Affidavit and Acknowledgement of Debt by Prithvi Information Solutions Towards Kyko Global Inc.
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ui/ C 279203
S BHARATH KUMAR
Licenced Stamp Vendor
H.No: 1-88/1, GuttalaBegump^
Madbapur. SeriiinQampally (M), R.R-
Affidavit and Acknowledgement of Debt
I,gMr. Satish Vuppalapati, age 38 years, occupation Business, residing at 96,
Chikoti Gardens,Begumpet,Hyderabad do hereby state on solemn affirmation
1) I am the Managing Director and authorized signatory of Prithvi
Information Solutions Ltd., an Indian company (hereinafter, Prithvi).
2) Certain guarantees were signed by debtors, including myself, in favour of
Kyko Global Inc. and Kyko Global Gmbh (hereinafter collectively
referred to as Kyko) to secure debt obligations and liabilities owed to
3) Prithvi acknowledges and agrees that as of June 25, 2013, for good and
valuable consideration, We are indebted to Kyko in the amount of
$18,000,000.00 plus legal fees, costs, and interest calculated weekly on
the total amount at the rate of 2.45% per month beginning on June 25,
4) Prithvi agrees to pay the amount stated in paragraph 2 as demanded by
5) Prithvi acknowledges and agrees that Prithvi has executed a Confession of
Judgment in favour of Kyko in the United States for the purposes of the
enforcement of such Judgment by the Courts at Hyderabad of India, a
true copy of which is attached and marked as Exhibit "A" to this
Affidavit, and that this Confession of Judgment is binding on us.
6) Prithvi acknowledges and agrees that a lawsuit may be initiated by Kyko
in India based on the Confession of Judgment.
7) Prithvi acknowledges and agrees that Kyko may rely on this Affidavit to
obtain a Judgment against us for the indebtedness we owe to Kyko which
we have acknowledged in this Affidavit.
8) Prithvi acknowledges and agrees that we will not raise the defenses
mentioned in section 13 of Civil Procedure Code of 1908, and we will
acknowledge our debt to Kyko as stated in paragraph 2, above, in any
Court in, Hyderabad, Andhra Pradesh, India, should Kyko initiate a lawsuit
to recover this debt.
9) Prithvi agree to cooperate and facilitate the enforcement of a judgment
based on the debt obligation.
I confirm that I ammaking theaffidavit onoath to facilitate theenforcement of
a foreign judgment in India, and I am aware of the conditions of the sameand
above shall be binding upon me at all times.
Whatever above stated is true and correct to the best of my knowledge, belief
and information and I have signed this affidavit on this 19th day of July, 2013 at
Hyderabad,Andhra Pradesh India.
Prithvi Information solutions LTD
V- / MADHAPUR,
T. PAE tf^DMAJA
NOTARY G.O.M.S. No: 2742
ANDHRA PRADESH, INDIA,
COMMISSION EXPIRES ON 26 DEC-2016