Document:

Exhibit 10.3

 

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	Amendment No. 1	Proprietary

 

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

Dated April 19, 2012

 

Amendment No. 1 dated June
19, 2013

(Allocation of additional
2X54 MHz on INSAT- ST2 system)

 

Whereas DOS entered
into an Agreement no.lNSAT-ST2 / Ku / DTH / 01 / 2012 dated April 19, 2012 with Bharat Business Channel Limited for the lease of
8x54 MHz of Ku band space segment on INSAT-ST2 system for meeting its Direct-to-Home (DTH) requirements.

 

AND whereas the
Customer has been allocated additional 2x54 MHz of Ku- band capacity on INSAT-ST2system vide DOS letter no. SCNP/F.631/13/13 dated
June 19, 2013. Accordingly, both the parties in considerations of their mutual covenants in the original Agreement dated April
19, 2012 have now agreed to amend the Agreement with effect from June 19, 2013 as under;

 

		1.	Replace Article 1. Definitions “Commencement Date of Service” in the
                                                            agreement with - “Commencement date of Service means, subject to Article 2, shall be March 01, 2012 in respect to
                                                            the Capacity for six (6) ST-2 Transponders - K6A, K7A, K8A, K9A, K8B and K9B; shall be 19th April 2012 (the date
                                                            of frequency allocation) in respect of ST-2 Transponders - K6B and K7B; shall be 1st July 2013 in respect of ST-2
                                                            Transponders - K5A and K5B.”

 

		2.	Insert in Article 14. Antrix-SingTel
                                         Agreement - Acknowledgement of Customer (a), Line 3 after - “...under an Agreement
                                         dated April 18, 2012; ‘read with Supplement Agreement (Amendment 1) dated June
                                         19, 2013 only for the...."

 

	3.		Replace
                                         Exhibit A, System Characteristics of the agreement with –

 

	ST-2 Txps.	 	Uplink Freq (GHz)	 	DnlinkFreq

(GHz)	 	Polarization

Uplink/Downlink
	K5A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K6A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K7A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K8A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K9A	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K5B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K6B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K7B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K8B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]
	K9B	 	[**Redacted**]	 	[**Redacted**]	 	[**Redacted**]

  

 

    	 

    	 

    

 

	INSAT ST2 / Ku / DTH / 01 / 2012	Amendment No. 1	Proprietary

 

 

 

[**Redacted**]

 

		4.	Insert in Exhibit B, Payment Schedule
                                         in Preamble of the agreement with - “The Monthly Recurring
Charges payable for 10 transponders of 54 MHz each is USD 1,791,667 per month (USD One million seven ninety one thousand six hundred
and sixty seven only)."

 

		5.	Replace in Exhibit B, Payment Schedule, Terms 1 of the agreement with - “Upon
signing the contract, read with Amendment no. 1 to the agreement, CUSTOMER will require to deposit with DOS a refundable interest
free caution deposit of INR 31.18 Cr (25% of annual provision rate payments (assuming INR-$ exchange rate as 58)) which shall be
returned..."

 

		6.	All other terms and conditions remain unchanged.

 

	For and On behalf of	For and On behalf of
	DEPARTMENT OF SPACE	CUSTOMER

 

			
	/s/ N. Prahlad Rao	 	 
	Authorised signatory	 	Authorised signatory
	Date 9.7.13	 	DateExhibit 10.4 

 

 

LICENSE FOR USE OF TRADEMARK/BRAND
THIS DEED OF TRADE MARK USAGE LICENSE made and
executed at Mumbai on 11th day of September 2009 BY & BETWEEN M/s. VIDEOCON
INDIA LIMITED A company incorporated under Companies Act, 1956 Represented through its authorized signatory Shri. Pradeep Kumar
S/o Nandlal Dhoot

 

    	 

    	 

    

 

 

Age : 49 Years, Occ: Business; R/o Dhoot Bunglow, Station Road,
 Aurangabad Hereinafter called and referred as "LICENSOR" which
expression unless contrary or repugnant to the context shall mean and include its successors and assigns, hereinafter called of
the One Part; AND Bharat Business Channel Limited, a Company incorporated under the provisions of Companies Act, 1956, having
its registered office at 171, C Wing, Mittal Court, Nariman Point, Mumbai - 400 021 herein referred to as "BBCL" (which
expression shall mean and deemed to include its directors, successors in business, subsidiaries, permitted assigns if any) Hereinafter
called and referred as "LICENSEE" which expression unless contrary or repugnant to the context shall mean and include
its successors and assigns, hereinafter called of the other Part; WHEREAS the LICENSOR is exclusive owners of the trademark(s)
the said trade mark is specifically shown in Schedule-A, herein under. AND WHEREAS the LICENSEE is about to carry the business
of Direct to Home Services across India under the license issued by the Ministry of information Broadcasting and any other permitted
business in articles of association of BBCL Company including but not limited to consumer durables business.

 

    	 

    	 

    

 

 

AND WHEREAS the LICENSOR'S said trademark have gained vide publicity
and goodwill in the market therefore the LICENSEE suo-moto approached to LICENSORS and requested for permission to non-exclusive
use LICENSORS said trademark for its ( Licensee's) DTH business against payment of License Fees.. 
AND WHEREAS the LICENSORS have considered and accepted proposal of Licensee and subject to reasonable restrictions and on the
below mentioned terms and conditions agreed to allow to use the said Registered trademark(s) by the LICENSEE for its use in to
the extent of its DTH business including but not limited in advertising, marketing, promotions, products, services, website, bills,
documents and all related DTH business materials.  NOW THEREFORE THIS DEED WITNESSETH AS UNDER: 1. Licensor, subject to
terms and conditions mentioned herein, do hereby grant, permit, allow to non- exclusively use the present trademark, brand, logos,
design, colour, scheme, appearances and of brands described in Schedule-A, to Licensee for its use in only for its DTH business
including but not limited in its advertising, marketing, promotions, products, services, website, bills, documents and all related
DTH business materials . 2. The License fees is to be paid at the end of each financial year from FY 2010-2011. In view of the
request of Licensee that the DTH business has been just started and shall take some time to begin full fledged operations, there
shall be no License fees for the F.Y 2009-2010 thereafter for period of 3 years to be counted from F.Y 20102011 License fees shall
be Rs. 5,00,000/- per Year, net of all taxes, thereafter Parties shall mutually decide future term of License term and amount
of the License Fees.

 

    	 

    	 

    

 

 

3. It agreed that the Licensee shall be entitled to only for specifically
permitted brand names, as specifically mentioned in Schedule-A for DTH business in INDIA only and for any other Brand Name and
Modification thereof the fresh License shall be required.  4. Licensee
undertake for prompt payment of agreed license fees in future and non payment of the same shall grant Licensor exclusive right
to terminate this agreement. 5. The licensee shall not use the said trademark for any illegal activity. If unauthorized use is
noticed by Licensor then the Licensor at it's sole discretion may terminate agreement and prohibit further use of Trademarks 6.
The Licensee shall not sub-License the said trademark to any other party or use the brand name for other business or contrary
to terms of this agreement, if this condition is breached then the Licensor at it's sole discretion may terminate agreement, without
any notice. 7. The Licensor shall be entitled to give such rights to use trademark to any other party without written consent
of BBCL. 8. The Licensee Agrees to Keep Indemnified Licensor for breach of the terms of License. 9. The Licensee shall not misuse,
misrepresent or breach any Law if any action is initiated out of such act/omission of Licensee then Licensee Shall Keeep Licensor
harmless and indeminified. 10. In Case of Dispute Aurangabad court shall have exclusive jurisdiction.

 

    	 

    	 

    

 

 

9. The Licensee Agrees to Keep Indemnified Licensor for breach
of the terms of License.  10. The Licensee shall not misuse, misrepresent
or breach any Law if any action is initiated out of such act/omission of Licensee then Licensee Shall Keeep Licensor harmless
and indeminified. 11. In Case of Dispute Aurangabad court shall have exclusive jurisdiction. SCHEDULE-A 1) "
VIDEOCON " and its all appearances, colours, design, presentation
2) "V" logo and its all appearances, colours,
design, presentation. 3) All
subsequent modification of aforesaid. IN WITNESS
WHEREOF the parties have executed this Deed of Assignment at the place and date hereinabove mentioned. EXECUTED on this day of
2009 on behalf of the LICENSOR by the undersigned authorized officer thereof in the presence of witnesses Sign: Name: Designation:
EXECUTED at this day of 2009 on behalf of the LICENSEE by the undersigned authorized officer

 

    	 

    	 

    

 

 

thereof
in the presence of witnesses Sign: Name: Designation: WITNESSES:- 1. Name:- 2. Name:-

 

    	 

    	 

    
 

 

LICENSE DEED FOR USE OF TRADEMARK THIS LICENSE DEED FOR USE OF
TRADE MARK ("Agreement”) made and executed at Mumbai
on 01st day of April, 2013 by and between: CE INDIA LIMITED, a Company incorporated under the provisions of Companies Act,
1956, having its registered office at Auto Cars Compound, Adalat Road, Aurangabad - 431005, Maharashtra, Hereinafter called and
referred as “LICENSOR” (which expression shall unless repugnant to the context means and includes its representatives,
administrators, successors, affiliates, group companies, subsidiaries, sister concerns and permitted legal assigns), of the One
Part; AND BHARAT BUSINESS CHANNEL LIMITED, a incorporated under the provisions
of the Companies Act, 1956 and having its Corporate Office at 1st Floor, Techweb Centre, New Link Road, Near Mega Mall, Oshiwara,
Mumbai-400 102 and having its Head End Office at Plot No. ID, Udyog Vihar, Industrial Area, Greater Noida, District Gautam Budh
Nagar (UP) -201 301 hereinafter referred to as “LICENSEE” (which expression shall unless repugnant to the context
means and includes its representatives, administrators, successors, affiliates, group companies, subsidiaries, sister concerns
and permitted legal assigns) of the OTHER PART.

 

    	 

    	 

    

 

 

WHEREAS the
LICENSOR is exclusive owners of the trademark(s) the said trade mark is specifically shown in Schedule-A, herein
under. AND WHEREAS the LICENSEE and LICENSOR had executed a License Deed dated 11th September
‘2009 for use of Licensor’s Trademark(s) till 31st March, 2013. The parties are now desirous to extend
the term further by executing this fresh agreement to continue the understanding further during the renewed term hereunder. AND
WHEREAS the LICENSEE is carrying the business of Direct to Home Services across India under the license issued by the Ministry
of Information Broadcasting, Government of India and may decide to carry any other permitted business in Articles of Association
of the LICENSEE Company including but not limited to consumer durables business. AND WHEREAS the LICENSOR’S said
trademark have gained wide publicity, credit and goodwill in the market therefore the LICENSEE proposed to LICENSORS and requested
for permission to non-exclusive use LICENSORS said trademark for its ( Licensee’s) business against payment of consideration
towards License Fees. AND WHEREAS the LICENSOR has accepted proposal of Licensee and subject to reasonable restrictions
and on the below mentioned terms and conditions delegates, conveys, assigns right to use all registered trademarks along with
trademarks under the process of registration to the LICENSEE in all its business related activities including but not limited
in advertising, marketing, promotions, products, services, website, bills, documents and all related business materials for a
term of FIVE (05) years from the date of execution hereof which term may be extended for a further period by a mutual agreement
of both the parties hereto. 

 

    	 

    	 

    

 

 

NOW THEREFORE THIS DEED WITNESSETH AS UNDER:
1. Licensor, subject to terms and conditions mentioned herein, do hereby grant, permit, allow non- exclusive, non-sub-licensable
right to use the present trademark, brand, logos, design, colour, scheme, appearances and of brands described in Schedule-A,
to Licensee in all its permitted businesses including but not limited in its advertising, marketing, promotions, products,
services, website, bills, documents and business materials. The term of this renewal will be effective from 01st April,
2013 and will expire on 31st March, 2018, unless mutually further extended by the Parties hereto. 2. Licensor,
against receipt of License fees of Rs. 5,00,000/- (Rupees Five Lakhs Only) for the first term from (01st April, 2013
to 31st March, 2014) and Rs. 7,00,000/- (Rupees Seven Lakhs Only) for the remainder term from (01st April,
2014 to 31st March, 2018) net of applicable taxes, do hereby grant, permit, allow to non- exclusively use the present
and future trademark, brand, logos, design, colour, scheme, appearances and all that of described in Schedule- A by Licensee
for its use in all its DTH business related activities including but not limited in advertising, marketing, promotions, products,
services, website, bills, documents and all related business materials and also for its similar use in respect of any other business
of the Licensee under its Articles of Association. The License fee is to be paid at the end of each financial year. 3. The
Licensee shall also be entitled to use all subsequent changes, brand names, modification, and rectification of said brands, if
any. 4. Licensee undertakes to make prompt payment of agreed license fees and nonpayment of the same shall grant Licensor
the right to notify the Licensee about such default and the Licensee shall ensure the compliance within a period of 15 days failing
which the Licensor may suspend the rights so granted under this agreement till such time the Licensee does not remit the fee.
5. The licensee shall not use the said trademarks for any illegal activity. If unauthorized use is noticed by Licensor
then the Licensor at it’s sole discretion may notify the Licensee about the same and the Licensee shall comply with such
requisition of the Licensor, failing which the Licensor may suspend the rights granted hereunder.

 

    	 

    	 

    

 

 

6. Both
the Parties shall be entitled to mutually terminate this Agreement by giving ninety (90) days prior written notice. 7. The
Licensor shall be entitled to give such rights to use trademarks to any other party without written consent of LICENSEE, however
in no case the Licensor shall grant such License to other DTH Service provider. 8. The Parties agree to Keep Indemnified
each another for breach of the terms of License by either of the party. 9. The Licensee shall not misuse, misrepresent
or breach any Law if any action is initiated out of such act/omission of Licensee then Licensee Shall Keep Licensor harmless and
indemnified. 10. In Case of Dispute Aurangabad court shall have exclusive jurisdiction. IN WITNESS WHEREOF the parties
have executed this Deed at the place and date hereinabove mentioned. EXECUTED on this day of 2013 on behalf of the LICENSOR
by the undersigned authorized officer thereof in the presence of witnesses Sign: Name: Designation: EXECUTED at this
day of 2013 on behalf of the LICENSEE by the undersigned authorized officer thereof in the presence of witnesses Sign:
Name: Designation: WITNESSES:- 1. Name:- 2. Name:- 

 

    	 

    	 

    

 

 

SCHEDULE-A
1) "
VIDEOCON “ and its all appearances, colours, design, presentation 2) "V”
logo and its all appearances, colours, design, presentation. 3) All subsequent
modification of aforesaid.

 

    	 

    	 

    
 

 

ADDENDUM TO AGREEMENT FOR LICENSE DEED FOR USE OF
TRADEMARK / BRAND DATED APRIL 2013
THIS LICENSE DEED FOR USE OF TRADE MARK (“Agreement”) made and executed at Mumbai on 15th day of October, 2014
by and between: LIMITED. a Company incorporated under the provisions of Companies Act, 1956, having its registered office at Auto
Cars Compound, Adalat Road, Aurangabad - 431005, Maharashtra, Hereinafter called and referred as “LICENSOR” (which
expression shall unless repugnant to the context means and includes its representativcs, administrators, successors, affiliates,
group companies, subsidiaries, sister concerns and permitted legal assigns), of the One Part; AND
VIDEOCON D2H LIMITED, formerly Bharat Business Channel Limited, a incorporated under the provisions of the Companies
Act, 1956 and having its Corporate Office at 1st Floor, Techweb Centre, New Link Road, Near Mega Mall, Oshiwara, Mumbai-400 102
and having its Head End Office at Plot No. ID, Udyog Vihar, Industrial Area, Greater Noida, District Gautam Budh Nagar (UP) -201
301 hereinafter referred to as “LICENSEE" (which expression shall unless repugnant to the Context means and
includes its representatives, administrators, successors, affiliates, group companies, subsidiaries, sister concerns and permitted
legal assigns) of the OTHER PART. 

 

    	 

    	 

    

 

 

    	 

    	 

    

 

 

WHEREAS the
LICENSOR is exclusive owners of the trademark(s) the said trade mark is specifically shown in Schedule-A, herein
under. AND WHEREAS the LICENSEE is carrying the business of Direct to Home Services across India under the license issued
by the Ministry of Information Broadcasting, Government of India and may decide to carry any other permitted business in Articles
of Association of the LICENSEE Company including but not limited to consumer durables business. AND WHEREAS the Licensor
and the Licensee has executed the License Agreement dated 1st April 2013 whereby Videocon d2h Limited (VDL) has renewed the acquisition
of rights and license to use trademark, brand, logos, design, colour, scheme and appearance of brand for the period of 5 years
from financial year 2013 14 on payment of License fees mentioned therein from C E India Limited. AND WHEREAS now the Parties
hereto are desirous of extending the period of the said license be up to March 31, 2022. NOW
THEREFORE THIS DEED WITNESSETH AS UNDER: 1. The recital pertaining to the Term as mentioned in the Agreement dated 1st
April 2013 shall be amended to delete the term of 5 years and shall be replaced with the term of up to March 31, 2022. The Agreement
dated 1st April 2013 shall continue till March 31, 2022. IN WITNESS WHEREOF the parties have executed this Deed at the
place and date hereinabove mentioned. EXECUTED on this day of October 15, 2014 on behalf of the LICENSOR by the
undersigned authorized officer thereof in the presence of witnesses Sign: Name: Designation: EXECUTED at this day of October
15, 2014 on behalf of the LICENSEE by the undersigned authorized officer thereof in the presence of witnesses Sign: Name:
Designation: WITNESSES:- 1. Name:- 2. Name:- 

 

    	 

    	 

    

 

 

Schedule
A 1 “VIDEOCON” and all its appearances, colours, design, presentation.
2. “V” logo and its all appearances, colours, design, presentations. 3. All subsequent modification of aforesaid.

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