LEASE DEED
IN-1299336
(Purulia Bus Terminal)
THIS LEASE DEED (“Lease Deed”) is made on this _____ day of __________,
2016,
BY AND BETWEEN
Piyush Khedia, son
of Late Gopal Prasad Khedia, by Caste Hindu, residing at Shakuntala Complex, Ranchi
Road, Post Office-Purulia, Police Station-Purulia, District-Purulia, Pin-723101
hereinafter referred to as “Lessor”, (which term or expression shall
unless otherwise excluded by or repugnant to the subject or context hereof be
deemed to mean and include his agents, permitted assigns, representatives,
legal heirs, successors etc.) of the ONE PART;
AND
Indus
Towers Ltd. a company incorporated under
Companies Act, 1956 having its circle office at Unit 501, 5th Floor, Block
“3A”, Plot No II/F/II, Ambuja Eco Space, New Town, Rajarhat, Kolkata – 700156,
West Bengal and registered office at Bharti Crescent, 1, Nelson Mandela Road,Vasant
Kunj, Phase – II, New Delhi – 110070 through its Authorized Signatory Shri
Pradip Kumar Mondal, Son of Shri Amiya Kumar Mondal, of 3/A, M.M. Dutta Road,
Kolkata – 700 137, hereinafter referred to as the “Lessee”, (which term
or expression shall unless otherwise excluded by or repugnant to subject or
context hereof be deemed to mean and include its agents, permitted assigns,
representatives, successors, group companies, subsidiaries and associates), of OTHER
PART.
The Lessor and Lessee are hereinafter collectively referred
to as “the Parties” and severally as “the Party”.
WHEREAS:
(A) Lessee is a registered
Infrastructure Provider, category-1(IP-1) by virtue of registration granted by
the Department of Telecommunications, Ministry of Communications & IT,
Government of India, and is engaged in business of establishment, maintenance
and provision of telecommunication infrastructure, which inter alia includes
providing towers and other allied equipments and leasing of antennae sites on multi
tenant sharing basis, to various telecom service providers including cellular
service providers.
(B) Lessee is interested in
obtaining premises from Lessor on lease basis, inter alia, for the purpose of
establishing, constructing, installing, operating, maintaining and storing
various kinds of cell sites, structures, transmission towers/poles with single
or multiple antennas, with or without RCC beams/columns etc., civil/pre
fabricated equipment shelters, earthing connections to antenna, generator,
equipments, laying of optical/electrical/copper cables to ground, lightning
arrestors, and aviation lamps, necessary cabling and connectivity to each
antenna, generator, equipment, and space for installation of electricity meter
and power connectivity etc., network equipment (such as radios, batteries,
antennas, cables including optical/electrical/copper cables, etc.), ducts,
fibres and other assets (“Equipments”) in order to provide the same on
lease/rent/sale basis to various telecom service providers like Airtel, Idea,
Vodafone, Reliance etc. in furtherance to its above stated business (the “Business”);
(C) The Lessor has represented to
the Lessee that he is the absolute and bonafide owner, has a clear and
marketable title and is legally entitled to lease out the premises admeasuring
500 square fts, comprising of Mouza-Purulia No-2, Jl No-292, Dag No-R.S. Plot
No-5906, Holding No-178, Khatian No-1379, Shakuntala Complex, Ranchi Road,
Purulia Municipality, Police Station-Purulia, Dist-Purulia, Pin-723101 (“Demised
Premises”), more particularly described in the Schedule and the site plan
attached to this Lease Deed herewith as Annexure-I. Demised Premises is
constructed over a plot of land admeasuring 0.253 Acre, situated at
Mouza-Purulia No-2, Jl No-292, Dag No-R.S. Plot No-5906, Holding No-178,
Khatian No-1379, Shakuntala Complex, Ranchi Road, Purulia Municipality, Police
Station-Purulia, Dist-Purulia, Pin-723101 (“Land”), acquired under a
conveyance deed dated 17.11.2004, registered as a document No. I-5758 of 2004,
at office of the Sub-Registrar, Purulia, a building admeasuring 500 square
feet, has been constructed over the said Land (“Building”);
(D) Based on the written as well as
oral representations, assurances and warranties of the Lessor, the Lessee has
accepted to take on lease the Demised Premises together with all rights,
easements and appurtenances attached thereto, including the right to use the
common areas and facilities etc., along with the right of ingress and egress to
all common areas, and the Lessor has agreed to give on lease the Demised
Premises as per detailed terms and conditions as contained in this Lease Deed.
Now by this lease deed it is agreed between Parties as
follows:-
1.
LEASE: The Lessor hereby grants to the Lessee and the Lessee hereby
accepts on lease from the Lessor, the Demised Premises for carrying on its
Business or such other activities as it may deem fit, without any hindrance by
the Lessor. The Lessor has handed over the physical vacant peaceful possession
of and granted access to the Demised Premises to the Lessee simultaneously on
the signing of this Lease Deed and the Lessee may immediately commence and
carry out all types of construction, installations, fixations, fittings
alterations, air-conditioning, cabling, ducting, flooring, and set up and
install its tower, Equipments etc. in the Demised Premises as per its sole
discretion and requirements from time to time.
2.
TERM: This Lease Deed is for a period of 20(Twenty) years
commencing from 27.05.2015 to 26.05.2035 (“Term”). Any renewal, after
the expiry of the Term, shall be with the mutual consent of the Parties. At
each renewal, a fresh lease deed shall be executed, stamped and registered, on
mutually agreed terms.
3. RENT & SECURITY DEPOSIT:
3.1. In consideration of the Lessor
granting on lease the Demised Premises to the Lessee, the Lessee has agreed to
pay the Lessor a monthly rent of Rs.15000/- (Rupees Fifteen Thousand
only) (“Rent”), commencing from 27.05.2015. The Rent shall be increased
by 10% at the expiry of every 3 (Three) years, over the last paid Rent. The
Rent shall be payable monthly in advance by the 10th day of each English
calendar month vide Cheque/Demand Draft/Bank Transfer in favour of the Lessor.
The Rent shall be payable in the name of “Piyush Khedia” subject to tax
deductible at source. The Rent would be inclusive of all present and future
taxes, including property taxes, municipal taxes or any other statutory taxes
that may be levied by the State / Central Government. Further, the Lessor shall
furnish to the Lessee, the receipts towards the payment of Rent. The Lessor
agrees and undertakes to complete all the registration formalities
simultaneously with the execution of this Lease Deed and in any case within 30
days from the date of execution failing which the Lessee shall be entitled to
withhold the Rent till the Lease Deed is registered and this will not amount to
breach of Rent payment obligation of the Lessee.
4. COVENANTS OF LESSOR: Lessor
covenants with Lessee as follows:
4.1 The Lessor hereby permits the Lessee to install, erect,
commission, establish and maintain on the Demised Premises, including but not
limiting to a) Equipments; b) Additional Antenna for the purpose of sharing
with any other telecom operators; c) Air conditioners; d) DG Set, or any other
source or technology of producing energy; e) Guard-room; and f)
Temporary/semi-permanent shed for housing the generator and other equipment
that may be installed.
4.2 The Lessor expressly grants the Lessee the permission to
lease/rent/grant the Equipments etc. installed at the Demised Premises, for use
of telecom operators and entities (“Associates”) and to enter into
multi-operator arrangements/agreements with the Associates, who shall provide
or intend to provide telecom services. Further, the Associates shall be
entitled to use/install any of their equipments etc. in the Demised Premises.
For the limited purposes of this Lease Deed, all such equipments etc. shall be
deemed to be the Equipments of the Lessee. No additional permission shall be
required nor any objection shall be raised by the Lessor, at any point of time,
for the above purpose, nor shall the Lessee or the Associates be liable to pay
any additional compensation/ fees or other charges whatsoever. The Lessor shall
have no objection for the transfer of the leasehold rights of the Lessee on
account of the Lessee’s merger, amalgamation, takeover, re-structuring or any
other re-arrangement, and the terms of this Lease Deed shall continue.
4.3 The Lessor hereby grants unconditional and unrestricted
permission to the Lessee, Associates to whom the Lessee has permitted to use
the Equipments, its clients and to its associates etc. (“Lessee’s
Representatives”) to engage the services of vendors, contractors, engineers,
supervisors, workmen, employees, authorized personnel, sub-contractors,
security guards, caretakers and other service providers etc, (“Third Party
Contractors”) to erect, install, commission, up-grade or change location of
the Equipments, or such additional or alternate equipments etc. that may be
required from time to time at their own expense and cost, to dig trenches,
gutters, chambers and carry out all other plumbing, civil/mechanical and
electrical works, to carry out repairs, maintenance, alterations etc. The
Lessor hereby provides unhindered ingress and egress, to the Lessee, Lessee’s
Representatives and Third Party Contractors, who shall be entitled to carry
tools, tackles, heavy machinery, raw materials, cranes, anchorage equipment,
winches, pulleys, ropes, scaffolding, brackets, clamps, welding and cutting
equipment etc. and to use the same on the Demised Premises. The Lessor has also
permitted the Lessee and Lessee’s Representatives to display logos, signages,
glow signs, hoardings etc. on the Equipments/ Demised Premises at no extra cost
whatsoever.
4.4 It is especially understood and agreed that the
Equipments and other items, fixtures etc. installed by the Lessee shall always
remain, without exception, the Lessee’s property, and upon its expiration or
early termination, or otherwise the Lessee shall remove the same from the
Demised Premises.
4.5 Lessee shall be entitled to connect its equipments with
networks of other telecom service providers by routing necessary cables,
microwaves etc. The Lessee shall also be entitled to connect the
optical/electrical/copper cables/wires/fiber etc. through GI/PVC pipes etc.
from outside the Demised Premises.
4.6 Lessee shall be entitled to an uninterrupted,
unobstructed and unhindered access to and peaceful enjoyment of the Demised
Premises, throughout the Term of the Lease Deed. Notwithstanding anything to
the contrary contained herein, if there is any interruption or disturbance in
the peaceful enjoyment of Demised Premises for any reason whatsoever, no Rent
or any other outgoings shall be payable by Lessee to Lessor for period of
interruption or disturbance.
4.7 In case Lessor or any third party, causes any hindrance
or restriction or objects to the entry of the Lessee or Lessee’s
Representatives, or in case of any dispute with other occupants/ residents of
the Building/premises or neighbourhood, the Lessee shall intimate the Lessor
about the same and the Lessor shall immediately remove or cause to be removed
all such obstructions, hindrance, interference, failing which the Lessor shall
be liable to pay losses on actuals, if any, suffered by the Lessee or Lessee’s
Representatives. Further, in the event, any consent is required from any
neighbour or any other occupant of the Building or the Residents’ Welfare
Association, then the same shall be promptly obtained by the Lessor at its own
cost.
4.8 The Lessor shall extend all co-operation and facilities
to the Lessee and to do all that is necessary to facilitate the Lessee in
obtaining all clearances/certificates/permissions/ sanctions as may be required
from all statutory, government and municipal authorities, from time to time. In
case the Lessor is required to appear before any authority for obtaining any
permission, sanction, NOC etc., he shall appear as may be necessary, upon
intimation being given by the Lessee.
4.9 If any renovation, repair, construction etc. is required
to be carried out by the Lessor on or around the Demised Premises, the Lessor
shall serve a notice in writing at least 30 (thirty) days prior to such
commencement, to the Lessee. The Lessor and the Lessee shall in good faith
discuss and agree on the measures to be taken by the Lessor for the protection
of the Equipments during the said renovation, repair or
construction/demolition. Any additional cost to be incurred for safeguarding
the Equipments, shall be borne by the Lessor. The Lessor shall, at all times,
ensure that any such repair, maintenance or renovation etc. does not disrupt or
damage the Equipments in any manner whatsoever. The Lessor shall not ask the
Lessee to shift or relocate its Equipments to any other place. The Lessee shall
be entitled to post its own security guard(s) at such place, in or around the
Demised Premises, as may be necessary.
4.10 The Lessor shall ensure that the minimum required
distance is maintained between the Equipments of the Lessee and any other
structure installed / proposed by the Lessor or third parties near the Demised
Premises and the Lessor shall ensure that such structures shall not cause any obstruction,
hindrance to the Equipments installed by the Lessee and Lessee’s
Representatives. Further, the Lessor shall not install, cause, or allow to be
installed on the Building, any communication facilities/equipment, the
placement or operation of which, in the judgment of the Lessee, may interfere
with the working of the Equipments.
4.11 The Lessee shall not be liable in any manner whatsoever
for any injury or damage which may be caused to the Lessor, or representatives
of the Lessor or any other third party who may gain access to the Demised
Premises and unauthorisedly tampers or interferes with the Equipments installed
by the Lessee or Lessee’s Representatives etc. The Lessor alone shall be solely
liable for any such mishappening including injury or damage that may be caused
to anyone.
4.12 The Lessor shall carry out all major structural repairs
and maintenance of the Demised Premises during the Term of the Lease Deed.
Repairs and maintenance will be required to be done within four [4] days of the
receipt of notice from the Lessee in this behalf, failing which the Lessee
shall be entitled to carry out such repairs at its own cost and adjust the
amount spent thereon against the Rent payable.
4.13 The Lessee shall not be liable to pay any Rent in the
event, the Demised Premises, or any portion thereof becomes unusable due to
Force Majeure (defined hereinafter), or due to any action/order of any court or
tribunal and act of third party. Further, the Lessor shall ensure that no
hindrance is caused for any reason whatsoever during the construction of the
cell site and thereafter during the continuance of the lease including
uninterrupted, unobstructed and unhindered access to the Demised Premises at
all times to the Lessee/ Lessee’s Representatives etc., however, in case of any
default on part of the Lessor to adhere to any of the above conditions, the
Lessee shall not be obliged to pay any Rent for the such period the said
default exists. The Lessor further hereby agrees to pay a minimum fixed sum of
Rs. 5,00,000/- (Rupees Five Lacs only) as quantified liquidated damages to the
Lessee in case the Lessee is compelled to remove its Equipments from the
Demised Premises for any reason whatsoever, attributable to the Lessor.
4.14 The Lessee shall be entitled to have all rights and
entitlements conferred upon an Infrastructure Provider Category-I (IP-1) under
the Indian Telegraph Act, 1885 or any other applicable laws, rules or
regulations framed thereunder. The Lessor acknowledges that the services
provided by the Lessee from the Demised Premises are essential and public
utility services and that the Lessee shall be entitled to all the rights
conferred by law.
4.15 The Lessor shall indemnify and keep indemnified the
Lessee and Lessee’s Representatives from and against any and all claims,
demands causes of action, obligation, litigation, liability, loss, damage, cost
and expenses incurred or sustained by reason of or arising out of (i) any
breach or alleged breach by the Lessor of terms of this Lease Deed; or (ii) due
to any action or negligence on the part of the Lessor; or (iii) violation by
the Lessor of any statute, law, rule, bye law, notification or direction issued
by Central, State or Local Authorities.
4.16 The Lessor shall bear all taxes past, present and future,
including property taxes, fees and other Government or statutory levies in
relation to the Demised Premises, failing which, the Lessee shall be entitled
to pay such amount and to deduct the same from the Rent. The Lessor shall keep
the Demised Premises adequately insured at its own cost.
5. COVENANTS OF LESSEE: Lessee
covenants with Lessor as follows:
5.1 To pay to the Lessor the monthly Rent, as per the terms
of this Lease Deed. The Lessee shall also pay, the charges for electricity and
water, consumed in the Demised Premises, based on actuals. The Lessor shall
provide separate electric meters for the purposes of the Lessee. The Lessee may
apply for, obtain and install its requirement of power directly from the
concerned electricity authorities in its name or in the name of any nominee.
The Lessor shall give & sign required NOCs/other papers for the aforesaid
purpose and allow the employees/workers of the concerned electricity
authorities or any other agency to carry out the work of installation of the
electric meters or any other necessary equipments. The Lessee shall have the
right to install necessary cables, wires and equipment for the purpose of
transmitting the power supply from meters to its antenna and other equipments
and generators, without the permission of the Lessor. For this purpose the
Lessor shall provide required NOC’s etc., sign all papers and provide all other
assistance required.
5.2 To carry out minor/day-to-day repairs and maintenance of
the Demised Premises and other fixtures and fittings. The Lessee shall ensure
that no damage is caused to the Demised Premises during the installation of the
Equipments, reasonable wear and tear excepted & to keep its Equipments
installed in the Demised Premises adequately insured at its own cost.
5.3 To clear all dues including electricity dues, water dues,
which are payable by the Lessee under this Lease Deed before handing over the
vacant and peaceful possession of the Demised Premises to the Lessor.
5.4 In the event, the Demised Premises is attached due to
non-payment of any dues by the Lessor, then the Lessee shall be entitled to pay
the Rent to the concerned government authority, which shall be regarded as the
compliance under this Lease Deed, and the Lessee shall not be liable to pay the
Rent to the Lessor.
6. REPRESENTATIONS & WARRANTIES: Lessor represents
& warrants that:
6.1 There is no impediment/s whereby the Lessor is restrained
from entering into / performing its obligations under this Lease Deed. The
Lessor represents that he is the legal, rightful and absolute owner of the
Demised Premises and is fully authorised to enter into this Lease Deed and
grant the Demised Premises on lease to the Lessee.
6.2 The Demised Premises are free from all restrictive
covenants, lispendens, acquisition and requisition proceedings, minor’s claims,
mortgage, lien, charge, or claims or encumbrances of any other nature
whatsoever.
6.3 The Lessor shall provide all necessary documents and
extend all necessary co-operation, assistance as required by the Lessee from
time to time to obtain licences/permissions from the concerned authorities to
operate the Lessee's business from the Demised Premises. The Lessor further
represents that all necessary permissions/sanctions / approvals from the
concerned authorities have been obtained for the Demised Premises, and that the
Demised Premises is not prohibited from being used as per the requirement of
the Lessee, and the Lessor further agrees to indemnify and keep indemnified the
Lessee, its directors, employees, agents etc., against all actions, claims,
demands, proceedings, expenses, damages, recoveries, judgements, costs, charges
etc. by reason of any action or proceedings, commenced or instituted in respect
of Demised Premises, which may render the occupation of the Demised Premises by
the Lessee for the purposes of it's business as aforesaid as unlawful and as a
consequence of which the Lessee may be compelled to vacate the Demised Premises
during the Term of the Lease Deed.
6.4 No director or employee of the Lessee or immediate family
member thereof was offered and received any thing of value of any kind from the
Lessor or his employees, directors or agents in connection with this Lease Deed
and that no personnel of the Lessee have any business relationship of any kind
with the Lessor or his directors, employees or agents.
6.5 The Lessor having satisfied himself about the nature,
usage, purpose, specifications, weight and dimensions of the Equipments, to be
erected/installed at the Demised Premises warrants to the Lessee that the
Demised Premises/Building is structurally strong enough to withstand the load
of the Equipments and undertakes to indemnify and keep indemnified the Lessee,
its directors, employees, agents etc. for any loss caused to any third party resulting
from any weakness/defect in the structure/ Building/Demised Premises.
6.6 The Lessor has and shall continue to comply with all
laws, bylaws, rules, regulations, orders, notifications, directions, conditions
of the Government whether Central, State, Local or Municipal with respect to
the said Demised Premises during the Term of this Lease Deed.
6.7 All taxes with respect to the Demised Premises have been
paid by the Lessor, till date and the Lessor does not have any liability for
any past/accumulated taxes, or any interest or penalty in respect thereof, of
any nature that may be assessed against Lessee or become a lien against the
Demised Premises.
6.8 In the event, the Lessee goes for excavation and/or sets
up additional equipments or increases the height of the Tower / Pole or
utilizes more space for installing the Equipments in the Demised Premises, the
Lessor shall have no objection to the same and will not insist on increasing
the Rent. Further, the Lessee shall bear the entire costs in relation to such
construction.
6.9 In case where Lessee incurs any loss due to misrepresentation
by the Lessor including for any of the above representations and warranties,
the Lessor shall indemnify and will always keep indemnified the Lessee, its
directors, employees, agents etc., against all costs of shifting, replacement
and relocation etc. to any other similar premises and any other cost, loss or
damage
The Lessee makes the following representations and
warranties:
6.10 The Lessee is an entity duly incorporated and validly
existing in accordance with the laws of India and has full authority to enter
into this Lease Deed. The execution of this Lease Deed is not prohibited by its
constituent documents or any applicable law or agreement to which it is a
party.
7. RESTRICTION ON TRANSFER: It is agreed as follows:
7.1 The Lessor shall not transfer, directly or indirectly the
Demised Premises in favour of any competitor of the Lessee engaged in providing
infrastructure services similar to that of Lessee.
7.2 In the event the Lessor mortgages/transfers/conveys all
or any portion of the Demised Premises, or the Land/Building thereof, to a
third party and/or the Demised Premises and/or any portion thereof gets
conveyed/transferred by contract, operation of law and/or by order of any
court/authority, or any other obligation of the Lessor, to a third party such
transfer/conveyance shall be subject to this Lease Deed and shall recognize and
accept the right(s) of the Lessee and upon the transfer/conveyance having been
completed, the transferee shall step into the shoes of the Lessor and all the
rights and liabilities of the Lessor shall automatically devolve on the
transferee. The terms and conditions of this Lease Deed shall remain valid and
enforceable with such third party. Such clause shall be incorporated in
sale/conveyance deed, etc. between such Lessor and the third party. Further,
all deposits made by the Lessee to the Lessor under this Lease Deed, shall be
deemed to be the deposits made to such transferee of the Demised Premises. The
Lessor hereby assure the Lessee that before effecting any transfer of the
Demised Premises or any part thereof to a third person, they shall procure from
such transferee a letter of confirmation and acknowledgement, confirming the
transferee’s acceptance of the terms and conditions of this Lease Deed and also
its taking over all the rights and obligations of the Lessor as stated in this
Lease Deed. However, the Lessor shall not transfer the property for a period of
5 (five) years, without the written consent of the Lessee.
8. FORCE MAJEURE
8.1 If at any time, the Demised Premises is destroyed or
damaged by acts of god, tempest, flood, earthquake or any other means like fire
or riot, civil or military action, war, (“Force Majeure”), so as to
become unfit for occupation or use, the Lessor undertakes to carry out the
necessary repairs within 7 days of the occurrence, and no Rent and other
outgoings shall be paid until the Demised Premises shall have again been
rendered fit for occupation. Additionally, the Lessee shall have the option to
terminate this Lease Deed by giving a 15 (fifteen) days written notice.
8.2 Neither Party shall be liable to the other Party for
failure to perform its obligations due to occurrence of any event beyond the
control of such Party and affecting its performance including, without
limitation, governmental regulations, orders, administrative requests, rulings
or orders of Department of Telecommunications /Telecom Regulatory Authority of
India , judicial orders and Force Majeure.
9. TERMINATION
9.1 The Lessee may, at any time after giving 1 (one) months'
notice, terminate this Lease Deed without assigning any reasons,
notwithstanding anything to the contrary contained herein.
9.2 In the event, the Lessee fails to pay to the Lessor, the
Rent, consecutively for a period of 3 (three) months, then the Lessor shall be
entitled to terminate this Lease Deed, after providing a notice of 30 (thirty)
days to the Lessee and the Lessee failing to cure the breach within said 30
days. Except for the aforesaid reason, the Lessor does not have any right to
terminate this Lease Deed in any circumstances whatsoever.
9.3 The Lessee shall handover the physical possession of the
Demised Premises to the Lessor on the expiry or earlier termination of this
Lease Deed as contemplated in this Lease Deed, subject to normal wear and tear.
The Lessor shall refund the entire amount of Security Deposit to the Lessee
simultaneously with the handing over of physical possession of the Demised
Premises, failing which, the Lessee shall not be liable to vacate and hand over
possession of the Demised Premises to the Lessor till the entire amount of
Security Deposit is refunded by the Lessor and shall be entitled to continue to
occupy the Demised Premises without payment of any Rent, mense profit or any
other amount whatsoever to the Lessor. Further the Lessor shall be liable to
pay an interest @ 24% p.a. to the Lessee from the date of default till the date
of payment/ refund of entire amount of the Security Deposit. The provisions of
this clause shall survive the expiry or the earlier termination of this Lease
Deed.
10. GENERAL CLAUSES:
a) Any notice etc, unless otherwise
specified, shall be deemed to be validly sent if dispatched by registered post
AD to the other Party at the following respective addresses:-If made to Lessee:
Head – Legal, M/s. INDUS TOWERS LIMITED, Unit 501, 5th Floor, Block “3A”, Plot
No II/F/II, Ambuja Eco Space, New Town, Rajarhat, Kolkata – 700156, West Bengal
If made to the Lessor: Shakuntala Complex, Ranchi Road, Post Office-Purulia,
Police Station-Purulia, District-Purulia, Pin-723101.
b) The failure of either party to
enforce any provision of this Lease Deed shall not be considered to be waiver
of the right of such Party thereafter to enforce each and every such provision.
Waiver, if any, shall be in writing, signed by the then duly authorised
signatory of the concerned Party.
C) If any provision of this Lease
Deed is determined to be void or unenforceable under any law applicable, such
provisions shall be deemed amended or deleted in so far as is reasonably
inconsistent with the provisions of this Lease Deed and to the extent necessary
to conform to applicable law and the remaining provisions shall remain valid
and enforceable
d) This Lease Deed constitutes the
entire agreement between the Parties and supersedes all previous
discussions/correspondence and arrangements/agreements between the Parties, if
any, whether written, oral or implied concerning the matters covered herein.
This Lease Deed shall not be modified, except by amendment(s) in writing duly
executed by both the Parties hereto
e). This Lease Deed shall be
construed in accordance with applicable laws of India and any dispute arising
from the subject matter of this Lease Deed shall be adjudicated only in the
Court of competent jurisdiction at Kolkata.
f).Any dispute or difference out of
or relating to the scope, operation or effect of this Lease Deed or the
validity or the breach thereof shall be settled by arbitration, by a sole
arbitrator to be appointed by the Lessee, in accordance with the Arbitration
and Conciliation Act, 1996 and the award made in pursuance thereof shall be
binding on the Parties. The venue of arbitration proceedings shall be Kolkata.
g).The Lessor hereby permits the
Lessee to procure loans/financial assistance from third party or financial
institution, banks etc., from time to time by creating pledge and hypothecation
over all or any of the Equipments, installed at the Demised Premises. Further,
it is expressly agreed that the Lessor shall not have any claim, lien or charge
on the Equipments, either for Rent, arrears, fees, compensation or otherwise
h).The stamp duty, registration
& incidental charges in respect of this Lease Deed and all other documents
that may be executed pursuant to this Lease Deed shall be borne by the Lessor
and Lessee in equal ratio. The Lessor hereby authorises the Lessee to adjust
the above stated Lessor’s share in respect of stamp duty, registration charges
and incidental charges from the Rent payable to the Lessor. The Lessor also
undertakes that if the Lease Deed is terminated for any reason what so ever,
prior to above mentioned adjustment of the dues then such unadjusted amount
will be paid by the Lessor before taking back the physical possession of the
Demised Premises
i). This Lease Deed may be signed
in any number of counterparts, each of which is an original and all of which,
taken together, constitutes one and the same instrument.
FIRST SCHEDULE REFERRED TO ABOVE
ALL THAT PLOT OF LAND admeasuring 0.253 Acre, Bastu nature situated
at Mouza-Purulia No-2, Jl No-292, Dag No-R.S. Plot No-5906, Holding No-178,
Khatian No-1379, Vill-Shakuntala Complex, Ranchi Road, purulia Municipality,
Police Station-Purulia, Dist-Purulia, Pin-723101 and butted and bounded as
follows:
By The North : House
By The South : House
By The East : House
By The West : Ranchi Road
SECOND SCHEDULE above referred to:
(Description of the Demised Premises)
ALL THAT SPACE admeasuring 500 Sq. Fts. (Five Hundred Sq.
Fts.) on the roof/terrace of the building and on the ground floor on
combined basis in the said premises as mentioned in the First Schedule shown
and demarcated in green border in the plan annexed hereto being part of the
land described in First Schedule hereinabove.
IN WITNESS WHEREOF the Parties hereto have signed this
Lease Deed through their duly authorized representatives at the place and on
the day, month and year first above written.
SIGNED, SEALED AND DELIVERED BY SIGNED, SEALED AND DELIVERED
BY
For INDUS TOWERS LIMITED
LESSOR
(LESSEE)
In the
presence of WITNESS:
1.
2.
Drafted &
Prepared in my Chamber;
Ashok Kumar
Singh, Advocate.
High Court Bar
Association Room No. 15,
High Court at
Calcutta.
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