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LEASE DEED

This LEASE DEED is executed and entered at Manesar, Gurugram, Haryana on 01th day of
May, 2019 (Two Thousand Nineteen)

BETWEEN

M/s JASTECH SYSTEMS PRIVATE LIMITED, a company incorporated under the provisions of
Companies Act 1956, having its Registered Office at Plot no. 258, Sector 8, IMT Manesar,
Gurugram – 122050, Haryana, through its Director SHRI J. S. BISLA, who has been duly
authorized vide Board Resolution dated 14.02.2019 (Hereinafter called and referred to as the
“Lessor” which expression wherever context permits be deemed to include their Successors,
heirs Legal Representatives, Assigns etc.).

AND

M/s TIMELINE CONSTRUCTIONS PRIVATE LIMITED, a company incorporated under the


provisions of Companies Act 1956, having its Registered Office at C-1101, The Villas,
Akashneem Marg, DLF Phase – II, Sector 25, Gurugram 122002, Haryana through its
Authorized Director SHRI RAJEEV GUPTA vide board resolution dated 14.02.2019 (Hereinafter
called and referred to as the “Lessee” which expression wherever context permits be deemed
to include their Successors, heirs Legal Representatives, Assigns etc.).

LESSOR Page 1 of 8 LESSEE


WHEREAS the Lessor has represented that they are the legal and bonafide owners and
are in lawful possession of the INDUSTRIAL building bearing Plot No. 258, Sector-8,
IMT MANESAR, Gurugram - 122050, Haryana, ad-measuring 450 Sq.Mts., by way of Sale
Deed vasika no. 2826 dated 25.03.2015 Registered in the office of Sub-Registrar, Manesar,
Gurugram, together with the building thereon measuring approximately 12000 Sq.Ft., including
Basement, Ground floor, First floor and Second floor duly constructed as per Occupation
Certificate No. HSIIDC/IPC/IMT/10/3925-28 dated 06.01.2010

WHEREAS on the request of the Lessee, the Lessor has agreed to grant lease of the
Basement and Ground Floor ad-measuring 5468.12 Sq.Ft. approx. along with right to use of
common areas in front only (hereinafter referred to as the “Demised Premises”) for an initial
term of 2(Two) years and thereafter further renewal and/or extension of Lease for another
1(one) term of 2(Two) years shall be subject to the terms and conditions as mutually
decided.

AND WHEREAS the Lessor has offered to the Lessee after mutual understanding Basement
and Ground Floor ad-measuring 5468.12 Sq.Ft. along with right to use of common areas for
setting up a Manufacturing Unit of UPVC windows, doors & construction related activities
for their business and Lessee and the Lessor have duly consented for such arrangements.
However the basement shall be used only for storage purpose as per HSIIDC norms.

AND WHEREAS the Lessor has assured the Lessee that LESSOR will liaison with HSIIDC for
lease permission in favour of the LESSEE, however the LESSEE will provide the necessary
project reports/documents needed for approval. Cost for seeking the said approvals /
permissions will be borne by the LESSOR.

AND WHEREAS the Lessee has approached the Lessor for taking the above mentioned built
up premises on lease for the purpose of setting up its Manufacturing Unit under the name and
style of M/s TIMELINE CONSTRUCTIONS (P) LTD, for an initial term of 2(Two) years and
thereafter further renewal and/or extension of Lease for another 1(one) term of 2(Two)
years shall be subject to the terms and conditions as mutually decided and initial
12(Twelve) MONTHS LOCK-IN-PERIOD shall commence w.e.f. 01.05.2019

NOW THIS LEASE DEED WITNESSETH AND GOVERNS THE CONTRACTUAL


RELATIONSHIP BETWEEN THE PARTIES AS FOLLOWS:

1. The Lessor on signing and getting it registered of this lease deed has handed over the
possession of the demised premises to the Lessee and the Lessee has taken over
the same, in perfect condition.

2. The said Lease Deed commenced from 01.05.2019 and there will be no fit-out period
and the rent shall commence w.e.f. 01.05.2019

3. RENT

The Rent for Premises shall be :-

 Rs. 90,000/- (Rupees Ninety Thousand Only) Plus applicable rate of


ServiceTax/GST per month payable w.e.f. 01.05.2019 to 30.04.2020

LESSOR Page 2 of 8 LESSEE


 Rs. 94,500/- (Rupees Ninety Four Thousnad Five Hundred Only) Plus
applicable rate of ServiceTax/GST per month payable w.e.f. 01.05.2020 to
30.04.2021

The rent shall be payable on or before 10th day of each month on advance basis. The
late payment charges will be charged @ 18% p.a. on daily basis for the period from
the date the rent becomes due till it is paid.

In case rent and other payable dues are delayed by over 10 days period, lessor shall
remind to lessee for payment by giving four days period, and after that if lessee fails
to make payment, lessee hereby unconditionally agrees and undertake to pay rent
and other payable dues along with interest immediately failing to comply with lease
stands cancelled, by notice in writing by lessor to lessee and security forfeited/
adjusted in notice period, and/or Lock in period.

4. RENT
The rent shall be payable by Cheque/ECS/pay order. The Lease/rent shall be
payable on or before 10th of each month at par basis only after deduction of
applicable TDS. Lessee shall provide TDS (if lessee is having TAN) certificate at
the end of each Qtr of the Year shall be handed over to the Lessor.

5. MAINTENANCE COST
Lessee shall be responsible for day to day cost on repairing and maintenance,
wear & tear and Maintenance and all running cost shall be borne by the Lessee
from the date of commencement of Lease e.g., in house-keeping charges,
electricity bills, maintenance charges, Water and Sewage charges Horticulture etc
payable periodically to HSIIDC to be paid by the Lessee and the Lessee shall
submit the relevant payment receipt is of paid-up bills / charges to the Lessor, as
and when paid by lessee. Premises shall be handed over back to lessor duly
repaired and maintained wherever required.
It has been agreed that during the subsistence of this deed, if there is seepage
defect in the demised premises, the Lessor shall have responsibility to get it
repaired or modified with the convenience of Lessee.

6. AGREEMENT PERIOD / LEASE TENURE


This Lease Deed is valid for a period of 2(Two) years. It has also been agreed that
in case both the parties intend to continue for a further period, or expiry of aforesaid
tenure, they can do so with upward financial mutual consent in writing only.
LOCK-IN-PERIOD, Neither party shall be entitled to terminate the Lease Deed
before the Expiry of Lock-In-Period i.e. 12(Twelve) months from the date of
Commencement of Lease Deed. Except if lessee defaults in payment of rent and
other payable dues, lessor has right to cancel the lease deed, which lessee hereby
agrees.

LESSOR Page 3 of 8 LESSEE


7. NOTICE PERIOD

In case the Lessee decides to vacate the said property then the Lessee shall serve
the prior notice of 2 complete calendar months in advance to the Lessor in writing for
vacation post Lock in Period. Lessee shall pay the full rental of the whole
lock in period and notice period of 2 months in case of vacating the premises before
the lock in period. The Lessor shall not terminate the lease deed before the expiry of
the Lease Tenure i.e., 24 months. However the Lessor may terminate the lease deed
in case of default in payment of monthly rentals and other payable dues continuous
for a period of 60 days, However prior to such termination the LESSOR shall give a
notice to the LESSEE, if there is no progress in payment of rent and other payable
dues inspite of notice lessee authorizes the lessor to get disconnect the electricity.

8. ADVANCE RENT & SECURITY DEPOSIT

It has been expressly agreed between the parties that the Lessee shall pay an
interest free refundable security deposit of Rs. 2,70,000/- (Rupees Two Lac
Seventy Thousand Only) equivalent to three months rent to the Lessor and the
Lessor hereby confirm and acknowledges the receipt of the same in the following
manner : -

Amount Dated Cheque no. Drawn on


Rs. 90,000/- 14.02.2019 206979 Bank of India, New Delhi
Rs. 1,80,000/- 01.05.2019 207215 Bank of India, New Delhi

The said interest free refundable security deposit shall be refundable without demur
by the Lessor to the Lessee by way of crossed cheque at the time of peaceful
vacation of the said demised premises, subject to provide NO DUES by the Lessee
in relation to Electricity department/Telephone Department HSIIDC or any other
civil/statutory body. HSIIDC and/or Lessor claims/ damages, if any.The cost of any
damages to the property / wear and tear which is abnormal in nature (normal wear &
tear will be excluded) will be deducted from the security deposit. Only normal wear
and tear will be accepted. It is also clear and understood by Lessee, any marble
piece breakages, shall be changed before handing the possession by lessee within
the lease period, at their own cost.

THAT The amount of security deposit will also change proportionately according to
the change in the rent. So, whenever the rent increases, the Security Deposit will
also increase proportionately.

9. SPACE for SINGNAGE

The Lessee shall have right to put up and display its company’s own products
signage anywhere in or out of the demised premises including but not limited to roof
top, walls, free of any rent or charges. However the Lessee shall bear all the
expenses / taxes / duties levied by any authority as may be applicable with respect to
such display of signage.

LESSOR Page 4 of 8 LESSEE


10. AMENITIES

The Lessor confirms that it has taken permanent water connection from HSIIDC
whereby it is entitled to water supply from HSIIDC for drinking and basic
sanitation needs.

That the Lessor shall provide a sanctioned electricity load upto 20KVA

That it has been expressly agreed between the parties to this Lease Deed, that in
case HSIIDC or any other concerned authorities made it mandatory for industrial
buildings to install rooftop solar power systems, then Lessor shall have the sole
responsibility and liability to install the same at his/their own cost. However the
consumption cost and running and maintenance shall be the cost responsibility
at the cost of lessee always, and consumption of power shall be paid to lessor.

11. TAXES AND INSURANCE

Lessor shall have the responsibility and liability to pay property Municipal
taxes/current as well as the Future property taxes. However, lease related taxes
like Service Tax /GST, future taxes related to rent and other charges, water,
electricity, Sewage, Maintenance and horticulture etc charges or any other
charges present/future to HSIIDC and/or any taxes etc to state/centre Govt levied
in future shall be payable by the LESSEE.

12. LAND USE/INDEMINITY/LIQUIDATED DAMAGES

12.1 The Lessor has agreed to give and the Lessee has agreed to take the demised
premises for the purpose of running their MANUFACTURING UNIT under the
name and style of M/s. TIMELINE CONSTRUCTIONS. The Lessor has assured
that this premises is completely fit for the MANUFACTURING activities (Non
pollution items only).

12.2 The Lessee shall use the basement for storage purpose only as per HSIIDC
norms and the ground floor may be used for manufacturing or storage purpose.

12.3 That the Lessor at any time during the Lease Tenure sells or transfers its rights or
interest in the said area/ covered area/demised premises as a whole or in part
thereof, then the Lessee shall have no objection to it, subject to the Lessor
making/providing the same arrangement with the prospective transferee(s) on
the same terms and conditions contained herein. The Lessor shall inform the
Lessee in advance of any such sale/Transfer.

12.4 That the LESSEE shall not sublet/under-let or parting with the possession of the
demised premises in any manner, except the possession in complete by lessee
company with present promoters only.

LESSOR Page 5 of 8 LESSEE


13. FORCE MAJEURE/ACT OF GOD

Notwithstanding anything contained in this DEED, in the event the DEMISED


PREMISES or any part thereof is destroyed or damaged or otherwise cannot be
used due to act of God, war, riot, intervention of government authority, or any
other similar event that is beyond the reasonable control of Lessee (“Force
Majeure), the lessee has the right to vacate the premises without giving three
months notice and even within the lock in period but the rent cannot be withheld
in case the Lessee chooses not to exercise this right to vacate.

14. REGISTRATION LEGAL AND OTHER CHARGES

Both the party shall bear Stamp Duty legal charges and other incidental charges
and expenses related to the registration of this Lease Deed in equal
proportionate ratio.

15. ARBITRATION & CONCILIATION

In case of any difference or dispute arising between the parties herein on any of
the terms and conditions contained herein, such deference or dispute shall be
first stage amicably settle and resolve by both lessee & lessor, respectfully and
peacefully, if not settled, and if not referred to sole arbitrator appointed by both
the parties, as per the provision of the Arbitration and Conciliation Act, 1996, as
amended thereto. The Lessor has also consented of this appointment. In case of
injustice able relief, the Courts at Gurugram shall have the territorial jurisdiction,
and language shall be English.

16. MISCELLANEOUS PROVISIONS

• Entire Deed: This deed constitutes the entire deed between the parties relating
to the services described hereinabove, and it supersedes all previous
communications, representations, or agreements, either oral or written with
respect to the subject matter hereof. No representations or statement of any kind
made by any representative of the parties, which are not stated herein, shall be
binding on the parties.

• Amendment: No addition alterations or modification of any provisions of this


deed shall not be effective unless it is in writing and signed by duly authorized
representative of both the Parties.

• It is hereby agreed that the LESSOR shall not be liable in any manner
whatsoever on account of any loss or damage of the LESSEE or its agents
due to failure, breakdown or non-availability of light, power, telephones
equipment system, plants, installations for any reason whatsoever.

• That within the Leased Premises, the LESSOR will not be liable for or in respect
of any damages or compensation payable in law in connection with or as a
consequence of any accident or injury to any person in any way connected with
the LESSEE. So also the LESSEE will be liable for or in respect of any damages

LESSOR Page 6 of 8 LESSEE


or compensation payable in law in connection with or as a consequence of any
accident or injury to any person in any way connected with the LESSOR. It is
also clear that the lessee shall maintain and comply with all labour laws.

• The Lessee shall keep the building and materials, goods, furniture, machinery
and others insured against comprehensive risk to avoid risk of theft fire and
damage to building and man-power, at their cost risk and responsibility at all
times till occupation.

• That the LESSEE shall permit, on 24 hours notice, the LESSOR and their duly
authorized agents, surveyors and workmen with all necessary appliances to
enter into the said premises at all reasonable times, for the purpose of either
viewing the condition of the said premises or for doing such work as may be
required or is necessary for repairs, alterations or improvements of the building,
water pipes, drains etc. or for enabling for LESSOR to perform any of their
covenants and conditions contained herein. The LESSOR, the agents, surveyors
and workmen shall endeavor that where there are constraints to carry out their
functions during the office hours of the LESSEE the same shall be done in such
a manner as to cause no hindrance in the functioning of the LESSEE.

• That if any notice is to be sent or given to the LESSEE under these presents it
shall be sent by registered post at the address of the said premises. Any notice to
be made or given to the LESSOR shall also be sent by registered post at the
address of the LESSOR given.

• LESSEE shall install Air Conditioners and other electrical gadgets, Machineries
and make such changes for that purpose as may be necessary without causing
damage to any permanent structure. On termination of tenancy or earlier, the
LESSEE shall be entitled to remove such equipment and fixtures however not
causing any damage to the structure, and/or all fittings, fixtures, tiles marble and
other flooring and electrical, which shall be replaced/repaired during lease period.

• That the LESSEE shall use the premises for lawful activities.

17. Notice:
All notices, requests and other communications to any Parties hereunder shall
be in writing and shall has to be served at the addresses given herein, the mode
of service shall only be by the Speed-post, email and the Registered-post only.
No other mode of communications shall be recognized in any manner.

LESSOR:

SHRI J. S. BISLA - Director


M/s JASTECH SYSTEMS PRIVATE LIMITED
Registered Office at Plot no. 258, Sector 8,
IMT Manesar, Gurugram – 122050, Haryana,

Email ID : js.bisla@jastech.net
Mobile No : 9910155464
_______________________________________________________________________

LESSOR Page 7 of 8 LESSEE


LESSEE:

SHRI RAJEEV GUPTA - Director


M/s TIMELINE CONSTRUCTIONS PRIVATE LIMITED
Registered Office at C-1101, The Villas, Akashneem Marg,
DLF Phase – II, Sector 25, Gurugram 122002, Haryana

Email ID : rajeev.gupta9972@gmail.com
Mobile No : 9810109972

IN WITNESS WHEREOF the LESSEE and the LESSOR have signed this LEASE DEED in
the presence of the following witness:

Signed and Delivered by the within named

LESSOR
for M/s JASTECH SYSTEMS PRIVATE LIMITED

J. S. BISLA - Director

Signed and Delivered by the within named

LESSEE
For M/s TIMELINE CONSTRUCTIONS PRIVATE LIMITED

RAJEEV GUPTA - Director

WITNESSE(S):

1. ……………………………………… 2. ……………………………………..
Name: Name :
Address: Address:

LESSOR Page 8 of 8 LESSEE