other compensation in the event the undersigned, any member of the family of the
undersigned or any affiliate of the undersigned originates a Business Combination involving the Company. 
 9. The undersigned will escrow
his Insider Securities for a period ending on the consummation of a Business Combination, subject to the terms of a Securities Escrow Agreement which the Company will enter into with the undersigned and Continental Stock Transfer & Trust
Company, as escrow agent. 
 10. The undersigned agrees to serve as President and Chief Executive Officer and a member of the Board of
Directors until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s biographical information furnished to the Company and the Underwriter included in the Registration
Statement on Form S-1 is true and accurate in all respects, does not omit any material information with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Section 401 of
Regulation S-K promulgated under the Securities Act of 1933, as amended. The undersigned’s Directors’ and Officers’ Questionnaire executed by the undersigned in connection with the IPO, including any supplement or amendment thereto,
furnished to the Company and the Underwriter is and shall be true and accurate in all respects. The undersigned represents and warrants that: 
  

	 	a.	he is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating
to the offering of securities in any jurisdiction; 

  

	 	b.	he has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person,
or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and 

  

	 	c.	he has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied,
suspended or revoked. 

 11. The undersigned has full right and power, without violating any agreement by which he is bound or
pre-existing fiduciary obligation, to enter into this letter agreement and to serve as an officer and/or director of the Company. 
  

 Trans-India Acquisition Corporation 
 I-Bankers Securities, Inc. 
 January 4, 2006 
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 12. The undersigned authorizes any employer, financial institution, or consumer credit reporting
agency to release to the Underwriter and its legal representatives or agents (including any investigative search firm retained by the Underwriter) any information they may have about my background, credit history and finances (the
“Information”). Neither the Underwriter nor any of its agents shall be violating my right of privacy in any manner in requesting and obtaining the Information and the undersigned hereby releases them from liability for any damage
whatsoever in that connection. 
 13. As used herein, 
  

	 	i.	“Business Combination” shall mean an acquisition by merger, capital stock exchange, asset or stock acquisition, reorganization or otherwise, of an operating business;

  

	 	ii.	“Insiders” shall mean all officers, directors and stockholders of the Company immediately prior to the IPO; 

  

	 	iii.	“Insider Shares” shall mean all of the shares of common stock of the Company owned by all of the Insiders prior to the IPO, including the shares of common stock underlying
the units sold in the private placement immediately prior to the IPO; and 

  

	 	iv.	“Insider Securities” shall mean all units, shares of common stock and warrants of the Company owned by all of the Insiders prior to the IPO, including all units, shares of
common stock and warrants issued in the private placement immediately prior to the IPO; and 

  

	 	v.	“IPO Shares” shall mean the shares of Common Stock issued in the Company’s IPO, whether held by the initial purchaser or any subsequent transferee.

  

	 	vi.	“Trust Account” shall mean the Trust Account established under that certain Investment Management Trust Agreement between the Company and Continental Stock
Transfer & Trust Company. 

 14. This letter agreement represents the entire agreement with respect to the subject
matter hereof and supersedes any previous agreements. 
  

	
	Yours very truly,
	
	 /s/ BOBBA VENKATADRI

	Bobba Venkatadri

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