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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;WASHINGTON, D.C. 20549&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of Earliest Event Reported):<B>
<U>February 24, 2012</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>GBS ENTERPRISES INCORPORATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Exact Name of Registrant as Specified
in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 33%; text-autospace: none; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 34%; text-autospace: none; font-weight: bold; text-align: center">000-53223</TD>
    <TD STYLE="width: 33%; text-autospace: none; font-weight: bold; text-align: center">27-3755055</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">(State of Incorporation)</TD>
    <TD STYLE="text-autospace: none; text-align: center">(Commission File No.)</TD>
    <TD STYLE="text-autospace: none; text-align: center">(IRS Employer Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>585 Molly Lane</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Woodstock, GA 30189</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(404) 474-7256</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Registrant's Telephone Number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Copies to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;Philip Magri, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The Sourlis Law Firm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">130 Maple Avenue, Suite 9B2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;Red Bank, New Jersey 07701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;Direct Dial: (646) 373-7430</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">T: (732) 530-9007</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;F: (732) 530-9008</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">philmagri@sourlislaw.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;www.SourlisLaw.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 13%; text-autospace: none; font-weight: bold">Item 5.02</TD>
    <TD STYLE="width: 87%; text-autospace: none; font-weight: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 24, 2012, the Board of Directors
appointed Markus Ernst as the Chief Financial Officer (Principal Financial Officer) of GBS Enterprises Incorporated, a Nevada corporation
(the &ldquo;Company&rdquo;), effective February 24, 2012.&nbsp; Mr. Ernst replaced Ronald J. Everett who had been serving as the
Company&rsquo;s Chief Financial Officer since August 2, 2010. Mr. Everett resigned as Chief Financial Officer on February 27, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U>Business Experience</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Markus
Ernst (43 years old) has 20 years of experience in the financial sector of several industries in public and private companies.&nbsp;He
has extensive knowledge in both national and international finance and mergers and acquisitions. Since July 201, Mr. Ernst has
been serving as a professional consultant to the Management Board of GROUP Business Software AG, a </FONT>German-based public-company
whose stock trades on the Frankfurt Exchange under the stock symbol &ldquo;INW&rdquo; and which is a <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">50.1%
owned subsidiary of the Company (&ldquo;GROUP&rdquo;). From August 2000 to June 2011, Mr. Ernst served as the Chief Financial Officer
of GROUP. In November 1995, Mr. Ernst worked as a Financial Analyst in corporate management for Gesellschaft f&uuml;r Zahlungssysteme
GmbH (&ldquo;GZS&rdquo;), a privately held banking transaction processing company that now belongs to First Data Corp. (NYSE: FDC).
As a senior executive and Head of Corporate Control for GZS, he was responsible for corporate planning and control. From October
1994 to October 1995, Mr. Ernst worked as a Head of Financial Operations for Seagram Germany, a subsidiary of Seagram Company Ltd.,
Montreal, Canada. From September 1992 to June 1994, Mr. Ernst worked as a Financial Analyst for IBM in Mainz, Germany and San Jose,
California. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><FONT STYLE="font-weight: normal">Mr.
Ernst has long time management experience in accounting, budgeting, board presentations, cash management, claims processing, financing,
investments, information systems, regulatory relations and strategic planning.&nbsp; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><FONT STYLE="font-weight: normal">In
October 1994, Mr. Ernst earned a Master&rsquo;s Degree in International Management and Industrial Engineering at the University
of Applied Science located in Mannheim, Germany and at the University of Applied Science in Ludwigshafen, Germany.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U>Family Relationships</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U></U><B>&nbsp;</B></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Mr. Ernst does not have a family relationship (defined in Item
401(d) of Regulation S-K as any relationship by blood, marriage, or adoption, not more remote than first cousin) with any director
or executive officer of the Company, or any person nominated or chosen by the Company to become a director of executive officer.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U>Transactions with Related Persons</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U></U>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U>Material Plan, Contract or Arrangement</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><U></U></I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black">Mr. Ernst has agreed
to serve as the Chief Financial Officer of the Company pursuant to a Consultant Services Agreement, dated February 24, 2012 (the
&ldquo;Agreement&rdquo;), between the Company and </FONT>Green Minds Venture GmbH<FONT STYLE="color: black">, a German corporation
indirectly wholly-owned by Mr. Ernst (the &ldquo;Vendor&rdquo;), for the initial term commencing on February 24, 2012 and terminating
on March 31, 2012 (the &ldquo;Term&rdquo;), unless </FONT>terminated earlier be Mr. Ernst and/or the Company pursuant to the terms
of the Agreement. Pursuant to the Agreement, after the Term, Mr. Ernst will continue serving as the Company&rsquo;s CFO on a six-month
to six-month basis until either party provides the other party written notice at least thirty (30) days prior to expiration of
the applicable term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">In consideration of the services to be rendered
during the Term, the Company has agreed to pay the Vendor a base monthly fee (&ldquo;Base Payment&rdquo;) of $11,450 plus any taxes,
such as a valued added tax (&ldquo;VAT&rdquo;), which shall be adjusted from time to time as determined by the Company or the Board
based upon the Company's performance as well as the Vendor meeting certain performance objectives. During the term, Vendor will
be eligible to earn bonuses as determined by the Board based upon Vendor&rsquo;s and the Company&rsquo;s performance as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 74.85pt">(i)&#9;$20,000
plus any taxes such as VAT, if the Company&rsquo;s stock is trading above $5.00 for a consecutive 3-month period prior to the end
of the Company&rsquo;s fiscal year ending March 31, 2012 and/or 2013;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 74.85pt">(ii)&#9;$30,000
plus any taxes such as VAT, if the Company&rsquo;s stock is trading above $7.50 for a consecutive 3-month period prior to the end
of Company&rsquo;s fiscal year ending March 31, 2013 and/or 2014;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 74.85pt">(iii)&#9;$25,000
plus any taxes such as VAT, if the Company is trading on the American Stock Exchange (AMEX) for a consecutive 3-month period, and
$50,000 plus any taxes such as VAT, if the Company&rsquo;s stock is trading on the NYSE or NASDAQ for a consecutive 3-month peirod;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 74.85pt">(iv)&#9;An annual
cash payment equal to 7% of the Company&rsquo;s fiscal year operating income (before taxes and bonuses) up to a maximum amount
of $250,000 plus any taxes such as VAT per each fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 0">The Company has also
agreed to grant the Vendor stock options to acquire 200,000 shares of the Company&rsquo;s common stock subject to the terms and
conditions of the Company&rsquo;s 2011 ESOP. The options have not been granted as of the filing of this Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 0">The Company shall pay
or reimburse Vendor for all reasonable business expenses including, without limitation, cell phones, personal digital assistants
(PDA) devices, business travel expenses, reasonably incurred or paid by Vendor in the performance of his responsibilities in accordance
with the Company's prevailing policy and practice relating to reimbursements as modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 0">The Vendor may terminate
the Agreement upon six months&rsquo; prior written notice or by payment to the Company of an amount equal to the Base Salary in
lieu of such notice under the Agreement at any time for any reason. In the event of a termination of the Agreement by the Vendor,
he shall be entitled to the Accrued Payments (as defined in the Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 30.6pt; margin-right: 0; margin-left: 0">The Company may terminate
the Agreement with or without &ldquo;Cause&rdquo; (as defined in the Agreement) at any time upon prior written notice to Vendor.
In the event of a termination of the Agreement for Cause, Vendor shall be entitled only to the Accrued Payments. In the event
the Company terminated the Agreement without Cause or if the Vendor terminates the Agreement with &ldquo;Good Reason&rdquo; (as
defined in the Agreement), the Company has agreed to pay the Vendor all Accrued Expenses as well as a Compensation Package (as
defined in the Agreement).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Agreement is filed as Exhibit 10.1 to this
Form 8-K and is incorporated by reference herein.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7.01 Regulation FD Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company issued the Press Release furnished
as Exhibit 99.1 to this 8-K on February 28, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) <U>Exhibits</U>.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; font-weight: bold; text-decoration: underline">Exhibit No.:</TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; font-weight: bold"><B><U>Description</U>:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">10.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">Consultant Services Agreement, dated February 24, 2012, between GBS Enterprises Incorporated and Green Minds Venture GmbH</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">Press Release, dated February 28, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 49.5pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; font-weight: bold; text-align: justify">GBS ENTERPRISES INCORPORATED</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 3%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 50%; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.1pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.1pt; text-autospace: none; text-align: justify">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-autospace: none; text-align: justify">&nbsp; &nbsp;/s/&nbsp;Joerg Ott</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 19.8pt; text-autospace: none">Joerg Ott</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 19.8pt; text-autospace: none">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 19.8pt; text-autospace: none">(Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; text-align: justify">Dated: February 28, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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{"company-data": {"conformed-name": "GBS Enterprises Inc", "cik": "0001413754", "assigned-sic": "5020", "irs-number": "000000000", "state-of-incorporation": "NV", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-53223", "film-number": "12647329"}, "business-address": {"street1": "585 MOLLY LANE", "city": "WOODSTOCK", "state": "GA", "zip": "30189", "phone": "404-474-7256"}, "mail-address": {"street1": "585 MOLLY LANE", "city": "WOODSTOCK", "state": "GA", "zip": "30189"}, "former-company": {"former-conformed-name": "Swav Enterprises Ltd.", "date-changed": "20070928"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
February 24, 2012
GBS ENTERPRISES INCORPORATED
(Exact Name of Registrant as Specified
in its Charter)
Nevada
000-53223
27-3755055
(State of Incorporation)
(Commission File No.)
(IRS Employer Identification No.)
585 Molly Lane
Woodstock, GA 30189
(Address of Principal Executive Offices)
(Zip Code)
(404) 474-7256
(Registrant's Telephone Number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Copies to:
Philip Magri, Esq.
The Sourlis Law Firm
130 Maple Avenue, Suite 9B2
Red Bank, New Jersey 07701
Direct Dial: (646) 373-7430
T: (732) 530-9007
F: (732) 530-9008
philmagri@sourlislaw.com
www.SourlisLaw.com
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 24, 2012, the Board of Directors
appointed Markus Ernst as the Chief Financial Officer (Principal Financial Officer) of GBS Enterprises Incorporated, a Nevada corporation
(the "Company"), effective February 24, 2012.  Mr. Ernst replaced Ronald J. Everett who had been serving as the
Company's Chief Financial Officer since August 2, 2010. Mr. Everett resigned as Chief Financial Officer on February 27, 2012.
Business Experience
Markus
Ernst (43 years old) has 20 years of experience in the financial sector of several industries in public and private companies. He
has extensive knowledge in both national and international finance and mergers and acquisitions. Since July 201, Mr. Ernst has
been serving as a professional consultant to the Management Board of GROUP Business Software AG, a
German-based public-company
whose stock trades on the Frankfurt Exchange under the stock symbol "INW" and which is a
50.1%
owned subsidiary of the Company ("GROUP"). From August 2000 to June 2011, Mr. Ernst served as the Chief Financial Officer
of GROUP. In November 1995, Mr. Ernst worked as a Financial Analyst in corporate management for Gesellschaft für Zahlungssysteme
GmbH ("GZS"), a privately held banking transaction processing company that now belongs to First Data Corp. (NYSE: FDC).
As a senior executive and Head of Corporate Control for GZS, he was responsible for corporate planning and control. From October
1994 to October 1995, Mr. Ernst worked as a Head of Financial Operations for Seagram Germany, a subsidiary of Seagram Company Ltd.,
Montreal, Canada. From September 1992 to June 1994, Mr. Ernst worked as a Financial Analyst for IBM in Mainz, Germany and San Jose,
California.
Mr.
Ernst has long time management experience in accounting, budgeting, board presentations, cash management, claims processing, financing,
investments, information systems, regulatory relations and strategic planning.
In
October 1994, Mr. Ernst earned a Master's Degree in International Management and Industrial Engineering at the University
of Applied Science located in Mannheim, Germany and at the University of Applied Science in Ludwigshafen, Germany.
Family Relationships
Mr. Ernst does not have a family relationship (defined in Item
401(d) of Regulation S-K as any relationship by blood, marriage, or adoption, not more remote than first cousin) with any director
or executive officer of the Company, or any person nominated or chosen by the Company to become a director of executive officer.
Transactions with Related Persons
None
Material Plan, Contract or Arrangement
Mr. Ernst has agreed
to serve as the Chief Financial Officer of the Company pursuant to a Consultant Services Agreement, dated February 24, 2012 (the
"Agreement"), between the Company and
Green Minds Venture GmbH
, a German corporation
indirectly wholly-owned by Mr. Ernst (the "Vendor"), for the initial term commencing on February 24, 2012 and terminating
on March 31, 2012 (the "Term"), unless
terminated earlier be Mr. Ernst and/or the Company pursuant to the terms
of the Agreement. Pursuant to the Agreement, after the Term, Mr. Ernst will continue serving as the Company's CFO on a six-month
to six-month basis until either party provides the other party written notice at least thirty (30) days prior to expiration of
the applicable term.
In consideration of the services to be rendered
during the Term, the Company has agreed to pay the Vendor a base monthly fee ("Base Payment") of $11,450 plus any taxes,
such as a valued added tax ("VAT"), which shall be adjusted from time to time as determined by the Company or the Board
based upon the Company's performance as well as the Vendor meeting certain performance objectives. During the term, Vendor will
be eligible to earn bonuses as determined by the Board based upon Vendor's and the Company's performance as follows:
(i)	$20,000
plus any taxes such as VAT, if the Company's stock is trading above $5.00 for a consecutive 3-month period prior to the end
of the Company's fiscal year ending March 31, 2012 and/or 2013;
(ii)	$30,000
plus any taxes such as VAT, if the Company's stock is trading above $7.50 for a consecutive 3-month period prior to the end
of Company's fiscal year ending March 31, 2013 and/or 2014;
(iii)	$25,000
plus any taxes such as VAT, if the Company is trading on the American Stock Exchange (AMEX) for a consecutive 3-month period, and
$50,000 plus any taxes such as VAT, if the Company's stock is trading on the NYSE or NASDAQ for a consecutive 3-month peirod;
(iv)	An annual
cash payment equal to 7% of the Company's fiscal year operating income (before taxes and bonuses) up to a maximum amount
of $250,000 plus any taxes such as VAT per each fiscal year.
The Company has also
agreed to grant the Vendor stock options to acquire 200,000 shares of the Company's common stock subject to the terms and
conditions of the Company's 2011 ESOP. The options have not been granted as of the filing of this Form 8-K.
The Company shall pay
or reimburse Vendor for all reasonable business expenses including, without limitation, cell phones, personal digital assistants
(PDA) devices, business travel expenses, reasonably incurred or paid by Vendor in the performance of his responsibilities in accordance
with the Company's prevailing policy and practice relating to reimbursements as modified from time to time.
The Vendor may terminate
the Agreement upon six months' prior written notice or by payment to the Company of an amount equal to the Base Salary in
lieu of such notice under the Agreement at any time for any reason. In the event of a termination of the Agreement by the Vendor,
he shall be entitled to the Accrued Payments (as defined in the Agreement)
The Company may terminate
the Agreement with or without "Cause" (as defined in the Agreement) at any time upon prior written notice to Vendor.
In the event of a termination of the Agreement for Cause, Vendor shall be entitled only to the Accrued Payments. In the event
the Company terminated the Agreement without Cause or if the Vendor terminates the Agreement with "Good Reason" (as
defined in the Agreement), the Company has agreed to pay the Vendor all Accrued Expenses as well as a Compensation Package (as
defined in the Agreement).
The Agreement is filed as Exhibit 10.1 to this
Form 8-K and is incorporated by reference herein.
Item 7.01 Regulation FD Disclosure
The Company issued the Press Release furnished
as Exhibit 99.1 to this 8-K on February 28, 2012.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
.
Exhibit No.:
Description
:
10.1
Consultant Services Agreement, dated February 24, 2012, between GBS Enterprises Incorporated and Green Minds Venture GmbH
99.1
Press Release, dated February 28, 2012
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
GBS ENTERPRISES INCORPORATED
By:
/s/ Joerg Ott
Joerg Ott
Chief Executive Officer
(Principal Executive Officer)
Dated: February 28, 2012