Document:

Exhibit 10.1

 

 

LICENSE
AGREEMENT

 

This
Agreement is made on this 28th day of December 2007 between the President
of India acting through Director
BBCL, Ministry of Information and Broadcasting, Government of India, Shastri Bhawan, New Delhi (hereinafter called the Licensor) of
the One Part and M/s Bharat Business
Channel Limited, a
company registered under the Companies Act, 1956 and having its
registered office at 171 Mittal Court, C-Wing, 17th Floor, Nariman Point, Mumbai 400021 (hereinafter called the Licensee which
expression shall unless repugnant to the context include, its successors in business, administrators, liquidators and
assignees or legal representatives) of the Other Part. 

 

WHEREAS
pursuant to the request of the Licensee, the Licensor has agreed to grant license to the Licensee under Section 4 of the Indian
Telegraph Act 1885, and the Indian Wireless Telegraphy Act, 1933 on the terms and conditions appearing hereinafter to establish,
maintain and operate Direct-to-Home (DTH) Platform and the Licensee has agreed to accept the same.

 

NOW
THIS AGREEMENT WITNESSETH AS UNDER:

 

	1.		Unless
otherwise mentioned in the subject or context appearing hereinafter,
the Schedule annexed hereto including the terms and conditions prescribed by the Ministry of Information and Broadcasting and
the terms and conditions of the Wireless Operational License to be issued by the Wireless Planning & Coordination Wing in
the Ministry of Communications
& Information Technology, Government of India shall form part and parcel of this License Agreement. Provided, however, in
base of conflict or variance or an issue relating to the same, the terms set
out in the main body of this Agreement read with all the Schedules annexed hereto shall prevail.

 

		

 

	 	 

 

    	 

    	 

    

 

 

	2.		The
Licensee will be subject to provisions of any legislation, which may be brought in future in regard to broadcasting.

 

IN
WITNESSTH WHEREOF the parties hereto have caused this Agreement to be executed through their respective authorized
representatives, the day, month and year as mentioned above.

 

	Signed Executed and Delivered on behalf 

of President of India	
	 	 
	by	 

 

Signed
Executed & Delivered on behalf of M/s Bharat Business Channel Limited by its holder of General Power of Attorney dated
3rd December 2007 executed in accordance with Board Resolution dated 26th November, 2007 by K.S. Hari
Kumar.

 

 

    	 

    	 

    

 

SCHEDULE TO FORM -
B

 

TERMS
AND CONDITIONS

 

ARTICLE-1

 

ELIGIBILITY
CONDITIONS

 

		1.1	The
Licensee company shall be an Indian company, registered under the Indian Companies Act, 1956.

 

		1.2	The
total Foreign Investment, including FDI/NRI/OCB/FII in the paid up equity of the Licensee Company, shall not be more than 49%.

 

		1.3	The
FDI component of the foreign equity in the total paid up equity of the Licensee Company shall not exceed 20%.

 

Explanation:
The quantum represented by that proportion of the paid up equity share capital to the total issued equity capital of the Indian
promoter Company, held or controlled by foreign investors through FDI/NRI/OCB investments, shall form part of the above said FDI
limit of 20%.

 

		1.4	The
Licensee shall not allow Broadcasting Companies and/or Cable Network Companies to collectively hold or own more than 20% of the
total paid up equity in its company at any time during the License period. The Licensee shall submit the equity distribution of
the Company in the prescribed proforma (Table I and II of Form-A) once within one month of start of every financial year. The Government
will also be able to call for details of equity holding of Licensee company at such times as considered necessary.

 

		1.5	The
Licensee company not to hold or own more than 20% equity share in a broadcasting and/or Cable Network Company. The Licensee shall
submit the details of investment made by the Licensee company every year once within one month of start of that financial year.
The Government will also be able to call for details of investment made by the Licensee company in the equity of other companies
at such times as considered necessary.

 

		1.6	The
applicant company shall always have Indian management control with majority representatives on the Board, as well as the Chief
Executive of the company being a resident Indian citizen.

 

		1.7	Any
change in the equity structure of the Licensee Company as well as amendment to shareholders agreement, wherever applicable, shall
only be carried out in consultation and with prior approval of the Licensor.

 

		

 

    	 

    	 

    

 

ARTICLE-2

 

TERM
OF LICENSE

 

		2.1	The
validity period of License shall be ten (10) years, on non-exclusive basis, and shall be reckoned from the date of issue of Wireless
Operational License by the WPC, unless terminated earlier for default or for insolvency or for convenience or for transfer of the
License.

 

		2.2	The
license shall not be transferred without prior approval of the Licensor.

 

ARTICLE-3

 

LICENSE
FEE

 

		3.1	The
                                         Licensee shall pay an initial non-refundable entry fee of Rs.10 crores before the issue
                                         of letter of intent to him by Licensor, and, after the issue of the Wireless Operational
                                         License by the Wireless Planning and Coordination (WPC) Wing of the Ministry of Communications,
                                         an annual fee equivalent to 10% of its gross revenue in that particular financial year
                                         in the manner detailed hereunder."

 

		3.1.1	Gross
Revenue for this purpose would the gross inflow of cash, receivable or other consideration arising in the course of ordinary activities
of the Direct to Home [DTH] enterprise from rendering of services and from the use by others of the enterprise resources yielding
rent, interest, dividend, royalties, commissions etc. Gross revenue shall, therefore, be calculated, without deduction of taxes
and agency commission, on the basis of billing rates, net of discounts to advertisers. Barter advertising contracts shall also
be included in the gross revenues on the basis of relevant billing rates. In the case of licensee providing or receiving goods
and service from other companies that are owned or controlled by the owners of the licensee, all such transactions shall be valued
at normal commercial rates and included in the profit and loss accounts of the licensee to calculate its gross revenue.

 

		3.1.2	Every
licensee shall maintain separate financial accounts for the channel, which shall be audited by the Statutory Auditors. At the end
of each financial year, the company shall provide the statement of gross revenue forming part of the final accounts of the licensee
as per the format in Form D, duly certified by the Statutory Auditors. It may be noted that the income heads specified in Form
D are only indicative and illustrative and the Auditor would include all the relevant heads qualifying for gross revenue whether
or not specifically included in the said format. In addition, the income from the Related Parlies shall have to tally with the
Related Parties schedule as per Accounting Standards no. 18. Besides, the company shall disclose the following information at the
end of each financial year, duly certified by the Statutory Auditor.

 

 

		

    	 

    	 

    

 

	i.	 	Total trade and other discounts.
	ii.	 	Total agency commission.
	iii.	 	Total Related party transaction.

 

		3.1.3	So
as to verify that the Gross Revenue is correctly disclosed to it, the Government of India shall have the right to get the accounts
of any licensee audited by CAG or any other professional auditors at its discretion. In case of difference between the Gross Revenue
determined by the Statutory Auditors and the Government appointed auditors, the views of the government appointed auditor, subject
to opportunity of hearing to the licensee shall prevail and the expenses on such audit shall be borne by the licensee.

 

3.1A.1
The First payment of Annual license fee for the financial year (FY) shall be made on the basis of provisional accounts for the
FY certified by the Statutory Auditors, within one month of the end of that FY.

 

3.1
A.2 Annual License fee for the FY shall be finally determined on the basis of final annual accounts of the FY audited by the
Statutory Auditors, which shall not be later than 30th September of the following FY. If the amount so determined is
found to be higher than the amount already deposited as per clause 3.1A.1, the difference amount along with simple interest @
1% per month on the difference for the period of delay calculated from 1st of May of the following FY upto and
including the date of such payment shall be paid in one lumpsum within a period of 15 days from the date of finalization of audited
accounts, or 15th October of the following FY whichever is earlier.

 

3.1A.3
Where the total annual fee deposited as per clause 3.1A.1 is more than the amount determined on the basis of audited accounts
of the FY, the difference may at the request of the licensee be adjustable against the annual licence fee due for the following
FY.

 

3.1A.4
In case any amount is to be deposited
by the licensee as per provisions of clause 3.1.3 it shall be deposited within 15 days
of such determination along with simple interest at the rate of 1% per month for the period from 1st May following the
FY for which such determination has been made, upto and including the date of payment.

 

		3.2	The
Licensee shall also in addition pay the license fee and royalty for the spectrum used as prescribed by Wireless Planning &
Coordination Authority (WPC), under the Department of Telecommunications,

 

		

 

    	 

    	 

    

 

ARTICLE-4

 

BANK
GUARANTEE

 

		4.1	The
Licensee shall, within one month of issual of SACFA clearance by W.P.C., submit to the Ministry of Information & Broadcasting,
a Bank Guarantee from any Scheduled Bank in Form-C for an amount of Rs.40 crores valid for the duration of the license.

 

		4.2	The
Licensor shall be at liberty to encash the Bank Guarantee in full or part in the event of non-payment of the license fee or violation
of any of the license condition.

 

ARTICLE-5

 

COMPLIANCE
WITH PROGRAMME AND ADVERTISING CODES

 

		5.1	The
Licensee shall ensure adherence to the Programme Code (PC) and Advertisement Code (AC), laid down by the Ministry of Information
& Broadcasting from time to time.

 

		5.2	The
Licensee shall invariably ensure that the subscribers of the service do not have access to any pornographic channel or to secret/
anti-national messaging and the like. If the Licensee fails to do so, the License shall stand cancelled.

 

ARTICLE-6

 

PROHIBITION
OF CERTAIN ACTIVITIES

 

		6.1	The
Licensee shall not carry any channels prohibited by the Ministry of Information & Broadcasting.

 

		6.2	The
Licensee shall ensure that its facilities are not used for transmitting any objectionable or obscene content, messages or communication
inconsistent with the laws of India. The use of the facility or service for anti national activities would be construed as an offence
punishable under the Indian Penal Code and applicable laws and will attract immediate termination of License.

 

		6.3	The
Licensor reserves the right to prohibit the transmission or reception of programmes in the interest of national security or in
the event of emergency/war or similar type of situation. Notwithstanding any agreement between the Licensee and the content providers,
the Licensee shall stop forthwith, transmission of TV channels or any content, as and when directed to do so by the Licensor or
any other designated lawful authority.

 

		

 

    	 

    	 

    

 

		6.4	Except
with prior approval of Licensor, the Licensee shall not either directly or indirectly assign or transfer its right in any manner
whatsoever under this Agreement to any other party or enter into any Agreement for sub-license and/ or partnership relating to
any subject matter of the License to any third party either in whole or in part. Any violation of the terms shall be construed
as breach of the License Agreement and License of the Licensee shall be terminated immediately.

 

		6.5	The
Licensee shall not carry the signals of a broadcaster against whom any regulatory body, tribunal or court have found the following:

 

(i) Refused
access on a non-discriminatory basis to another DTH operator contrary to the Regulations of TRAI

 

(ii) Violated
the provisions of any law relating to competition including the Competition Act.”

 

		6.6	The
Licensee shall not enter into any exclusive contract for distribution of TV Channels.

 

[Explanation:
It shall be the sole responsibility of the licensee to ascertain before carrying its signals on its platform whether any broadcaster(s)
has been found to be in violation of the above conditions or not. In respect of TV Channels already being carried on the platform,
the licensee shall ascertain from every source including the licensor, TRAI, Tribunal or a court, whether concerned broadcasters
or the channels is in violation of the above conditions. If any violation so comes to its notice, the licensee shall forthwith
discontinue to carry the channels of the said broadcaster]

 

		6.7	No
licensee shall carry or include in his DTH Service any television broadcast or channel which has not been registered by the Central
Government for being viewed within the territory of India.

 

Provided
that the licensee may continue to carry or include in his DTH Service any television broadcast or channel, which has made an application
for registration to the Central Government on or before the date of issue of this Order, for a period of six months from the date
of such Order or till such registration has been granted or refused, whichever is earlier.

 

Provided
further that TV Channels uplinking from India, in accordance with permission for uplinking granted before 2nd December 2005, shall
be treated as “registered” Television channels and can be carried or included in the DTH Service.

 

		

 

    	 

    	 

    

 

ARTICLE-7

 

TECHNICAL
STANDARDS AND OTHER OBLIGATIONS

 

		7.1	The
Open Architecture (non-proprietary) Set Top Box, which will ensure technical compatibility and effective interoperability among
different DTH service providers, shall have such specifications as laid down by the Government from time to time.

 

		7.2	The
Licensee shall ensure subscriber’s interests though a Conditional Access System (CAS), which is compatible with an open Architecture
(non-proprietary) Set Top Box.

 

		7.3	The
Licensee shall ensure subscriber's interests through a Subscriber Management System (SMS) for an efficient, responsive and accurate
billing and collection system.

 

		7.4	The
Licensee shall not use any equipment, which is identified as unlawful.

 

		7.5	All
content provided by the DTH platform to the subscribers, irrespective of its source, shall pass through the encryption and conditional
access system, located within the Earth Station, situated on Indian soil.

 

		7.6	The
Licensee shall provide access to various content providers/channels on a nondiscriminatory basis.

 

		7.7	The
Licensee shall adhere to any guidelines/regulations which may be laid down by the Licensor in the interest of consumer such as
pricing of bouquet(s) or tier(s) of channels, etc.

 

		7.8	The
licensee shall carry or include in his DTH Service the TV channels which have been notified for mandatory & compulsory carriage
as per the provisions of Section 8 of the Cable Television Networks (Regulation) Act, 1995 as amended, except for the regional
TV channels, failing which the licensor shall be at liberty to take action as per clause 20.1 of this agreement

 

Provided
further that the licensee shall carry other channels of Prasar Bharati not covered under this clause, on most favourable financial
terms offered to any other channel

 

ARTICLE-8

 

MONITORING
AND INSPECTION

 

		8,1	The
Licensee shall provide the necessary facility for continuous monitoring of the DTH broadcasting service at its own cost and maintain
the recordings of programmes and advertisements carried on the platform for a period of 90 days from the date of broadcast and
produce the same to the Licensor or its authorised representative, as and when required.

 

		

 

    	 

    	 

    

 

		8.2	The
Licensee shall furnish any such information at periodic intervals as may be required by the Licensor concerning Channels or content
being transmitted or provided under the service, technical parameters etc. in the format as may be prescribed by the Licensor from
time to time.

 

		8.3	Licensee
shall provide access to the Licensing Authority or its duly authorized representative, to all its facilities including equipments,
records, systems, etc.

 

		8.4	The
Licensee will, if required by the Licensor or its authorised representative, provide necessary facilities for continuous monitoring
for any particular aspect of the Licensee’s activities and operations.

 

		8.5	The
Licensor will ordinarily carry out the inspection after reasonable notice except
in circumstances where giving such a notice will defeat the very purpose of the inspection.

 

ARTICLE-9

 

NATIONAL
SECURITY AND OTHER CONDITIONS

  

		9.1	The
Licensor reserves the right to take over the entire services and networks of the Licensee or revoke / cancel / suspend the License
in the interest of national security or in the event of an emergency / war or low intensity conflict or similar type of situations.
Further, the Licensor reserves the right to direct the Licensee to close down the service if implications of security so requires.
Any specific order or direction from the Government issued in this regard shall be strictly complied with by the Licensee.

 

		9.2	The
Licensee shall not use any equipment, which are identified as unlawful and/or
render network security vulnerable.

 

		9.3	All
foreign personnel likely to be deployed by way of appointment, contract, consultancy,
etc. by the Licensee for installation, maintenance and operation of the Licensee’s services shall be required to obtain security
clearance from the Government of India prior to their deployment. 

 

ARTICLE-10

 

VALUE ADDED
SERVICES

 

		10.1	The
DTH facility shall not be used for other modes of communication, including voice, fax, data, communication, Internet, etc. unless
specific

 

		

 

    	 

    	 

    

 

		12.4	The
Wireless and Planning Coordination Wing shall have the right to inspect, from time to time, the installation with a view to ensuring
conformity with the WPC’s license.

 

		12.5	The
Licensee shall not cause harmful interference to other authorized users of
radio spectrum. WPC Wing will have the sole discretion to take practicable and necessary steps for elimination of harmful interference,
if any, to other licensed users.

 

		12.6	The
Licensee shall furnish to the WPC Wing the full technical and operational details of TV channels and other channels proposed to
be uplinked through his/her Hub/Teleport in the prescribed format.

 

ARTICLE-13

 

COMMISSIONING
OF DTH PLATFORM

 

		13.1	The
Licensee shall establish and complete the installation of the uplink earth station in India including the monitoring facility etc.
and commission the DTH Platform within twelve months from the date of issue of the SACFA clearance by the WPC after obtaining wireless
operational license and would submit a report to the Licensor in this regard.

 

ARTICLE-14

 

REQUIREMENT
TO FURNISH INFORMATION TO THE LICENSOR

 

		14.1	The
Licensee shall furnish to the Licensor, such information at periodic intervals or at such times as the Licensor may require, including,
but, not limited to, documents, reports, accounts, estimates, returns or other information such as change in Chief Executive, Board
of Directors, equity holding pattern etc.

 

ARTICLE-15

 

TERMINATION
OF LICENSE

 

		15.1	Notwithstanding
any other recourse under the terms and conditions of the license or any other law, the Licensor shall have the power, after recording
the reasons in writing, to revoke/suspend the license in the event of breach of any terms and conditions of the license. However,
before taking such action the licensing authority will give the Licensee an opportunity of being heard. The decision of the licensing
authority shall be final.

 

		

 

    	 

    	 

    

 

license
for these value-added services has been obtained from the competent authority.

 

ARTICLE-11

 

PREFERENCE
TO INDIAN SATELLITES AND INTERSYSTEM COORDINATION

 

		11.1	Though
Licensee can use the bandwidth capacity for DTH service on both Indian as well as foreign satellites, proposals envisaging use
of Indian satellites will be extended preferential treatment.

 

		11.2	The
Licensee shall ensure that its operation will conform to the provisions of inter-system co-ordination agreement between INSAT and
the satellite being used by the Licensee.

 

ARTICLE
12

 

WPC
WING’S LICENSE

 

		12.1	A
separate specific operational license shall be required from the WPC Wing of Ministry of Communications and Information Technology
for establishment, maintenance & operation of the DTH platform/facility under usual terms and conditions of that license. Grant
of WPC operational license will be governed by normal rules, procedures and guidelines and will be subject to completion of all
formalities. As may be prescribed by the Wireless Planning Coordination (WPC) Wing, the Ministry of Communications and Information
Technology for this purpose, an application shall be made to the “Wireless Advisor to the Government of India, WPC Wing,
Ministry of Communications and Information Technology, Dak Bhavan, Parliament Street, New Delhi-110001” in a prescribed application
form available from WPC Wing within one month from the date of signing of this agreement.

 

		12.2	The
Licensee shall obtain clearances/approvals, as may be prescribed or required, from the Wireless Planning Coordination Wing or from
the Department of Space.

 

		12.3	The
Wireless Planning & Coordination (WPC) Wing of the Department of Telecommunications, Ministry of Communications and Information
Technology shall issue SACFA clearance to the Licensee as soon as possible after receiving the application the same and shall grant
the final Wireless Operational License, after signing of this agreement, subject to fulfillment of the necessary terms and conditions
including installation of equipment etc. as may be required by WPC.

 

		

 

    	 

    	 

    

 

		15.2	The
Licensor may, at any time, terminate the License without compensation to the Licensee in case Licensee becomes bankrupt or otherwise
insolvent or applies for being adjudicated as insolvent/ bankrupt, provided such termination shall not prejudice or affect any
right of action which has accrued or will accrue thereafter to the Licensor.

 

ARTICLE-16

 

FORCE
MAJEURE

 

		16.1	If
at any time, during the continuance of this License, the performance of any obligation either in whole or in part by any party
is prevented or delayed, by reason of war, hostility, acts of enemy, civil commotion, sabotage, fire, flood, act of state or centre,
explosion, epidemic, quarantine restriction, strikes materially affecting the performance of any obligations of affected party,
or act of God (all or any of these hereinafter referred to as Force Majeure Event), neither party shall, by reason of such Force
Majeure Event be entitled to terminate this License, nor shall either party have any claim for damages against the other, in respect
of such non-performance or delay in performance provided notice of happenings of any such Force Majeure Event is given by either
party to the other, within 21 days from the date of occurrence thereof.

 

ARTICLE-17

 

DISPUTES
WITH OTHER PARTIES

 

		17.1	In
the event of any dispute of the Licensee with any party other than Licensor due to any reason whatsoever, the dispute will be sorted
out among themselves and Licensor will have no liability in any manner. The Licensee undertakes to indemnify Licensor in respect
of any action against Licensor for acts of commission or omission on the part of the Licensee, its agents and servants.

 

ARTICLE-18

 

DISPUTE
RESOLUTION AND JURISDICTION

 

		18.1	In
the event of any question, dispute or difference arising under this License, or in
connection thereof, except as to the matter, the decision of which is specifically provided under this License, the same shall
be referred to the sole arbitration of the Secretary, Department of Legal Affairs, Government of India or his nominee.

 

		

 

    	 

    	 

    

 

		18.2	There
will be no objection to any such appointment on the ground that the Arbitrator is a Government servant. The award of the arbitrator
shall be final and binding on the parties. In the event of such Arbitrator, to whom the matter is originally referred to, being
transferred or vacating his office, or being unable to act for any reason whatsoever, Secretary, Department of Legal Affairs shall
appoint another person to act as Arbitrator.

 

		18.3	The
Arbitration and Conciliation Act, 1996, the rules made thereunder and any modification thereof, for the time being in force, shall
be deemed to apply to the arbitration proceedings as above. The venue of arbitration shall be New Delhi or such other place as
the Arbitrator may decide. The arbitration proceedings shall be conducted in English language.

 

		18.4	Upon
any and every reference as aforesaid, the assessment of costs, interest and incidental expenses in the proceedings for the award
shall be at the discretion of the Arbitrator.

 

		18.5	The
Courts at New Delhi shall have the jurisdiction over all disputes.

 

ARTICLE
-19

 

CONFIDENTIALITY

 

		19.1	The
Licensee shall keep all the secret and security related information exchanged between the Licensor and itself as confidential and
shall not disclose such information to any third party or to the media.

 

ARTICLE-20

 

PENALTY

 

		20.1	For
violation of license conditions, in addition to any other action which may include revocation of license, a penalty upto Rs.50
crores can be imposed by the Licensor on the Licensee. However, before taking such action the licensing authority will give the
Licensee an opportunity of being heard. The decision of the licensing authority shall be final.

 

ARTICLE-21

 

MISCELLANEOUS

 

		21.1	Notwithstanding
any clause anywhere else in the License, the License wiil be subject to the condition that as and when any regulatory authority
to regulate and monitor the Broadcast Services in the country is constituted, the Licensee’s will have to adhere to the norms,
rules and regulations prescribed by such authority.

 

		

 

    	 

    	 

    

 

		21.2	This
license is subject to requirements and provisions of any law which may be enacted in future for regulating and guiding broadcasting
in India.

 

		21.3	The
Licensee shall obtain the necessary environmental clearances, wherever required. The Licensee shall also comply with Copyright
Act, the Electricity Act, Factories Act and other relevant laws of the land. In case of non-compliance of any of the aforesaid
requirement, the Licensor shall have the right to revoke the License of the Licensee.

 

		21.4	Some
of the clauses of this agreement are being considered by the Licensor for amendment. The Licensee agrees to replace this agreement
with the new agreement as soon as such amendments are finalized.

 

		

 

    	 

    	 

    

 

FORM -D

 

STATEMENT
OF GROSS REVENUE FORMING PART OF THE FINAL ACCOUNTS OF M/S. BHARAT BUSINESS CHANNEL LIMITED

 

	 	 	Tariff

Rate/	Discounts	Agency	Taxes	Net as per

P&L

Account

(amount
	SL.	 	Rate	Trade	Others	Commission	 	Rupees in
	No.	Income Heads	Card	 	 	 	 	lakhs)
	1	Advertisement	 	 	 	 	 	 
	2	Promotional events	 	 	 	 	 	 
	2.1	Musical/Star Events	 	 	 	 	 	 
	2.2	Sponsored
    programmes	 	 	 	 	 	 
	3	Marketing Rights	 	 	 	 	 	 
	4	Commission	 	 	 	 	 	 
	5	Royalties	 	 	 	 	 	 
	6	Sale of antenna, set top boxes etc.	 	 	 	 	 	 
	7	Rent -Premises	 	 	 	 	 	 
	8	Rent-Equipment	 	 	 	 	 	 
	9	Interest/Dividend	 	 	 	 	 	 
	10	Related Party Transactions	 	 	 	 	 	 
	10.1	Goods sold	 	 	 	 	 	 
	10.2	Services tendered	 	 	 	 	 	 
	10.3	Production	 	 	 	 	 	 
	10.4	Marketing	 	 	 	 	 	 
	10.5	Others	 	 	 	 	 	 

 

Note:

 

1.  The
income heads are only indicative and illustrative and the Auditor would include all the relevant Heads of the licensee.

 

2.  The
income from the Related Parties shall tally with the Related Parties as per accounting standards no. 18.Exhibit 10.2

 

PORTIONS OF THIS EXHIBIT MARKED BY [**REDACTED**]
HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE

SECURITIES AND EXCHANGE COMMISSION

 

	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

Agreement No: INSAT-ST2 / Ku / DTH
/ 01 / 2012

 

between

 

Bharat Business Channel Limited

 

and

 

Satellite Communication and Navigation

Programme Office (SCNP)

Department of Space

Government of India

New BEL Road

Bangalore 560 231

 

for

 

Provision of Ku-band Space Segment
Capacity

in INSAT-ST2 System

 

Date: April 19, 2012

 

  

  

    	1

    	 

    

 

	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

 AGREEMENT
FOR THE PROVISION OF Ku-BAND SPACE SEGMENT

CAPACITY IN THE INSAT-ST2 SYSTEM

 

This Agreement No: INSAT-ST2 / Ku / DTH / 01 / 2012
is entered into on this 19th day of April, 2012 by and between

 

THE PRESIDENT OF INDIA

acting through and represented by the

SECRETARY, DEPARTMENT OF SPACE, GOVERNMENT OF INDIA,

hereinafter referred to as “DOS” (which
expression shall unless excluded by or repugnant to the context be deemed to include its successor and assigns) of the ONE PART

 

and,

 

Bharat Business Channel Limited,

(an associate company of Videocon Industries Limited)

a company incorporated under the Companies Act 1956

having its registered office at

171-C Mittal Court, ‘C’ Wing, 17th Floor,

Nariman Point, Mumbai 400 021, India;

 

hereinafter referred to as “CUSTOMER”
(which expression shall unless excluded by or repugnant to the context be deemed to include its successor and assigns) of the OTHER
PART;

 

WITNESSES AS FOLLOWS:

 

WHEREAS, CUSTOMER has requested
Department of Space (DOS) for provision of Ku band capacity in INSAT-ST2 system for the purpose of meeting its Direct-to-Home (DTH)
broadcasting requirements; and

 

WHEREAS, DOS, through ANTRIX
having received the Ku band capacity in the ST2 satellite system from Singapore Telecommunications Limited, Singapore (herein after
referred to as “Singtel”) under an Agreement dated April 18, 2012 in order to provide the same to CUSTOMER, has agreed
to the request of CUSTOMER and has decided to make available to CUSTOMER, on a back to back provision basis, its space segment
capacity in the ST2 satellite system (henceforth, called as INSAT-ST2 Satellite system) for such purpose under appropriate terms
and conditions contained herein.

 

NOW, THEREFORE, in consideration
of these promises and of the mutual promises and of the Parties contained herein, the Parties hereto agree to be bound unconditionally
to the following terms and conditions:

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

 ARTICLE 1. Definitions

 

As used in this Agreement:

 

“Antrix-SingTel Agreement”
means the Agreement dated 18.04.2012 entered into between Antrix Corporation Ltd. and Singapore Telecommunications Limited, Singapore
for lease of Ku-Band Space Segment Capacity.

 

“Capacity” means
the clean, interference free and bare Ku-band transponder capacity, with transponder frequency management, to be provided on the
Transponder(s).

 

“Commencement Date of
Service” means, subject to Article 2, shall be March 01, 2012 in respect of the Capacity for six (6) ST-2 Transponders; on
the K6A, K7A, K8A, K9A, K8B and K9B and shall be from 19th April 2012, the date of frequency allocation in respect of
ST-2 Transponders, K6B and K7B.

 

“Early Termination Charges”
means, in relation to Capacity that is cancelled (prior to the Commencement Date of Service) or terminated by the CUSTOMER prior
to the end of the applicable Service Period(s), 100% of all fees and charges (monthly recurring or otherwise) for the balance of
the Service Period(s).

 

“Payment Date” means
the due date specified in this Agreement for payment of any sum payable by the CUSTOMER to DOS under this Agreement.

 

“Power Equivalent Bandwidth”
- means the amount of total power used by the carriers, being represented as a bandwidth equivalent. In a single 54MHz transponder
transmission, the total PEB refers to the saturation power of the transponder."

 

“Service Charges”
means the recurring charges payable by the CUSTOMER in respect of the Capacity as per Exhibit B hereto.

 

“Service Period”
means the period(s) for which the CUSTOMER must acquire Capacity on the respective Transponder, commencing from the Commencement
Date of Service until 28 February 2015

 

“Serving Satellite”
means the satellite designated by SingTel to provide the Capacity, including the ST-2 Satellite or any satellite used in substitution
or replacement of the same.

 

“ST-2 Satellite”
means the communications spacecraft designated as ST-2 and operated by SingTel at the 88°E geostationary orbital location.

 

“ST-2 Transponders”
means the Transponders of 54MHz on the ST-2 Satellite as further described in Exhibit A.

 

 

 

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 SingTel shall mean “Singapore Telecommunications
Limited, Singapore, the satellite operator providing the transponder capacity on ST-2 satellite system.

 

“Transponder” means
any 54MHz Ku-band radio frequency transmission channels on the Serving Satellite through which SingTel shall provide the Capacity.

 

“Successfully Operating
Transponder” means a transponder which is operational and fully meets and satisfies the technical specifications as per Exhibit
— A hereto.

 

“Transponder Failure”
means, with respect to any Transponder, such Transponder fails to provide Capacity (or part thereof) that meets the technical specifications
as per Exhibit A in any material respect for any period of three (3) consecutive days. For purposes of this definition, measurement
of periods of failure shall commence when the signal has been vacated to permit verification of the existence of the failure by
DOS/SingTel.

 

ARTICLE 2. Transponder Capacity

 

	 	a.	In accordance with the terms and conditions of this Agreement, including all of its Exhibits (Exhibits A, B and C) which form part of this Agreement, DOS shall provide and the CUSTOMER shall take on lease the Capacity for the relevant Service Period

 

	 	b.	CUSTOMER and DOS agree that the transponder capacity shall be utilised in accordance with this Agreement and its Exhibits.

 

	 	c.	CUSTOMER and DOS agree that DOS make the Capacity available to CUSTOMER on a 24-hour, seven-day-per-week basis, for a period of three years (3) from the commencement date of Service until Feb 28, 2015.

 

ARTICLE 3. Interruption in the Provision of Capacity

 

	 	a.	No allowances or credits will be made, for whatever reason, for any single interruption (including planned outages by DOS), in the availability of the Capacity, which is less than one (1) hour duration.

 

Any single interruption in
the availability of the Capacity for reasons other than those mentioned in subparagraph c below which is one (1) hour duration
or more and which is attributable to the SingTel segment, shall be credited to CUSTOMER calculated in an amount equal to the applicable
annual charges (as reflected in Exhibit B) attributable to the affected channels of the Capacity, in one hour multiples for each
hour or major fraction thereof, of interruption. The length of interruption shall be measured from the time that the CUSTOMER notifies
DOS of the interruption, and CUSTOMER vacates its signal from the affected space segment to permit the verification of the existence
of the interruption or failure and SingTel’s confirms its occurrence until the time that DOS notifies the CUSTOMER that the
Capacity has been restored. Credit allowances are applied against future payments. However, if the interruption occurs during the
last month of service and there is no outstanding balance due, DOS will refund the amount of the credit allowance to CUSTOMER,
subject to such allowance by SingTel.

 

 

 

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	 	b.	No allowances or credits will be made for any interruption caused by an act or act of omission (including negligence) of CUSTOMER, its customers, contractors, lessees, agents, assignees or employees.

 

	 	c.	No interruption shall be deemed to have occurred for the purpose of this Article 3, and no allowances or credits will be made if the interruption is the result of, or attributable in whole or in part to:-

 

	 	(i)	failure or non-performance of CUSTOMER’S earth station facilities irrespective of who is operating or controlling the facilities;

 

	 	(ii)	equipment operated by CUSTOMER disrupting the communication system on the Serving Satellite or causing interference with or harm to other Transponders on the Serving Satellite, such that - (a) the other Transponders cease to be successfully operating transponders; or (b) it causes the failure of the communication systems of other users;

 

whereupon DOS shall permit
SingTel to, without liability to the CUSTOMER, immediately interrupt CUSTOMER’S use of the Capacity, or CUSTOMER shallupon
noticefrom DOS immediately

interrupt its transmissions
andsuspend itsuse of the Capacityto

the extent necessary to eliminate
the disruption, interference or harm specified in this subparagraph (c)(ii);

 

	 	(iii)	sun outages; or

 

	 	(iv)	a Force Majeure event; or

 

	 	(v)	outages arising from Capacity Testing and Emergency Testing of the Serving Satellite; or

 

	 	(vi)	other action taken by SingTel under the Antrix-SingTel Agreement.

 

 

 

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ARTICLE 4. Fees and Charges

 

	 	a.	The Service Charges payable under this Agreement are as per Exhibit B to this Agreement. All charges are invoiced and payable in Indian Rupees. The charges invoiced and payable will be benchmarked against the then prevailing exchange rate of US Dollar and all fluctuations in the exchange rate shall be borne by the CUSTOMER.

 

	 	b.	A suitable adjustment in the billing would be done on a quarterly basis to take care of the foreign exchange rate variation and the exchange rate applicable on the day of transaction of payment by ANTRIX to SingTel would be used as the reference. Exchange variations as above, shall be calculated and sent to CUSTOMER through a debit/credit note. The remittance of exchange variation(s) shall be made together with the monthly payment for the current month, as per the due date specified in the invoice. Any delay in payment shall attract late payment charges as mentioned in Article 4(e). Excess remittance, if any shall be adjusted in the subsequent payment.

 

	 	c.	Subject to the provisions of this Agreement, Service Charges are to be paid monthly in advance by CUSTOMER before the fifteenth day of the month, immediately prior to the month for which the provision of Capacity pertains to.

 

	 	d.	Service Charges apply from the commencement of the Service Period whether or not the CUSTOMER activates the Capacity.

 

	 	e.	For payments of any sum payable by the CUSTOMER under this Agreement (whether of Service Charges, Early Termination Charges or otherwise) not received by the applicable Payment Date, DOS will assess until such time as payment in full is made, a late payment charge of 2 percent (2%) per month.

 

	 	f.	Non-receipt or late receipt of invoice shall not absolve CUSTOMER from its liabilities to pay. In case CUSTOMER does not receive the invoices in time, CUSTOMER shall pay, within the due date, in accordance with the monthly amount mentioned in the invoice for the previous month or in Exhibit-B above. Appropriate adjustments shall be made in the subsequently monthly invoice, if required.

 

	 	g.	At the time of signing this agreement, CUSTOMER shall furnish a refundable interest-free caution deposit to ANTRIX for a value equivalent to the aggregate Service Charges for three (3) months. CUSTOMER shall suitably deposit additionally as and when further capacity is leased.

 

 

 

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ARTICLE
5. Taxes and Duties

 

	 	a.	All payments and charges payable by the CUSTOMER to DOS under the Agreement shall be subject to Tax Deduction at Source (TDS) as may be applicable as per the Indian Income Tax Act, as amended from time to time. CUSTOMER shall provide to ANTRIX, the Contract Manager of this Agreement, the original TDS certificate along with the payment. CUSTOMER shall mandatorily upload such TDS deductions in appropriate electronic format in the identified web portal as notified by the Income Tax Department from time to time before the earliest due date prescribed by the Income Tax Department failing which, the TDS made shall be construed as not paid and shall be payable by the CUSTOMER with interest as provided in Article 4e.

 

For the above purposes, information
pertaining to Antrix is provided as below:

 

	 	PAN Number:	AABCA4500B and	 
	 	 	 	 
	 	TAN Number :	BLRA01098G	 

 

	 	b.	Any commercial or service tax leviable for providing the provision capacity by any governmental authority shall be borne by the CUSTOMER. Antrix shall invoice the same along with the provision charges.

 

	 	c.	Any direct or indirect taxes and duties, including revision(s) if any, to the existing tariffs, levied by any governmental authority towards provision of transponder capacity shall be borne by the CUSTOMER.

 

As per existing provisions
of the Income Tax Act, 1961, DOS through Antrix is required to deduct and withhold tax on amounts payable to Singtel under its
Agreement with Singtel, as aforesaid. As Singtel has not applied for and obtained a Permanent Account Number (PAN number) from
the Income Tax Authorities in India as per the Income Tax Act, 1961 as amended from time to time, DOS/Antrix is required by law,
to deduct and withhold income tax at source on such payments to SingTel at the prevalent rates, (currently 20% of the transponder
provisioning charges). The Parties unconditionally agree that the amount/quantum of income tax that is required to be deducted
at source, by DOS/Antrix, shall be paid by the CUSTOMER to DOS/Antrix, over and above the full transponder provisioning charges
and Antrix Contract Management Charges agreed between the Parties as per this Agreement. DOS/Antrix shall invoice the CUSTOMER
on the full transponder provisioning cost, as applicable and the CUSTOMER shall be liable to pay the entire amounts under the Invoice
to DOS/Antrix. For avoidance of any doubt, the CUSTOMER shall pay DOS/Antrix an Indian Rupee (INR) equivalent of US$ 14,33,333.33
per month for 8 transponders of 54 MHz each, at the foreign exchange rate prevalent at the time of payment for the sub-provisioning
of 8 Transponders on ST-2, which includes the full cost of the transponder capacity, reimbursement of Income Tax Withholding and
Antrix Contract Management fees

 

 

 

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	 	d.	CUSTOMER shall indemnify DOS, ANTRIX & Singtel and hold DOS, ANTRIX & Singtel harmless at all times against all liabilities whatsoever incurred or suffered by ANTRIX in respect of any Taxes, imposts, duties, interests, penalties, charges or otherwise levied or imposed on ANTRIX & Singtel by reason of performance of this Agreement (including all reasonable professional fees being incurred thereof), by payment of the appropriate amount to ANTRIX on its first demand with proof of the demand by the relevant Tax Authority.

 

ARTICLE 6. Termination

 

	 	a.	Termination by CUSTOMER:

 

	 	(i)	Except as expressly provided otherwise in this Agreement, the CUSTOMER shall not terminate the Capacity and/or Agreement at any time after the date of this Agreement.

 

	 	(ii)	CUSTOMER may terminate the Capacity (in part or in full) at any time after the date of this Agreement by giving at least nine (9) months prior notice to DOS. In the notice, CUSTOMER shall specify the Effective Date of Termination (“ETD”). In the event of such termination in full or in part, as the case may be, the CUSTOMER shall pay DOS the Early Termination Charges as liquidated damages for such default and not as a penalty, in respect of that Capacity terminated.

 

	 	(iii)	Notwithstanding any of the provisions above, CUSTOMER agrees that such termination would be effective only upon acceptance by SingTel.

 

	 	b.	Termination by DOS

 

DOS shall not terminate this
Agreement either in whole or in part during the Service Period except for reasons in the paragraph below.

 

DOS may terminate the Capacity
and/or the Agreement with immediate effect by giving written notice to CUSTOMER in the event that:

 

 

 

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	 	(i)	CUSTOMER fails to pay any amount due hereunder for consecutively two (2) months and fails to cure such breach within twenty (20) days after receipt of written notice of such failure from DOS;

 

	 	(ii)	CUSTOMER breaches a provision of this Agreement, fails to perform any obligation hereunder or makes a representation and does not (in relation to a breach or failure that is reasonably capable of cure) cure such breach or failure within twenty (20) days after receipt of written notice from DOS.

 

In connection with the termination
of this Agreement for reasons set forth in paragraphs (a) and (b) above, the CUSTOMER shall, within fifteen (15) days of the termination
date, pay DOS Early Termination Charges.

 

	c.	 	CUSTOMER’S Acknowledgment

 

CUSTOMER acknowledges and agrees
that it accepts the Transponder Capacity with such pre-estimated liquidated damages related to cancellation and/or early termination
in view of space segment, transponder and/or satellite used for the provision of the Capacity contemplated under the Agreement
being a commodity in limited supply.

 

	d.	 	Vacation of Capacity Upon Termination

 

Upon expiration of this Agreement
or termination of the Capacity and/or this Agreement (in whole or in part) either by CUSTOMER or DOS, the use of the Capacity so
terminated / expired shall revert to DOS unconditionally.

 

ARTICLE 7. Payment

 

	 	a.	All invoices for payments due shall be sent to CUSTOMER at the following address:

 

Mr. Avanti Kanthaliya, Head Finance

Bharat Business Channel Limited

1st Floor, Tech Web Building

New Link Road

Oshiwara,

Mumbai, 400102, India

Fax No.-+9122 42555050

Mobile: +919987680055

Email: avanti.kanthaliya@d2h.com

 

	 	b.	All sums payable to DOS under this Agreement shall be paid, on or before the Payment Date, through RTGS (as per details given below):

 

 

 

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	Name of Company	: ANTRIX Corporation Limited
	Bank Name	: Canara Bank
	Account Type	: Current Account
	Branch address	: RMV Extension, Bangalore 560 080
	Account No	: 0888201000767
	MICR Code	: 560015048
	NEFT & RTGS IFS Code	: CNRB 0000888

 

The CUSTOMER shall inform Antrix
about the fund transfer (via email or telephone call) immediately after the fund is transferred in bank account followed by letter
by post to: :

 

Head Accounts and IFA

ANTRIX Corporation, ISRO HQ,

Department of Space

Antariksh Bhavan,

New BEL Road, Bangalore 560 231

 

	 	c.	Any installment of the Charges which remains unpaid at the relevant due date will bear interest at two per cent (2%) per month (hereinafter, the “Interest Rate”) calculated daily from such due date up to and including the date of receipt of payment by ANTRIX.

 

	 	d.	All bank charges (for remittance) by CUSTOMER’S bank shall be borne by CUSTOMER and the charges at the recipient bank shall be paid by ANTRIX.

 

	 	e.	CUSTOMER shall provide complete details related to the 'Tax deducted at Source' at the time of making payment against Antrix invoices by e-mail & registered post.

 

ARTICLE
8. Force Majeure

 

	 	a.	Neither of the Parties hereto shall be liable for any failure or delay in the performance of its obligations hereunder if such failure or delay is due to Force Majeure as defined in this Article, provided that notice thereof is given to the other Party within fifteen (15) calendar days after such event has occurred.

 

 

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	 	b.	The term “Force Majeure” as used in this article means an event beyond the reasonable control and without the fault or negligence of the party concerned, and includes without limitation, acts of God, meteorological/ atmospheric occurrences or disturbances (including sun outbursts, sun outages and electromagnetic storms) or other natural events; irreparable satellite component failure, regardless of the cause(s) of such failure; externally-caused interference; damage caused by space debris; acts of Government in its sovereign capacity, Governmental or regulatory authority (including any law, rule, order, regulation, or direction of any government or government instrumentality, or of any civil or military authority, or the failure to grant or continue, or any action to revoke or resulting in a materially adverse change to the terms of, the orbital slot and/or other licenses/authorizations/approvals required in respect of the Serving Satellite); national emergencies; insurrections riots; act of war; contractual obligations under the Antrix-SingTel Agreement, quarantine; restriction;, any transponder failure, (if applicable) and such other similar events.

 

In the event of failure or
delay in the performance of this Agreement arising out of an event of Force Majeure, which cannot be resolved within fifteen (15)
days after notification of the Force Majeure given pursuant to Article 8(a), then either Party shall be entitled to terminate this
Agreement to the extent only of the Capacity failure.

 

ARTICLE 9. Liability for
Damages and Limitation of Damages

 

	 	a.	To the extent permitted by law, and other than the remedies expressly provided for in this Agreement, DOS shall not be liable in any way to the CUSTOMER, whether in contract, tort (including negligence), statute or otherwise, for any direct or indirect economic or financial loss or damage (including loss of revenue or profits) howsoever caused or arising, including but not limited to any such loss or damage caused or arising from: (a) any breach or failure to perform any obligations under this Agreement; (b) any externally caused transmission interference, satellite failure, delay in the commencement or provision of the Capacity, loss or degradation as a result of a migration of capacity or satellite migration or satellite malfunction; (c) loss or destruction of any CUSTOMER equipment regardless of the cause (including where caused or contributed by one or more negligent acts or omissions of DOS and/or SingTel).

 

	 	b.	DOS shall not be liable to CUSTOMER for any loss or damage sustained by the CUSTOMER, its interconnecting carriers or its sub-customers, by reason of any failure in or breakdown of SingTel’s communication facilities or those of the CUSTOMER, underlying carriers, or third parties associated with providing the Capacity, or for any interruption or degradation of the Capacity whatsoever the duration or the cause of such failure, breakdown, interruption or degradation.

 

 

 

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	 	c.	If there is a Transponder Failure, owing to

 

	 	(i)	a fault not attributable to the CUSTOMER, DOS shall use its reasonable endeavors to restore or substitute the Capacity as soon

as reasonably practicable.
Substituted capacity provided shall have similar technical performance and other specifications as defined in Exhibit A.

 

	 	(ii)	a fault attributable to the CUSTOMER, DOS shall not be liable to the CUSTOMER for the resulting failure, disruption or degradation of Capacity and the CUSTOMER shall continue to be liable for all fees and charges payable by the CUSTOMER for the Capacity despite the failure, disruption or degradation of Capacity.

 

	 	d.	CUSTOMER shall indemnify and hold DOS and/or SingTel harmless from any loss, damage, liability or expense arising from:

 

	 	(i)	Any commission or omission on the part of CUSTOMER, its users, contractors, agents, employees or persons claiming through the CUSTOMER in connection with libel, slander, invasion of privacy, or infringement of copyright or any other claims or actions arising from the use of the Capacity by the CUSTOMER or the content carried thereon;

 

	 	(ii)	Infringement of patents arising from (a) combining with or using in connection with, the Capacity, apparatus and systems of CUSTOMER, its users, customers, contractors, lessees, agents or assignees; (b) use of the Capacity in a manner not contemplated by SingTel and over which SingTel exercises no control;

 

	 	(iii)	Violation of the laws of India or any other country or damage to any third party arising from the use of the Capacity by the CUSTOMER;

 

	 	(iv)	Failure on the part of the CUSTOMER to obtain and keep in force necessary permissions / licenses / clearances from any authority concerned.

 

	 	(v)	Non-compliance of any rules, terms and conditions laid down by TRAI, DOT, Ministry of Information and Broadcasting or any authority as may be applicable.

 

	 	e.	The provisions in this Article shall survive the expiry or termination of this Agreement.

 

	 	f.	No warranties, express, implied, or statutory, including any warranty of merchantability or fitness for a particular purpose, apply to the Capacity.

 

	 	g.	To the extent that any of DOS’s limitations of liability in Article 9 are not permitted by law, then DOS aggregate cumulative liability to the CUSTOMER whether in contract, tort (including negligence or breach of statutory duty) or otherwise for any and all losses, damages or liabilities caused or arising from any breach, failure or default of DOS to perform any of its obligations or duties to the CUSTOMER with respect to the Capacity shall not in aggregate exceed the amount equal to only those fees and charges in respect of the Capacity which are prescribed and imposed with reference to any time frame or interval (but not usage) for the period of one month immediately preceding such breach, failure or default on the part of SingTel has arisen.

 

 

 

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 Article 10. Operational
Requirements

 

	 	a.	CUSTOMER shall be responsible to ensure that all the requisite clearances for operating the earth stations and terrestrial facilities, which use the Capacity, are obtained. These earth stations shall be operated and maintained in accordance with all the applicable provisions, including Satellite User’s Guide set out at Exhibit C, suggested by SingTel. The operations, procedures, technical standards and/or satellite access procedures are subject to change. DOS is not responsible to CUSTOMER if such a change affects or requires modification of any facility, CUSTOMER equipment, or CUSTOMER communication systems in order to be used with the Capacity. If such change can be reasonably expected: (i) to materially affect the operating or transmission characteristics of the Capacity, or (ii) to render any CUSTOMER equipment or CUSTOMER communications system incompatible with the Capacity, DOS shall use reasonable efforts to provide adequate notice, in writing, to allow Customer an opportunity to maintain uninterrupted Capacity. DOS shall have no obligation to change or modify any of its components, operations or procedures to be compatible with those of Customer.

 

		b.	Unless otherwise specified in the Agreement, DOS shall not provide any terrestrial facilities as part of the Capacity and CUSTOMER shall be solely responsible for the installation, licensing, and maintenance of any terrestrial facilities used to communicate with ST-2. CUSTOMER warrants to DOS that all licenses/approvals required to operate such terrestrial facilities, if any, have been obtained or shall be obtained prior to the start date of the Capacity. CUSTOMER shall indemnify DOS from and against any liabilities that SingTel may incur as a result of CUSTOMER'S failure to obtain such licenses/approvals.

 

	 	c.	For purposes of ensuring that the transmission by CUSTOMER is within the acceptable levels of operating parameters, DOS may monitor the transmission of the Capacity.

 

	 	d.	CUSTOMER shall ensure that any transmission facility used to access the Serving Satellite is at all times capable of ceasing transmission immediately upon CUSTOMER’S telephone and/or fax notice. DOS may, but is not obligated to, inspect CUSTOMER-provided facilities to confirm compliance with this requirement.

 

 

 

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	 	e.	CUSTOMER shall not interfere with the use of or cause harm to: (i) the Serving Satellite, transponder, or space segment; or (ii) any backup satellite, transponder, or space segment to which CUSTOMER is given access pursuant to the Agreement. DOS shall enable SingTel with the right to take immediate action, including suspending or terminating the Capacity on the affected transponder and/or space segment, in order to protect the provisioned Capacity and/or interests. If Capacity is so terminated and the cause of which is attributable to the Customer, CUSTOMER shall pay for: (i) any improper illumination charges assessed; (ii) Capacity received through the time of termination; and (iii) any Early Termination Charges stated in Article 6b above,

 

	 	f.	CUSTOMER’S transmissions to the Serving Satellite shall in all material respects comply with all laws applicable to it regarding the operation of the Serving Satellite, Transponder, and/or space segment, as well as any backup satellite, transponder, or space segment(s) to which CUSTOMER may be given access pursuant to the Agreement. DOS reserves the right to get the satellite frequency signals monitored to ensure that the technical standards required by SingTel are met.

 

	 	g.	DOS may at any time perform Capacity testing on the Serving Satellite (“Capacity Testing”) if DOS (i) provides CUSTOMER with a minimum of seven (07) hours prior notice, and (ii) makes reasonable efforts to coordinate such Capacity Testing with CUSTOMER to minimize disruption of CUSTOMER’S use of the Capacity. DOS will minimize Capacity Testing to the greatest extent practicable and will not perform such Capacity Testing unless necessary to: (i) maintain or initiate new Capacity on the Serving Satellite, and/or (ii) otherwise prudently manage its satellites.

 

	 	h.	DOS may, at its sole discretion and at any time, perform testing on the Serving Satellite other than Capacity Testing (“Emergency Testing”) in the following circumstances (i) for the purpose of restoring or determining the cause of an interruption to or failure of a component or subsystem on the Serving Satellite; (ii) in response to an order of any court, tribunal or other administration having appropriate jurisdiction; (iii) to determine the cause or source of any interference; (iv) to protect overall satellite performance; and/or (v) to properly coordinate with other satellite users or operators and, in such circumstances, DOS through SingTel will endeavor to provide CUSTOMER with as much notice of the Emergency Testing as practicable in the circumstances.

 

	 	i.	If DOS detects any Improper Illumination (as defined hereinafter) of any Transponder and/or space segment provided under this Agreement, it shall notify CUSTOMER by calling the CUSTOMER provided telephone number(s) for notice of Improper Illumination (“Customer Notification Number”). Within five (5) minutes of such notification, CUSTOMER shall take immediate corrective action to stop the Improper Illumination. DOS reserves the right to suspend or terminate the Capacity on the affected

 

 

 

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Transponder and/or space segment
for any Improper Illumination that continues beyond the five minute period but not exceeding forty five (45) minutes after notification
or attempted notification if there is no answer at the Customer Notification number (it being understood and agreed that it is
CUSTOMER’S responsibility to provide DOS with a Customer Notification number at which DOS can contact CUSTOMER twenty-four
hours per day, seven days a week, 365/366 days per year). In addition, DOS shall have the right to take immediate action, including
suspending or terminating the Capacity on the affected Transponder and/or space segment, in order to protect DOS’s services
and/or interests. If Capacity is so terminated, CUSTOMER shall pay for Capacity received through the time of termination and any
Early Termination Charges as stated in Article 6b.

 

For the purposes of this Agreement,
“Improper Illumination” means (i) transmissions other than as specified in the transmission parameters set out in the
Satellite User Guide set out at Exhibit C, (ii) transmissions at an incorrect frequency, (iii) transmissions at excessive power
levels, and/or (iv) any illumination that could cause harm or interference to any Transponder or space segment on the Serving Satellite
or to any other satellite.

 

	 	j.	The
    CUSTOMER shall comply strictly with the link budget i.e. the technical calculation specified by SingTel
at Exhibit A.

 

ARTICLE 11:
GovernmentalRegulations

 

	 	a.	At all times during this agreement, the CUSTOMER agrees to comply and remain in compliance with all applicable laws, rules and regulations relating to or affecting the performance of its obligations hereunder and shall secure and maintain in full force and effect all licenses, permits and authorisations from all concerned Governmental agencies to the extent the same are required and necessary for the performance for the performance of its obligations to the satisfaction of DOS.

 

	 	b.	This agreement shall always be subject to the terms of the various broadcast guidelines and policies in force and of licenses, permits and authorisations as may be required from time to time.

 

ARTICLE 12. Use of
Capacity

 

	 	a.	CUSTOMER shall ensure that its utilisation of the Capacity is not and will not constitute a breach of any applicable laws, rules and regulations governing the CUSTOMER, and any order(s) and/or direction(s) imposed by the Indian Government and/or the concerned authorities in India, including those governing the content of programming of any television transmission that is transmitted by CUSTOMER.

 

 

 

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	 	b.	CUSTOMER shall further assure that it shall abide by the technical procedures laid down by DOS/SingTel for the usage of the Capacity, as detailed in Exhibit C, hereto.

 

ARTICLE 13. Availing of Transponder
Capacity

 

	 	a.	CUSTOMER shall ensure that its utilisation of the Capacity is not and will not constitute a breach of any applicable laws, rules and regulations imposed by any governmental and regulatory authorities either in India or in the countries where the obligation hereunder will be performed by CUSTOMER including those governing the content of programming of any television transmission that is transmitted by CUSTOMER.

 

		b.	CUSTOMER shall ensure that the availing of the Capacity does not and will not constitute a breach of any applicable laws, rules and regulations imposed by any governmental and regulatory authorities in countries outside India including those governing the content of programming of any television transmission that is transmitted by CUSTOMER. The CUSTOMER will offer full indemnity to DOS in this regard and keep DOS completely harmless against all costs, losses, injuries, damages, etc. that may arise on account of the CUSTOMER’S breach of any/all terms and conditions of this Agreement..

 

ARTICLE 14. Antrix-SingTel Agreement - Acknowledgement
of CUSTOMER

 

	 	a.	CUSTOMER hereby acknowledges and confirms that that ANTRIX has procured the Capacity i.e., the subject matter of this Agreement from SingTel under an Agreement dated April 18, 2012 only for the purpose of enabling DOS to provision this Capacity to the CUSTOMER for its DTH applications. CUSTOMER further acknowledges that it is the final beneficiary of capacity leased to DOS under the Antrix-SingTel Agreement. Further, CUSTOMER agrees and unconditionally accepts that DOS can provide this capacity if and only if such capacity is provided to DOS thorugh Antrix by SingTel.

 

	 	b.	The CUSTOMER having examined the Antrix-SingTel Agreement in detail confirms that it is aware of the legal and contractual terms and conditions of the Antrix-SingTel Agreement, including the strict nature thereof and unconditionally acknowledges that this Agreement has been executed on a back-to-back basis.

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

	 	c.	The CUSTOMER hereby confirms and understands that terms and conditions placed upon it in this Agreement is a consequence of the terms and conditions placed upon Antrix under the Antrix-SingTel Agreement and for that reason, the CUSTOMER unequivocally agrees, confirms and acknowledges that any failure of or breach of any terms or conditions of this Agreement by the CUSTOMER, will as a consequence thereof, lead to a breach of the Antrix-SingTel Agreement. The CUSTOMER further acknowledges and confirms that in such an event, SingTel has certain rights and powers in respect of providing Capacity, including the stoppage of services and this situation may give rise to disputes between ANTRIX and SingTel.

 

	 	d.	The CUSTOMER hereby agrees, confirms and declares that it shall perform and satisfactorily fulfill all its obligations under this Agreement and ensure that there is no breach whatsoever hereof and in case of breach hereof leading to a negative impact upon DOS under the Antrix-SingTel Agreement, the CUSTOMER hereby unconditionally agrees to completely indemnify DOS against all costs, losses, liquidated or other damages, consequences, legal and attorney’s fees, penalties, etc. that may incur to DOS on account of action taken by SingTel under the Antrix-SingTel Agreement for breach thereof.

 

	 	e.	The CUSTOMER is aware that the Agreement dated April 18, 2012 between ANTRIX and Singtel is governed by the laws of England & Wales and the Arbitration in case of disputes, is to be conducted in London in accordance with UNCITRAL Arbitration Rules.

 

	 	f.	Therefore the Parties hereby unconditionally agree that in the event, any dispute(s) arise which may or may not lead to Arbitration between ANTRIX and Singtel, on account of the CUSTOMER’S default of any terms and/or conditions of this Agreement, the CUSTOMER shall keep and hold ANTRIX indemnified and harmless against all costs, injury, damages, losses, etc. that may incur upon ANTRIX, including costs of arbitration and dispute resolution, attorneys fees, other expenses, incidental or otherwise, whatsoever, related thereto.

 

ARTICLE
15.: Intentionally kept blank

 

ARTICLE
16. Assignment

 

CUSTOMER
shall not assign any of its rights or delegate any of its obligations hereunder.

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

ARTICLE 17:Sub-lease

 

CUSTOMER
shall not sublease the transponder capacity. For the purposes of this clause, the channels turned around by the CUSTOMER,
time slots allotted to third parties, etc. shall not be construed as sub-lease.

 

ARTICLE 18. Confidentiality

 

Each Party agrees that it will not disclose
(by itself or through any employee or officer) this Agreement or the contents thereof to any person whatsoever, other than as may
be required for the performance of obligations or enforcement of the provisions of this Agreement or as specified herein or as
may be required in pursuance of any law, regulation, rule or order of any authority (legislative, executive or judicial.). This
clause shall continue for the entire duration of this Agreement and for a period of one (1) year after the termination or expiry
of this Agreement, including any extension thereof.

 

ARTICLE 19. Governing Law

 

This Agreement and the rights
and responsibilities of the Parties hereunder, shall be subject to and construed in accordance with the laws of India.

 

ARTICLE 20. Arbitration

 

	 	a.	Any dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or invalidity thereof, shall be first attempted to be resolved by mutual negotiations between the Parties. In the event, the Parties are not able to arrive at an amicable resolution of their disputes within 30 days of receipt of a written notice of such dispute(s), then the dispute(s) shall be referred to arbitration in accordance with the Arbitration and Conciliation Act, 1996.

 

	 	b.	The Arbitration shall be conducted by a Sole Arbitrator appointed mutually by the Parties. The place of arbitration shall be Bangalore and the Courts in Bangalore alone shall have jurisdiction in that regard. The language to be used in the arbitration proceedings shall be English. The considered decision or award of the arbitral tribunal shall be final and binding upon the Parties to the arbitration proceeding. The costs of the arbitration shall be shared by the Parties or as may be directed by the Arbitral Tribunal.

 

ARTICLE 21. Notices

 

Any communication concerning this Agreement
by each party to the other shall, unless otherwise provided herein, be sufficiently made if sent by registered post acknowledgement
due or by hand-delivery with due acknowledgement or by facsimile immediately followed by registered post to the address hereinafter
specified, confirmed subsequently by registered post.

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

	CUSTOMER	:	Bharat Business Channel Limited
	 	 	To the Attn of Mr. Himanshu Patil - C.O.O.
	 	 	1st Floor, Tech Web Building
	 	 	New Link Road
	 	 	Oshiwara,
	 	 	Mumbai, 400102, India
	 	 	Fax No. - +9122 42555050
	 	 	 
	 	 	Mobile No. : +9198202 21518
	 	 	Email id: himanshu.patil@d2h.com
	 	 	 
	DOS	:	Director
	 	 	Satellite Communication Navigation Programme Office,
	 	 	Antariksh Bhavan, New BEL Road
	 	 	Bangalore 560 231
	 	 	Tel: +91 80 2341 5301
	 	 	Email: nprao@isro.gov.in

 

ARTICLE 22. Full Agreement

 

This Agreement constitutes the full
understanding and agreement of the Parties concerning the subject matter thereof, and any prior oral or written agreements and
understandings of the Parties concerning the subject matter of this Agreement are hereby superseded and terminated except the Non-disclosure
Agreement, which shall remain in force during the tenure of this agreement.

 

ARTICLE 23. Amendment

 

The terms and conditions of this Agreement
shall not be varied except by mutual agreement of the Parties in writing.

 

In witness whereof the undersigned,
duly authorised, have signed this Agreement.

 

	For and On Behalf of	For and On Behalf of
	DEPARTMENT OF SPACE	CUSTOMER
	 	 
	/s/ N. Prahlad Rao	/s/ Rajkumar N. Dhoot
	
        Authorised
signatory

        Date: 19/4/2012
	
        Authorised
        signatory Rajkumar N. Dhoot

        Date: 19/4/2012

 

	 	 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

Exhibit-A

 

INSAT-ST2 at 88° E

 

SYSTEM CHARACTERISTICS

 

	ST-2

Transponder	 	Uplink Freq 

(GHz)	 	Dnlink Freq 

(GHz)	 	Polarization

Uplink/Downlink
	K6A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K7A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K8A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K9A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K8B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K9B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K6B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K7B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]

 

	Polarization	:	[**Redacted**]
	 	 	 
	Each Transponder Bandwidth	:	54 MHz (usable)
	 	 	 
	Coverage Area	:	[**Redacted**]
	 	 	 
	Nominal EIRP	:	As per attached plots
	 	 	 
	Output power	:	[**Redacted**]
	 	 	 
	Automatic Level Control	:	[**Redacted**]
	 	 	 
	Satellite Receive G/T	:	As per attached plots
	 	 	 
	Saturation Flux Density	:	[**Redacted**]
	 	 	 
	Polarisation Discrimination	:	[**Redacted**]

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

INSAT ST-2 K2 EIRP footprint:

 

[**Redacted**]

 

                  K2

(54 MHz Transponders)

 

[**Redacted**]

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

Exhibit-B

Payment Schedule

 

The Monthly Recurring Charges payable
for 8 transponders of 54 MHz each is US $ 14,33,333.33 per
month (USD Fourteen Lakhs Thirty Three Thousand Three Hundred and Thirty Three and Thirty Three cents only)

 

Terms:

 

	 	1.	Upon signing of the contract, CUSTOMER will require to deposit with DOS a refundable interest-free caution deposit of Rs.21.50 Crores (25% of annual provision rate payment (assuming INR-$ exchange rate as 50) which shall be returned after completion of provision period or upon termination of this contract, whichever is earlier. The caution deposit shall be amended as and when additional transponders are provided to the CUSTOMER.

 

	 	2.	ANTRIX shall use reasonable endeavours to deliver an invoice to CUSTOMER fifteen (15) Business Days prior to the payment due date. The CUSTOMER shall make the payment as per Article 4c.

 

	 	3.	Non-receipt or late receipt of invoice shall not absolve CUSTOMER from its liabilities to pay. In case CUSTOMER does not receive the invoices in time, CUSTOMER shall pay, within the due date, in accordance with the monthly amount mentioned in the invoice for the previous month or in Exhibit B above. Appropriate adjustments shall be made in the subsequently monthly invoice, if required.

 

	 	4.	For the avoidance of doubt, the obligation of CUSTOMER to pay the Charges shall arise regardless of whether an invoice or other notice of such payment from ANTRIX has been given to CUSTOMER.

 

	 	5.	Above price is exclusive of service tax and educational cess. NOCC charges shall be remitted from customer directly to concerned authorities.

 

	 	6.	All payments and charges payable by the CUSTOMER to DOS under the Agreement shall be subject to Indian Income Tax withholding, deductible at source, as may be applicable. CUSTOMER shall provide to ANTRIX the original TDS certificate along with the payment, as outlined in Article 5a.

 

	 	7.	Any direct or indirect taxes and duties, including revision(s) if any, to the existing tariffs, levied by any governmental authority towards provision of transponder capacity shall be borne by the CUSTOMER. ANTRIX shall invoice the same along with the provision charges.

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

	 	8.	CUSTOMER shall be liable to pay the provision charges based on the Rupee/Dollar conversion rate applicable on date of invoicing to CUSTOMER. In the event of a variation between the Rupee/Dollar conversion rate at which ANTRIX has invoiced the CUSTOMER and the rate on the date of payment by ANTRIX to Singapore Telecommunications Limited, such variation shall be adjusted on a quarterly basis and shall be payable by/reimbursed to CUSTOMER, as appropriate. Exchange variations as above, shall be calculated and sent to CUSTOMER through a debit/credit note. The remittance of exchange variation(s) shall be made together with the monthly payment for the current month, as per the due date specified in the invoice. Any delay in payment shall attract late payment charges as mentioned in Article 4(e). Excess remittance, if any shall be adjusted in the subsequent payment.

 

	 	9.	The CUSTOMER shall pay to DOS 15 days before the beginning of the relevant period the provision charges through RTGS (as per details given below):

 

	Name of Company	: ANTRIX Corporation Limited
	Bank Name	: Canara Bank
	Account Type	: Current Account
	Branch address	: RMV Extension, Bangalore 560 080
	Account No.	: 0888201000767
	MICR Code	: 560015048
	NEFT & RTGS IFS Code	: CNRB 0000888

 

	 	10.	The CUSTOMER shall inform Antrix about the fund transfer (vide email or telephone call) immediately after the fund is transferred in bank account followed by letter by Post to:

 

Head Accounts & IFA

Antrix Corporation Ltd

Antariksh Bhavan

New BEL Road

Bangalore 560 231.

 

	 	11.	Antrix Corporation Limited, a 100% owned company of Department of Space, shall be the Contract Manager to administer the above said agreement in its entirety and is vested with all powers under this agreement including issue of legal notice and initiating other legal measures.

 

 

 

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	INSAT-ST2/Ku/DTH/01/2012	Proprietary

 

 Exhibit
C

 

Satellite User Guide

 

CUSTOMER shall observe the following operating procedures
required to initialize an earth station and commence normal carrier operations on the space segment of the ST-2 Satellite.

 

	 	a.	Transmitted Carrier(s): - The transmitted carrier(s) shall be operated within accepted industry standards and shall be within allocated satellite bandwidth.

 

	 	b.	Transmit Power: - DOS shall authorize a particular transmit power (EIRP) of the transmitting earth station. If the CUSTOMER calculates the particular transmit power, DOS shall review and approve the particular level before CUSTOMER commences access to the satellite.

 

	 	c.	Carrier Dispersal: - CUSTOMER is required to provide enough modulation at all times such that the downlink power flux density at the surface of the earth from the ST-2 Satellite shall not exceed the limits set by the ITU Radio regulations.

 

	 	d.	Polarization Isolation (Transmitting earth station) :- Isolation between orthogonal cross-polarized signals shall be at least 30dB.

The polarization adjustment of the earth station
antenna relative to the satellite shall be maintained to an accuracy of +1.0 Degree.

 

	 	e.	Carrier Line Up : - A line up test with ST-2 Satellite must be performed for each uplink antenna and each carrier assigned. Once the line-up test for the given carrier and antenna is completed, the carrier may not need to be re-tested even though it is not operated continuously.

 

The line-up test includes two parts. The first part
includes the normal cross polarization checks and adjustments of the uplink earth station antenna and the calibration of the carrier’s
uplink power level and frequency to assure the correct receive level (C+N/N) as specified in the transmission plan and/or link
budget. The second part includes the normal coordination with the adjacent satellites to assure compliance with coordination agreements
and to ensure no harmful interference to adjacent satellites is created by operation of the carrier on ST-2 Satellite.

 

 

 

    	24

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