MERGER AGREEMENT
We, (1)…………………. (2) …………..………… (3) ……………… (4)…………….
(5)………………… partners of (1) A Consortium (2) B Consortium (3) C Consortium
…………………… execute this Merger Agreement on this ____ day of ______, at
___________:
1. A Consortium, a Partnership/Proprietorship consortium of Distributors having its
registered Head Office at __________, duly registered under Business Name no:
_________ (which expression shall include its successors, heirs and assigns).
2. B Consortium, a Partnership/Proprietorship consortium of Distributors having its
registered Head Office at __________, duly registered under Business Name no:
_________ (which expression shall include its successors, heirs and assigns).
3. C Consortium, a Partnership/Proprietorship consortium of Distributors having its
registered Head Office at __________, duly registered under Business Name no:
_________ (which expression shall include its successors, heirs and assigns).
4. That this merger will come into force on the ____ of______ 20__, where after, the
merging consortium i.e. A, B and C Consortium cease to exist and a separate partnership
deed be executed on the_____________ amongst the partners of the merged
Consortium to create the new consortium
5. That the following persons are the partners of the merged consortium:
1. Mr. ___________________ Membership No. ________
2. Mr. ___________________ Membership No. ________
3. Mr. ___________________ Membership No. ________
4. Mr. ___________________ Membership No. ________
5. Mr. ___________________ Membership No. ________
We, all the partners of the merged Consortium ……………………………………………
understand that this merger has the following consequences in pursuance to the decision of the
constitution of the business
1. That the name of the merging Consortium will be registered under Business Names
2. And in case 75% or more of the continuing partners of one or more erstwhile merging
Consortium(s) are willing to demerge, they may demerge after giving due notice and will be
entitled to the following benefits :
(i) They shall be entitled to the total seniority acquired i.e. their earlier pre-merger
seniority and the years during which they were in merged Consortium.
(ii) They are entitled to their old Consortium’s name. Provided in case, 75% is a fraction,
then the same shall be rounded off to the next number.
(iii) No decision shall be made without consensus of all partners of the consortium and if
no consensus is reached then the decision shall be by majority.
2. That the date of establishment of the new demerged Consortium shall be the date of
demerger.
3. That to effectuate such demerger, no concurrence/acceptance is required from the other
continuing partners of the merged Consortium. The partners of such demerged Consortium
shall execute a partnership deed.
4. The merged Consortium as well as the demerged Consortium shall submit notice to all
clients of the consortium within the prescribed period.
5. In case of 75% or more of the continuing partners of one of the erstwhile merging
Consortium have demerged after giving due notice to the other partners, then in such case,
the merger shall come to an end and if the remaining erstwhile merging
Consortiums/partners of the erstwhile merged Consortium decided to continue, then they
should enter into a fresh Merger/Partnership Agreement and ensure that the same is
registered
6. That the demerger in the manner hereinbefore mentioned can be demanded only within a
period of 5 years from the date of merger.
IN WITNESS WHEREOF, the Partners of the Merged Consortium
1. Mr. ___________________ Membership No. ________ Sign _____________
2. Mr. ___________________ Membership No. ________ Sign _____________
3. Mr. ___________________ Membership No. ________ Sign _____________
4. Mr. ___________________ Membership No. ________ Sign _____________
5. Mr. ___________________ Membership No. ________ Sign _____________
HERETO set their hands on this agreement in the presence of the witnesses.
WITNESSES:
(i) ___________________
(ii)___________________
(iii)___________________
(iv)__________________
(v) ___________________
