STIPL definition
Examples of STIPL in a sentence
The Company and STIPL have complied with all obligations as to filing of returns, particulars, resolutions and other documents with its jurisdictional Registrar of Companies, as required under Applicable Law in all material respects.
There are no options, warrants, rights, subscriptions, claims of any character, agreements, obligations, convertible or exchangeable Securities, or other commitments contingent or otherwise, no outstanding or authorized stock appreciations, phantom stock, profit participation or similar rights relating to the Share Capital of the Company or STIPL, or other equity or voting interest in, the Company or STIPL pursuant to which they are or may become obligated to issue Securities.
The Company Group shall commit to incur the Transaction Expenses (including taking steps which impact the quantum of the Transaction Expenses like the value at which the STIPL Undertaking is to be transferred as contemplated pursuant to this Agreement) only upon the written consent of the Investor, which consent shall not be unreasonably withheld, conditioned or delayed.
Immediately after the Closing, the holding of each shareholder in the Share Capital of the Company and STIPL will be as stated in Part B of Schedule 1 (Shareholding Pattern) to this Agreement.
It is hereby clarified that each nominee shareholder shall hold only 1 (one) Share of the Company or STIPL, as the case may be and as of the Closing Date, the overall shareholding of the Investor (taken together with its nominees) shall be 50.1% of the Share Capital and that of Sanmina Singapore (taken together with its nominees) shall be 49.9% of the Share Capital.
STIPL has no subsidiaries and does not own any direct or indirect equity, voting or ownership interest in any company, partnership or other legal entity.
The authorized share capital of STIPL as on the Execution Date is INR 1,018,167,430/- (Indian Rupees One Hundred and One Crores Eighty One Lacs Sixty Seven Thousand Four Hundred and Thirty only) divided into 101,816,743 equity shares having face value of INR 10 (Indian Rupees Ten only).
All direct and/or indirect foreign investments received by the Company and STIPL, have been received in accordance with Applicable Laws in all material respects and all consents required to be taken and filings required to be made under Applicable Laws in relation to such investments have been complied with.
The only Directors of the Company Group are the persons whose names are listed in Appendix A of this Schedule 3 and the Company and STIPL do not have any shadow Directors.
The Company and STIPL are (and has always been) entitled to receive 100% (one hundred percent) foreign direct investment under the automatic route and no Approval from any Governmental Authority is required for receipt of foreign investment in the Company or STIPL.