Tue. Nov 24th, 2020

Metaffinity Private Limited & … vs Religare Enterprises Limited & … on 28 May, 2018

1 min read

2. The brief facts leading to the filing of this petition, as alleged, are
as under:-
a) on 09.04.2017, the SPA was executed amongst the petitioner
No.1, M/s. Faerig Capital India Evolving Fund and one Shree Nirman
Limited for sale of all the shares of the respondent No.2 held by the
respondent No.1 to the petitioner No.1 and other purchasers for an agreed
sale consideration (as defined in the SPA) which shall mean the amount
equal to the aggregate consideration (i.e. 1300 Crores) multiplied by the
ratio the sale shares bear to the total number of shares on the closing date
on a fully diluted basis payable in the proportion set out in Schedule III
of the SPA by each of the purchasers to the respondent No.1 for the
purchase of sale shares, on the terms and conditions as specified in SPA;

Source: Indian Kanoon

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