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Seller & Buyer

Identity details of Seller and Buyer entities or individuals.

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Stamp Margin Top: 90mm
GOVERNMENT OF INDIA • STATE OF KARNATAKA
NON-JUDICIAL STAMP PAPER — VALUE As applicable in the State
[Leave top 90mm blank space when printing directly onto physical Stamp Paper]

BUSINESS SALE AGREEMENT

(AGREEMENT FOR PURCHASE AND TRANSFER OF BUSINESS AS A GOING CONCERN • PRICE: Rs. 35,00,000 (Thirty-Five Lakhs Only))

This BUSINESS SALE AGREEMENT is made and entered into on this 1 August 2026 at Bengaluru, Karnataka, by and between:

1. THE SELLER / TRANSFEROR (PARTY OF THE FIRST PART):

Vikram Singhania (Proprietor, Royal Crest Enterprises), located/residing at Shop 14, Commercial Complex, M.G. Road, Bengaluru, Karnataka 560001.

(hereinafter referred to as the "SELLER", which expression shall, unless repugnant to the context or meaning thereof, include his/her legal heirs, executors, administrators and permitted assigns).

AND

2. THE BUYER / PURCHASER (PARTY OF THE SECOND PART):

Horizon Commercial Ventures Pvt Ltd, having registered office at Plot 22, Indiranagar 100ft Road, Bengaluru, Karnataka 560038.

(hereinafter referred to as the "BUYER", which expression shall, unless repugnant to the context or meaning thereof, include its successors, legal representatives and permitted assigns).

WHEREAS the Licensor is the sole absolute legal owner of the residential property situated at:

BUSINESS BEING TRANSFERRED: "Royal Crest Retail & Distribution" (Retail & Distribution Business) | TOTAL PRICE: Rs. 35,00,000 (Thirty-Five Lakhs Only) | HANDOVER DATE: 1 September 2026

WHEREAS the Seller is the absolute and lawful owner of the running business enterprise known as "Royal Crest Retail & Distribution"; AND WHEREAS the Seller has agreed to sell, transfer, and assign the business as a going concern, along with all specified assets, goodwill, and operational rights, and the Buyer has agreed to acquire the same on the covenants set forth hereunder:

TERMS AND CONDITIONS OF BUSINESS SALE:

1. TRANSFER OF BUSINESS AS A GOING CONCERN:
The Seller agrees to sell, convey, and assign to the Buyer the business enterprise known as "Royal Crest Retail & Distribution" (Retail & Distribution Business) as a going concern, free from undisclosed liens.
2. PURCHASE CONSIDERATION & PAYMENT TIMELINE:
The total agreed sale price payable by the Buyer to the Seller is Rs. 35,00,000 (Thirty-Five Lakhs Only), payable in full on or before the handover date (1 September 2026) via RTGS / demand draft.
3. ASSETS, INVENTORY & GOODWILL INCLUDED:
The sale includes all rights, title, and interest in: Inventory stock, shop fixtures, POS hardware, customer list, brand trade name, domain name, and existing commercial lease..
4. ALLOCATION OF LIABILITIES & DEBTS:
With respect to outstanding commercial liabilities, statutory tax arrears, and operational debts: No — Seller retains all existing liabilities and debts.
5. HANDOVER DATE & TRANSITIONAL SUPPORT:
Complete operational and physical handover of the business premises and records shall occur on 1 September 2026. The Seller shall provide 30 days of reasonable transition assistance.
6. NON-COMPETE & NON-SOLICITATION COVENANT:
The Seller covenants that for a period of 3 Years within 25 km Radius, the Seller shall not directly or indirectly engage in, manage, or finance any competing enterprise or solicit existing clients.
7. INDEMNITY FOR PRE-HANDOVER LIABILITIES:
The Seller shall indemnify and hold harmless the Buyer against any tax demands, vendor claims, or third-party liabilities arising out of operations prior to the handover date.
8. GOVERNING LAW & JURISDICTION:
This Agreement shall be governed by the laws of India and subject to the exclusive jurisdiction of the competent civil courts situated at Bengaluru.
9. WITNESS EXECUTION:
This Business Sale Agreement is executed in the presence of the following independent witnesses: • Witness 1: ____________________ (Residing at: ____________________) • Witness 2: ____________________ (Residing at: ____________________)
Place / Location: ______________________Date of Execution: ______________________

IN WITNESS WHEREOF, the Seller and the Buyer have executed this Business Sale Agreement through their authorized signatories on the day, month and year first above written.

SELLER / TRANSFEROR

Vikram Singhania (Proprietor, Royal Crest Enterprises)

SELLER / TRANSFEROR

BUYER / PURCHASER

Horizon Commercial Ventures Pvt Ltd

BUYER / PURCHASER

WITNESS 1:

Name: ______________________

Signature: ___________________

WITNESS 2:

Name: ______________________

Signature: ___________________

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