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PROPERTY TYPE : INDUSTRIAL


LOCATION : Plot no. 125, Sector-5, IMT MANESAR,
Gurugram - 122050, Haryana
RENT : Rs. 220,29,011/- (Average Annual)
STAMP DUTY : Rs. 31,000/-
LEASE TENURE : 5 (Five) Years
STAMP Certificate No. : G0V2018H684
GRN NO./ DATED : 37850552 / 22.08.2018
STAMP ISSUED : ONLINE

LEASE AGREEMENT

This lease agreement (hereinafter referred to as the agreement) is made Gurugram .


on this 27th day of August , 2018

BY AND BETWEEN

SHRI MAYANK DAYAL, [ PAN no. ADXPD3541M ] [ AADHAR no. 926712837624] son of
Shri Vinod K Dayal and SHRI VINOD KUMAR DAYAL, [ PAN no. AAFPD6080L ] [ AADHAR
no. 421196045519] son of Late Shri Maheshwar Dayal both Partner(s) of M/s PACKART
and both resident of C-216, Sarvodaya Enclave, Aurobindo Marg, New Delhi - 110017,
hereinafter jointly called the “LESSOR’’ (Which expression shall mean and include all
their legal representatives and permitted assigns) of The FIRST PART, more specifically
referred to as the FIRST PARTY

AND

M/s PHOENIX MECANO INDIA PVT. LTD., [ PAN no. AAACP2452L ] a company
incorporated under the provisions of Companies Act, 1956 having its registered Office at
388/389, Bhare, Taluka Mulshi, Post Ghotawada, Pirangut, Pirangut Industrial Area, Pune
– 412115, Maharashtra, India through its Authorized Representative SHRI SUNIL GUPTA
[ AADHAR no. 550602986334 ] Authorized via Board Resolution dated 14th June, 2018
hereinafter called The LESSEE (which expression shall means and include all their legal
heirs, legal Representatives and permitted assigns ) of the SECOND PARTY, more
specifically Referred to as the SECOND PARTY

WHEREAS the LESSOR is exclusive and the lawful owner and are in Possession of the land
& Building at Plot No. 125, Sector-5, IMT Manesar, Gurugram (Haryana), admeasuring
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1012.50 Sq. Mtrs. with 6,930 Sq. Ft. covered area (approximately) duly installed with
power and water facilities (hereinafter collectively called the ‘said premises’)

WHEREAS the LESSEE has approached the LESSOR to grant the permission to use the
said premises on lease for a period of 5(Five) years w.e.f. 1 st September, 2018 ending on
31st August, 2023. ( hereinafter called the said ‘ lease period’)

WHEREASE the Lessor hereby agrees to let out for the said lease period and the lessee
agree to take on lease the said premises’ situated at Plot No. 125, Sector-5, IMT
Manesar, Gurugram (Haryana), admeasuring 1012.50 sq.mtrs. with 6,930 sq. ft. covered
area.

NOW THIS AGREEMENT WITHNESSETH AND THE PATRIES HERETO MUTUALLY AGREE
AS HEREUNDER:-

1. RENT:

a) That the Lessee shall pay to the Lessor a lease rent at the rate of Rs. 1,53,000/
(Rupees One Lack Fifty Three Thousand Only) per month. That total amount per
month as rent shall be paid in respect of the said premises by the way of two
separate account payee cheques / Direct NEFT Bank transfer of :-

o Rs. 76,500/- in favor of the LESSOR Shri Mayank Dayal &


o Rs. 76,500 in favour of the LESSOR Shri Vinod Kumar Dayal

b) The Rent shall be subject to tax deduction at source (T.D.S) as per the applicable
laws and shall be payable on or before 7th day of each English calendar in
advance.

c) That the said Lease Rent would be escalated @ 5% after the end of each year.

d) The LESSEE and LESSOR shall not be entitled to terminate the lease Agreement
and there would be a lock in period of (24) month’s w.e.f. 1 st September, 2018 to
31st August, 2020, on either side where neither party will be in a position to
terminate the agreement. In case LESSEE chooses to vacate the premises at any
point of time prior to expiry of lock-in period, in that event the LESSEE shall be
liable to pay the agreed rent for the balance and un-expired stipulated lock-in
period.
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In the event the LESSEE vacates premises during the lock-in period, the LESSORS shall be
entitled to deduct from the said Interest Free Security the outstanding rental payable by
the LESSEE for the balance / un -expired lock-in period and if the said amount is not
sufficient then the LESSEE herein shall be liable to pay the balance amount for the
balance / un -expired lock-in period to the LESSORS and the LESSORS shall be absolutely
entitled to recover the same from the LESSEE as admitted /acknowledged debt. That
during the lock-in period the LESSOR shall not be entitled to terminate the lease as long
as the LESSEE regularly pays rent and compiles with terms and conditions mentioned in
this lease deed. That in case LESSEE intends to terminate the lease on or after the expiry
of lock-in period of “2 (Two) years/ (24) Months”, the LESSEE shall give three months’
notice in writing to the LESSORS.

e ) That the lease may be extended for a further period with mutual consent as agreed
between both partied and in case if such an extension is allowed, a fresh Registered New
Lease Deed shall be signed to signify the extension thereof.

2. SECURITY DEPOSIT:

That the LESSEE has agreed to pay to the LESSOR a sum of Rs. 4,59,000/- (Rupees
Four Lakhs Fifty Nine Thousand Only) as interest free security deposit. This
security Deposit shall be refunded at the time of the LESSEE surrounding the said
remises to the LESSOR on expiry or on termination of the agreement after
deducting any dues, if pending. This amount will not be adjusted by the LESSEE
for payment of arrears of Rent. Details of the security are given below:-

a) Rs. 1,53,000/- cheque no. 647191 Dated 06.08.2018 drawn on HSBC


Bank, in favour of Shri Vinod Kumar Dayal
b) Rs. 76,500/- cheque no. 647211 Dated 20.08.2018 drawn on HSBC Bank,
in favor of Shri Vinod Kumar Dayal
c) Rs. 2,29,500/- cheque no. 647212 Dated 20.08.2018 drawn on HSBC
bank, in favor of Shri Mayank Dayal

3. That the LESSEE shall use the ‘said premises, for industrial/ commercial
activity as permissible as per bye-laws of the HSIIDC or any other concerned
authority to the said premises, for a total period of 5(Five) years only w.e.f. 1 st
September, 2018 ending on 31st August, 2023.

4. That the LESSEE shall pay the electricity, HSIIDC annual maintenance charges and
water charges directly to the concerned departments. The LESSEE shall be
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responsible for any penalty, surcharge, fee, late fee or any other payment related
to their business imposed by the concerned authorities.

(a) That if the monthly Rent hereby agreed shall be in arrears or not paid accordance
with the terms and conditions contained herein under any circumstance latest by
the 7th of the reference month, whether legally demanded or not i.e., if the
LESSEE omits or neglects to performs or observe any covenants of this
agreement or does not have the Lease rent cheques cleared the LESSOR shall
have the right to terminate the agreement forth with and close and lock the
main/ rear/ side or any other entrance door/shutters of the leased premises and
stop the LESSEE from using the said premises till the LESSEE pays arrears and
dues. . (For this the LESSOR can also take help of Police, Associations, HSIIDC, or
responsible persons as suitable and required.) This Agreement does not entitle
the LESSEE to have or implement any tenancy rights with regards to the aforesaid
premises.

That the Lessee further assures the Lessor that under all circumstances, he will
pay the said monthly rent to the Lessor by the stipulated date. In the event, the
Lessee committing default in the payment of rent for one month or Cheque
Bounce due to any reason, the Lessor shall be entitled to terminate this Lease
Deed and seek possession of the said Property. The Lessee will immediately
handover the possession of the said Property to the Lessor or to his/her
representative. That if the rent remains unpaid more than One Month, the
LESSEE shall become unauthorized occupant and the Lease Deed shall stand
terminated.

b) That the LESSOR shall not be responsible for the goods/machinery of any other
materials or articles belonging to the LESSEE/ second party or to any person
connected with the LESSEE or visiting the Lessee. LESSEE shall be liable for any
loss, damage, by way of theft pilferage, Fire , Earthquake/Natural Calamity; the
LESSEE my get those insured, if so desired. That the LESSEE shall not store or
stock any objectionable items, fire hazardous, inflammable and offensive articles
etc. in the said premises.

5. That the ground floor shed, mezzanine office floor, guard room, meter room
open passage, four shutters, plastered walls, all bathrooms with complete
sanitary fittings electrical panels and fitting and other fixture and equipments as
per ANNEXURE - I attached herewith ) have been handed over in goods
condition and order to LESSEE by the LESSOR. If however any damage is causes
due to act of negligence of the LESSEE, they will make good such losses incurred
to the party of the first part i.e. LESSOR. Day to day maintained of the demised
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premises shall be the responsibility of the LESSEE and shall keep the premises in
good condition and order. (Photographs attached as per Annexure A).

That if any damage is caused to any part of the Leased premises and other
installed infrastructures which belong to the Lessor by reason of negligence of
the Lessee or its officials, directors, employees, visitors or any servants or agents
and in such a event the LESSEE hereby undertakes to make good the entire loss
as well as get restored and in functioning conditions the damaged things at its
own cost without any reminder from the Lessor.

6. That LESSEE shall be liable to pay Extra, GST, Service Tax, education cess, as
applicable, at the rate whichever decided and levied by the government to the
LESSOR. During the period of lease if any additional government taxes and levies
are laid by the state or central government it is deemed that LESSEE shall pay
extra. The LESSEE shall pay the taxes and impositions concerned with its business
carried on in the said premises hereby leased and LESSOR shall not be liable for
the same. LESSOR shall pay the annual taxes i.e. property tax only if any of the
said premise. Taxes and penalties pertaining to LESSEE’s business levied by
HSIIDC, Sales Tax Authorities, Transporters, GST, Income Tax, Fire Department,
Pollution Department, Labor Department or any other local authorities the
LESSEE would be responsible to pay the same.
 That the FIRE NOC for the FY 2018-2019 shall be provided by the LESSOR
to the LESSE and thereafter the FIRE NOC for the subsequent years shall
be obtained by the LESSEE at its own cost

 That the Factory/Establishment License from Labor Department shall be


obtained by the LESSEE at its own cost and expenses.

7. That the LESSOR shall not be liable and responsible to pay debts, liabilities, bank
loans or undertaking of the LESSEE to any person, authority, institutions, banks or
corporate bodies. If shall be the sole and exclusive responsibility of the LESSEE
that no suit, claim, or action by any third party shall be maintained against the
LESSOR. That the LESSEE shall pay the taxes , bank interest, and impositions
concerned with its business carried on in the said premises hereby leased.

8. That the LESSOR would be entitle to sell, transfer the demised premises to any
Party or parties, person/s or firms with whom they may enter into an agreement
of Sale or transfer in future, without prejudice to the right of LESSEE under this
Agreement. The LESSEE will attorney such new owners on their request in writing
from the LESSOR, and the new owners/ LESSOR (s) shall be recognized as their
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lawful Lessor under the terms and conditions of the Agreement and all
documents of any new lease agreement shall be entered into with the new
LESSOR (s) for the said Premises transferred or sold, at the same terms and
conditions as are with Present LESSOR.

9. That the LESSEE shall not carry out any additions or make any structural
construction in the said premises. The LESSEE may however, construct, erect
temporary partitions, wooden walls inside the premises, air-conditioner/s
coolers, etc. without causing any damage to the super structure; such temporary
wooden partitions and fixture shall be removed on the expiry of the lease
Agreement or on its earlier termination by way of written consent of LESSOR.

10. That LESSEE agrees to allow the LESSOR or its authorized representative at a
reasonable time during the said term to upon and inspect the leased premises
for viewing the same for ascertaining the compliance on the parts of the LESSEE
its connivance and obligations in present of the LESSEE.

11. That the LESSOR shall provide the LESSEE with Water and 29 KVA Electricity
connections from the concerned authorities. However the lessee shall be liable
to pay for the telephone, water , maintenance charges to HSIIDC, IMT Industrial
association and electricity charges as per its consumption directly to authorities’
concerned w.e.f. 01.09.2018. In the event the LESSEE wants to increase the
connected electricity load above 29KVA,then the extra security deposit
( payment to govt. authority) will be paid by LESSEE on behalf of LESSOR), the
same shall be refunded by the LESSOR after termination of lease agreement.

That any defect, in the internal electric wiring, main switches cut outs, fuses etc
shall be replaced by the LESSEE at their own cost, in the said premises.

That in case any criminal or civil suit is instituted by any authority, court, civic
body, agency, etc. on account of any act, deed or thing done in contravention of
law by the LESSEE in the demised premises including any action like tampering of
electricity meter, seals affixed thereupon and theft of the electricity, in that event
the entire civil and criminal liability for the same shall be of the LESSEE
exclusively. In case any fine, penalty etc. is imposed by any authority on account
of the foregoing, in that event the LESSEE shall be liable to satisfy / pay the same.
In case of failure of LESSEE to pay / satisfy such fine, penalty etc. The LESSOR
shall be entitled to deduct such unpaid fine, penalty etc., and subsequently also
claim from the LESSEE. The LESSEE shall keep The LESSOR indemnified against
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any such claim, demand or actions caused due to non-performance/non-


compliance on the part of the LESSEE.

12. That the LESSEE shall not let out, sublet, assign or otherwise part with possession
of the demised premises in favor of any third party. The LESSEE shall not be
entitled to create any third party interest of any nature in whole or part of the
premises. The LESSEE shall not be entitled to raise any loan with regard to the
demised premises.

13. That LESSEE agree to deliver vacant and peaceful possession of the said premises
on the expiry of the agreement in as goods condition as it was when the LESSEE
obtained possession (reasonable wear and tear, damage by tempest, earthquake,
fire military, mob, violence or any other accident due to irresistible force beyond
the control of the LESSEE being exempted).

14. a) On the LESSEE delivering to the LESSOR vacant, quite and peaceful possession
of the said premises at the termination of this Agreement, the LESSOR shall refund to
the LESSEE the entire interest free deposit amount of Rs. 4,59,000/- (Rupees Four
Lakhs Fifty Nine Thousand Only).

b) In the event the LESSOR fails to refund the said security deposit amount at the
expiry or earlier termination of lease agreement, LESSOR shall pay the entire amount
tighter with interest @ 24% p.a. till the time of its refunds and the LESSE shall retain
the possession of the said premises without paying any rent & damages thereof.

c) Incase LESSEE fails to handover possession of the said premises or pay the
monthly lease rent on time as per the agreement or on cheque bounce or of earlier
determination thereof even after the LESSOR’s clear intention of refunding the said
security deposit, the LESSEE shall pay a sum of Rs. 9,000/- (Rupees Nine Thousand
only) per day to the LESSOR as liquidated damages till a vacant peaceful possession
of the said premises is handed over to the LESSOR.

15. That the LESSOR shall allow the LESSEE to put a signboard of authorized specific
size on façade/ entrance of the said premises after prior acknowledgment from
the LESSOR.

16. That LESSOR and LESSEE hereto acknowledge that this Agreement supercedes all
prior communication between them including all oral or written proposals.
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17. The parties need to get this lease Deed registered in that case stamp duty and
registration charges payment in respect of the same shall be paid borne 50% by
LESSOR and 50% by LESSEE. The original lease Deed shall be retained by the
LESSOR and the true copy thereof shall be retained by the LESSEE. All previous
lease agreements if any shall remain cancelled.

18. That any notice to be served hereunder shall be sufficiently served on the LESSEE
if served by registered post at its address mentioned above and shall be
sufficiently served on the LESSOR at his above-mentioned address.

19. That the Lessee hereby declares that they have not concealed any information
which may be bearing on execution of this Lease Deed. In case the Lessee
infringes or violates any of the terms and conditions of this Lease Deed or
performs any acts in contravention of this Lease Deed or beyond what is
prescribed in this Lease Deed, the LESSOR be fully entitled to get this Agreement
enforced by suit of specific performance act through the Law Courts of India in
competent jurisdiction of Delhi at costs and expenses of the LESSEE.

IN WITNESS whereof the parties to this Agreement have set and subscribed their
respective hands the day and day’s year first hereinabove written.

WITNESS:-

1.

LESSOR
MAYANK DAYAL, son of Shri Vinod K Dayal
VINOD KUMAR DAYAL, son of Late Shri Maheshwar Dayal
Partner(s) of M/s PACKART

2.

LESSEE
M/s PHOENIX MECANO INDIA PVT. LTD., through
its Authorized Representative SHRI SUNIL GUPTA
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ANNEXURE – I
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1. Fans ( 4 nos.)

2. Exhaust Fans ( 1 no.)

3. Tubelights (15 Nos.)

4. Fire Extinguishers (7 nos.)

5. Fire Fitting all new Equipments, Fire Motor Pump, Panel etc.

6. Water Motor Pump (1 no.)


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ANNEXURE – I
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