[IMAGE OF A TWENTY RUPEE NOTE]
THIS AGREEMENT made at Mumbai this 9th day of January 1996 between:
REDIFFUSION ADVERTISING PRIVATE LIMITED being a private limited company registered under the
Companies Act, 1956, having its registered office at Sterling Center, 4th floor, Dr. Annie Besant Road, Worli,
Bombay 400 018 hereinafter referred to as RAPL of the first part;
MR. AJIT BALAKRISHNAN of Mumbai Indian inhabitant residing at 26D Sagar Sangeet, 58, Shahid
Bhagatsingh Marg, Colaba Bombay 400 005 hereinafter referred to as AB of the second
DIWAN ARUN NANDA of Mumbai Indian Inhabitant residing at 15, Tarangini Apartments, Veer Savarkar
Marg, Bombay 400 025 hereinafter referred to as DAN of the third part.
A. The parties hereto had entered into an agreement dated 1st November 1995 (hereinafter called the "PRIOR
AGREEMENT") wherein the Parties had inter alia recorded their intention to promote and incorporate a limited
company under the provisions of the Companies Act, 1956 to carry on the business of providing online
information services, advertising and publicity and other services thereof on behalf of their clients with the name
Rediff Communication Private Limited (hereinafter referred to as THE COMPANY) or such other name as may
be permitted by the Registrar of Companies and to share the expenses and fund the Company in the manner
stated in the Prior Agreement;
B. The Company was incorporated on January 9, 1996.
C. Following the incorporation of the Company, the Parties have been able to broadly ascertain the quantum of
funding that will be required and are now desirous of recording the same.
NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1. The Parties agree that the sums to be advanced to the Company by the Parties having regard to the proposed
growth and business plan of the Company shall be capitalized by a sum not exceeding Rs. 2,50,00,000/-
(Rupees two crores fifty lakhs) prior to additional fu