Ref. No. ……………………….. Dated: 19.11.

2024

TITLE INVESTIGATION REPORT

To,

Satara Power And Energy Pvt. Ltd.

having its corporate office at
Plot No. 18, 1st Floor Institutional Area,
Sector 32 Gurugram-122001
and registered office at F-9, First Floor,
Manish Plaza-1, Plot no. 7 MLU, Sector-10,
Dwarka New Delhi -110075.

Sub: Final Preliminary Title Search Report in respect of land admeasuring 2.73 Hectares
from Gut No. 24/1, located at Village: Halhalli, Taluka: Akkalkot, and District:
Solapur.

Dear Sir,

We, The Guild, Advocates &Associate Counsels have been appointed to prepare the title search
report (“Report”) for the piece and parcel of land bearing Survey No. 24/1, located at Village:
Halhalli, Taluka: Akkalkot, and District: Solapur (“Immovable Property”). The details are provided
below:

1. Description, Nature and Area of land of Survey/Plot numbers

The Company/Lessee has taken the Immovable Property on lease, the description of which (including
the names of the Title Holders/Leasers & Lessee) are tabulated herein below:
Lease Deed
Plot No./ Name of the
Nature of Total Area Name of the
S.N. Number/Surve Registration Title Holder
Land (Hec.)/Type Lessee
y Number No. & (Lessor)
Tenure
1. Maruti
24/1
Yashwan
(Complete 2.73
t
Hectares leased 6174/2023 Satara Power
Agricultu 2.73 Birajdar
1. out in the dated and Energy
ral Land (CLASS-I)
captioned 06.11.2023 Private Limited
2. Sangita
Gut/Survey
Maruti
No.)
Birajdar
 28 years 11
months
(06.11.2023
to
06.10.2052)

2. Details/Description of document scrutinized

S.N.
Whether
Type of the Detail of registration with
Date of Original/
Document/Detail of Sub- Registrar
Document/Particulars Certified True
the Document
Copy
REGISTERED
LEASE DEED
EXECUTED
BETWEEN:

1. MARUTI
YASHWANT
Book/Vol. No. 1, Entry No.
BIRAJDAR Certified True
1. 06.11.2023 6174 of 2023 (Total No. of
2. SANGITA Copy
Pages: 45)
MARUTI
BIRAJDAR
&
1. SATARA POWER
AND ENERGY
PRIVATE
LIMITED
(Period –
1. 1994-95 to 1996-
1997 SATBARA UTARA
2. 1997-98 to 2011- (7-12) Certified True
2. 2012 NA
[PERIOD- 1994-95 Copy
3. 2012-2013 to 2014- TO 2024-25]
15
4. 2022-23 to 2024-
25)
[1.] Ferfar Mutation No. 152
Dt. 23/05/2002
[2.] Ferfar Mutation No. 520
Dt. 11/10/2021 Certified True
[3.] Ferfar Mutation No. 565 Copy
3. Dt. 03/10/2022 FERFARMUTATION NA
[4.] Ferfar Mutation No. 566 Mutation 607
Dt. 03/10/2022 pending
[5.] Ferfar Mutation No. 607
Dt. __
 Release Deed No. 4299
Dt. 15/09/2021 Release Deed No.
4. Pending
4299 Dt. 15/09/2021

Sale Deed No. 4779 Dt.

08/09/2022 Sale Deed No. 4779
5. Pending
Dt. 08/09/2022

Sale Deed No. 4780 Dt.

08/09/2022 Sale Deed No. 4780
6. Pending
Dt. 08/09/2022

3. Chain of Title

S. N. Brief history and flow of title with respect to Immovable Properties – For 30 Year Period –
Based on perusal of the documents referred in S. No. 2 above
At the commencement of the search period of 30 years from now, the total area of 2.73
hectares bearing Gut No. 24/1 was found to be recorded on the 7/12 extract for the period
1. from 1990 – 91 in the name of Somling Revansiddha Birajdar has been leased out to
Satara Power and Energy Private Limited, is found to be recorded in the name of and
possessed by Maruti Yashwant Biraj & Darsangita Maruti Birajdar.
Ferfar Mutation No. 152: As per this mutation Somling Revansiddha Birajdar died on
06/05/2001 and the property bearing Gut No. 24/1 devolved upon his legal heirs [Link]
Somning Birajdar, 2. Hanmant Somning Birajdar, 3. Shrishail Somning Birajdar, 4. Gaurabai
Pundalik Patil, 5. Bebi Somning Birajdar, 6. Gangabai Somning Birajdar and 7. Shivamma
2. Somning [Link] following entry involves the registration of the names of the heirs of
Somning Repnasiddh Birajdar, post his death on 06/05/2001, relating to land in Survey
No. 24/1. The details of legal heirs registered under this entry are Gaurabai Pudling Patil,
Baby Somning Birajdar, Gangabai Somning Birajdar, Shivamma Somning Birajdar,
Shekavva Somning Birajdar, Hanmant Somning Birajdar & Srishail Somning Birajdar.
Ferfar Mutation No. 520: The following entry involves a transaction between Gaurabai
Pudling Patil, Baby Somning Birajdar, Gangabai Somning Birajdar & Shivamma Somning
Birajdar and Shekavva Somning Birajdar, Hanmant Somning Birajdar & Srishail Somning
Birajdar, relating to land in Survey No. 24/1. As per this mutation Gaurabai Pudling Patil,
Baby Somning Birajdar, Gangabai Somning Birajdar & Shivamma Somning Birajdar
jointly relinquished their rights in the said Gut No. 24/1 in favor of Shekavva Somning
Birajdar, Hanmant Somning Birajdar & Srishail Somning Birajdar vide the
Relinquishment Deed registered with the Second Sub-Registrar, Akkalkot under
3.
Document Number 4299-2021, dated 15/09/2021. Hence the names of Gaurabai Pudling
Patil, Baby Somning Birajdar, Gangabai Somning Birajdar & Shivamma Somning
Birajdar were deleted from the 7/12 extracts of Gut 24/ 1 and the said Shekavva Somning
Birajdar, Hanmant Somning Birajdar & Srishail Somning Birajdar were recorded as co-
sharers of entire property of Gut No. 24/1 , the aforementioned parties, i.e., Gaurabai
Pudling Patil, Baby Somning Birajdar, Gangabai Somning Birajdar & Shivamma Somning
Birajdar relinquished their rights in the said Survey No. 24/1 in favor of Shekavva
Somning Birajdar, Hanmant Somning Birajdar & Srishail Somning Birajdar Birajdar.
4. Ferfar Mutation No. 565: As per this mutation Shekavva Somning Birajdar, Hanmant
Somning Birajdar & Srishail Somning Birajdar sold area admeasuring 1.37 hectares out of
2.73 hectares to Maruti Yeshwant Birajdar vide Sale Deed No. 4779 Dt. 08/09/2022 for valuable
consideration of 3,16,000/- and accordingly the name of Maruti Yeshwant Birajdar was recorded
on the 7/12 of Gut No. 24/1 as occupant of area admeasuring 1.37 Hectares. The balance land
admeasuring 1.36 Hectares was continued to be recorded in the name of Shekavva Somning
 Birajdar, Hanmant Somning Birajdar & Srishail Somning Birajdar The following entry
involves a transaction involving Shekavva Somning Birajdar, Hanmant Somning Birajdar
& Srishail Somning Birajdar Birajdar, whose land in Survey No. 24/1, with a total
cultivable area of 2.7300 hectares and no uncultivable area, was partially sold. A total of
1.3700 hectares of cultivable area was sold to Maruti Yashwant Birajdar, as per the Sale
Deed registered with the Second Registrar, Akkalkot under deed number 4779, dated
08/09/2022, for an amount of Rs. 3,16,000.00/-.
Ferfar Mutation No. 566: As per this mutation Shekavva Somning Birajdar, Hanmant
Somning Birajdar & Srishail Somning Birajdar sold total area admeasuring 1.36 hectares
which was in their possession to Sanglita Maruti Birajdar vide Sale Deed No. 4780 Dt. 08/09/2022
for valuable consideration of 3,14,000/- and accordingly the name of Sangita Maruti Birajdar was
recorded on the 7/12 of Gut No. 24/1 as occupant of area admeasuring 1.36 Hectares and the
names of Shekavva Somning Birajdar, Hanmant Somning Birajdar & Srishail Somning
5. Birajdar were deleted from the records of Gut 24/1. The following entry involves a
transaction involving Shekavva Somning Birajdar, Hanmant Somning Birajdar & Srishail
Somning Birajdar Birajdar, whose land in Survey No. 24/1, with a total cultivable area of
2.7300 hectares and no uncultivable area, was partially sold. A total of 1.3600 hectares of
cultivable area was sold to Sangita Maruti Birajdar, as per the Sale Deed registered with
the Second Registrar, Akkalkot under deed number 4780, dated 08/09/2022, for an amount
of Rs. 3,14,000.00/-.
Ferfar Mutation No. 607: As per this mutation Maruti Yashwant Birajdar having share of 1.37
Hectares and Singita Maruti Birajdar having share of 1.36 hectares in Gut No. 24/1 jointly
executed Lease Deed in favour of Satara Power and Energy Pvt. Ltd. vide Lease deed No. 6174 Dt.
06/11/2023 for a period of 28 years and 11 month from the date of execution of the Lease deed, the
said lease deed has been brought on revenue record and name of the Lease holder, Satara Power
6. and Energy Pvt. Ltd. has been recorded in the other right column of the 7/12 extract. The
following entry shows that 2.73 hectares in the captioned Survey No. 24/1 has been leased
out as per the Lease Deed No. 6174/2023 dated 06.11.2023. The Lease Deed is between
Maruti Yashwant Birajdar & Sangita Maruti Birajdar and Satara Power and Energy
Private Limited for a duration of 28 years and 11 months, from 06.11.2023 to 06.10.2052.

4. Findings basis my title investigation and other observations

1. a) Whether the records of registrar office or revenue Yes, Record of Registrar office is available
authorities relevant to the property in question are for verification through computer system
available for verification through any online portal or and digital VF No. 7/12 and mutations are
computer system? available online.
b) If such online/computer records are available,
The records were verified and were found
whether any verification or cross checking are made
to be consistent with the online records.
and the comments/ findings in this regard.
c) Whether the genuineness of the stamp paper is
possible to be got verified from any online portal and No.
if so whether such verification was made?
2. a) Immoveable Properties falls within the jurisdiction Sub- Registrar Akkalkot, Taluka:
of which sub-registrar office? Akkalkot, and District: Solapur.
b) Whether it is possible to have registration of
documents in respect of the property in question, at
more than one office of sub-registrar/ district registrar/ No.
registrar- general. If so, please name all such offices?
c)Whether search has been made at all the offices
named at (b) above? NA
d)Whether the searches in the offices of registering
authorities or any other records reveal registration
No.
of multiple title documents in respect of the property
in question?
3. Nature of Title of the intended mortgagor over the Leasehold Rights
 Immoveable Properties (whether full ownership rights,
Leasehold Rights, Occupancy/ Possessory Rights or
Inam Holder or Govt. Grantee/Allottee etc.)
4. If leasehold, whether;

(a) lease Deed is duly stamped and registered Yes.

(b) lessee is permitted to mortgage the Leasehold Yes, under clause “7 (u) & (v)” of the
right Lease Deed.
(c) Duration of the Lease 28 years 11 months
(06.11.2023 to 06.10.2052)
(d) if, a sub-lease, check the lease deed in favour of
Lessee as to whether Lease deed permits sub-leasing [Link]
and mortgage by Sub- Lessee also.
(e) Whether the leasehold rights permit for the Yes, under clause “7 (d)” of the Lease
creation of any superstructure (if applicable)? [Link]
(f) Right to get renewal of the leasehold rights and Yes, under clause “7 (a)” of the Lease
nature thereof Deed .NA
5. If Govt. grant/allotment/Lease-cum Sale Agreement, NA
whether;
(a) grant/ agreement etc. provides for alienable NA
rights to the mortgagor with or without conditions,
(b) the mortgagor is competent to create charge on NA
such property,
(c) whether any permission from Govt. or any other
authority is required for creation of mortgage and if so NA
whether such valid permission is available.
6. If occupancy right, whether; Yes, under clause “47 (b) & (d)” of the
Lease Deed.
a) Such right is heritable and transferable, Yes, under clause “47 (u) & (v)” of the
Lease Deed.
b) Mortgage can be created. Yes, under clause “47 (u) & (v)” of the
Lease Deed.
7. Nature of Minor’s interest, if any and if so, whether
creation of mortgage could be possible, the
modalities/procedure to be followed including court NA
permission to be obtained and the reasons for coming
to such conclusion.
8. Whether the title documents include any testamentary
documents /wills? NANO
(a) In case of wills, whether the will is registered will
or unregistered will? NA
(b) Whether will in the matter needs a mandatory
probate and if so whether the same is probated by a NA
competent court?
(c) Whether the property is mutated on the basis of
NA
will?
(d) Whether the original will is available?
NA
(e) Whether the original death certificate of the
testator is available? NA
f) What are the circumstances and / or documents to NA
establish the will in question is the last and final will
of the testator? (Comments on the circumstances such
 as the availability of a declaration by all the
beneficiaries about the genuineness/validity of the
will, all parties have acted upon the will, etc., which
are relevant to rely on the will, availability of
Mother/Original title deeds are to be explained.)
9. (a) Whether the property is subject to any Wakf
rights? No.
(b) Whether the property belongs to church/ temple or The property does not belong to any
any religious/other institutions having any restriction church/temple or any religious/other
in creation of charges on such properties? institution.
(c) Precautions/ permissions, if any in respect of the
above cases for creation of mortgage? NA
10. (a) Where the property is a HUF/joint family property, No, Hindu Undivided Family (HUF)
mortgage is created for family benefit/legal necessity, interest is not involved in the immovable
whether the Major Coparceners have no objection/join property.
in execution, minor’s share if any, rights of female
members etc.
(b) Please also comment on any other aspect which
may adversely affect the validity of security in such NA
cases?
11. (a) Whether the property belongs to any trust or is The immovable property does not belong to
subject to the rights of any trust? a trust.
(b) Whether the trust is a private or public trust and
whether trust deed specifically authorizes the NA
mortgage of the property?
12. (c) If so additional precautions/permissions to be NA
obtained for creation of valid mortgage?
(d) Requirements, if any for creation of mortgage as
per the central/state laws applicable to the trust in the NA
matter.
13. The period covered under the Encumbrances
Certificate and the name of the person in whose favour
(Under Process)-NA
the encumbrance is created and if so, satisfaction of
charge, if any.
14. Details regarding property tax or land revenue or other
statutory dues paid/payable as on date and if not paid, NA
what remedy?
15. Urban land ceiling clearance, whether required and if NA
so, details thereon.
Whether No Objection Certificate under the Income NA
Tax Act is required/ obtained.
16. Any bar/restriction for creation of mortgage under any There is no bar under Central/State/Local
local or special enactments, details of registration of Laws for creation of mortgage of
documents, payment of proper stamp duty etc. Leasehold rights.
17. Whether the PFC will be able to enforce SARFAESI SARFAESI will be applicable after the
Act, if required against the property offered as land has been converted to Non-
security? AgricultureYes, under clause “7 (u) & (v)”
of the Lease Deed.

18. In case of absence of original title deeds, details of

legal and other requirements for creation of a proper,
valid and enforceable mortgage by deposit of certified The Original Lease Deeds are available.
extracts of duly certified etc., as also any precaution to
be taken by PFC in this regard.
19. Whether the governing law/constitutional documents
of the mortgagor (other than natural persons) permits Yes.
creation of mortgage?
 20. Additional aspects relevant for investigation of title as
per local laws. [Link]

Additional suggestions, if any to safeguard the interest

21.
of PFC/ensuring the perfection of security.
No suggestions.

22. The specific persons who are required to create

Satara Power and Energy [Link]
mortgage/to deposit documents creating mortgage.
Nature of Mortgagor’s right over the Immovable
i. Leasehold Rights
Property
Findings on mutation entries and ownership of the
ii. NoneNA
mortgagor with Municipal/Revenue Authorities
The Company have provided the revenue
records from the Tahasil Office and we
iii. Details of search in Municipality/Gram have obtained the search report from the
Sabha/panchayat etc. sub-registrar office. Apart from the
aforesaid, no other search has been
conducted or is required in our view.
Yes, under Clause 2, Clause 6, Clause 7(a),
iv. Clause 7(b), Clause 7(c), Clause 7(o),
Tenancy rights over the immovable properties
Clause 7(u) & 7(v), Clause 8 & Clause 9 of
the Lease [Link]
Restriction/prohibition under personal law of the
v. No.
owner/mortgager
vi.
Availability of chain of title documents for 30 years Available.

vii. Dues recoverable as land revenue whether

NA
outstanding.
viii. Current land use –
Agricultural
Agriculture/Residential/industrial/commercial
For the change of use of land, the occupant
ix. Requirement of Change in Land Use and position as have to give intimation about the same to
per policy of the state the revenue authorities as per the provision
of S.44A of MLRC, 1966.
Permission under the urban land (Ceiling and Urban land ceiling Act, 1976 repealed in
x.
Regulation) Act,1976 Maharashtra.
Details of creation of charge or redemption for a
xi.
minimum period of 30 year and subsisting charges, as NoNA.
per encumbrance certificate for the last 30 year.
xii. Type of mortgage recommended and list of documents
Registered Mortgage
to be deposited
xiii.
Additional documents required NA
No permission is required under state law/
Permission required under state law/ permission of
xiv. no permission of any person is necessary
any person is necessary for creation of mortgage/
for creation of mortgage / transfer of
transfer of property.
Immovable property.
xv.
Resolutions for creation of mortgage NA
There is no bar under Central/State/Local
xvi. Permission of any authority or formality is required Laws for creation of mortgage of the
for mortgage Leasehold rights in respect of the
Immovable Property.
xvii. Applicability of SARFAESI Act over the immovable Yes, the SARFAESI Act is applicable
properties over the Lease hold rights in respect of
 the Immovable Property after the land is
converted to Non - Agriculture.
Investigation under income tax Act, 1961: -
(Compliance of provision of S230-A and Chapter
XXC of the I.T. Act, 1961 and details of acquisition
Section 230A was omitted by the Finance
proceeding under u/s 222 Chapter XXC.
xviii. Act, 2001. No proceedings for recovery of
any tax is pending with respect to the land
Requirement of prior permission of the concerned
in question as per the revenue records.
Assessing Office under u/s 281(1) is required for any
transfer (by way of sale, mortgage, girthing or any
transfer what so ever) of the immovable property.
No pending cases as per the data available
on the following websites;
xix. Pending litigation before any court of law/ forum in
[Link]
respect of the property.
[Link]#
[Link]
xx. Availability of No encumbrance certificate from the
NA
concerned Registrar Office.
Any minor's interest if involved in the property
xxi. proposed to be mortgaged or any other claims. If
No minor interest is involved.
minor's interest is involved, what precautions are to be
taken to protect PFC's interest as a mortgagee
Whether the property is acquired under Land
xxii. No, the instant Survey No. 24/1 is not
Acquisition Act, 1894 and applicability of other State
acquired.
Legislation
xxiii. Any other special enactment which is applicable to the
No, special enactment is applicable.
property proposed to be mortgaged and affects the title
Maruti Yeshwant Birajdar is recorded as
the occupant of land admeasuring 1.37
hectares and Sangita Maruti Birajdar is
recorded as the occupant of 1.36 hectares
of land bearing Gut No. 24/1 they have
xxiv. Findings on absolute, clear and marketable title of the jointly Lease this land to Satara Power and
immovable property proposed to be mortgaged Energy Pvt. Ltd. and theThe the Company
has clear and marketable Leasehold Rights
over the immovable property, with right to
create mortgage, charge and lien in favour
of the Lender without requiring prior
permission of the Lessor.
 CERTIFICATE OF TITLE

1. We have examined the documents evidencing the possessory and leasehold rights of the
Company relating to the Immoveable Properties (the “Title Deeds”) and the Title Holder has
absolute clear and marketable title over immovable property. We further certify that:

 We confirm having made a search in the land records on 19.11.2024. We do not find
anything adverse which would prevent the Company from executing Lease Deed with
the Title Holder.
 Following scrutiny of land records and Title Deeds, we hereby certify the genuineness of
the Title Deeds and that the leasehold title of the Company is clear. Suspicious/doubt, if
any, has been clarified by making necessary enquiries.

2. There are no prior mortgage/charges/encumbrances. Based on review of the documents enlisted

in S. No. 2, search conducted by us, at the concerned office of Sub-Registrar on ________,
representations/certifications made by the Company, we may mention that the said land is free
from all encumbrances subsisting over the land except leasehold rights in favour of the Lessee.

There are no legal impediments for creation of the mortgage under any applicable law/ rules in force.

Yours sincerely,