DESCRIPTION OF ORAL AGREEMENT TO AMEND THE SHARE EXCHANGE AGREEMENT
EXHIBIT
10.17
DESCRIPTION
OF ORAL AGREEMENT TO AMEND
On
September 10, 2010, the parties to the Share Exchange Agreement (hereinafter
referred to as this “Agreement”) entered
into on September 10, 2010, by and among ORB Automotive Corporation (f/k/a
Action Acquisition Corporation), a Cayman Islands exempted company, whose
registered office address is at c/o Stuarts Corporate Services Ltd. X.X. Xxx
0000, Xxxxx Xxxxxx XX0-0000, Xxxxxx Xxxxxxx and its controlling
shareholders Skyline Investors, LLC and Nautilus Global Partners, LLC, and Grand
Power Capital, Inc., a British Virgin Islands business company whose address is
Akara Bldg., 00 Xx Xxxxxx Xxxxxx, Xxxxxxxx Cay 1, Road Town, Tortola, British
Virgin Islands (hereinafter referred to as “GPC”) and the
shareholders of GPC: Apollo Enterprises International, Inc., Aubo
Automobile, Inc., Universal Kingdom International, Ltd., Golden Grand
Enterprises, Ltd., Good Energy Enterprise, Ltd., Huge Pine Development, Ltd.,
agreed to remove Schedule 4.01(c) to the Agreement, as the information provided
therein was redundant and contained on Schedule 4.01(a) of the
Agreement.