Yelahanka Branch Office Agreement-21.11.2024
Yelahanka Branch Office Agreement-21.11.2024
This Lease Deed made at Bengaluru on this _____ day ________, 2024 by and
between:
Mr. Sampath Kumar G S/o Sri Govindaiah aged about 56 years, residing at #418/2,
KHB ‘A’ Sector Yelahanka New Town, Bengaluru North, Yelahanka, Bengaluru,
Karnataka -560064 (Hereinafter called the `Lessors’, which expression shall unless
otherwise repugnant to the context or meaning thereof includes its successors, assigns
and parties in interest) of the FIRST PART.
AND
WHEREAS the Lessee had approached the Lessors to take on lease entire Basemen
and First Floor for one of its Branch Office with a super built up area admeasuring
2700 Sq. Ft. on ________________ Sq. Yards of the Premises bearing Municipal Nos.
D1-346, in Katha No, 382
WHEREAS the Lessors had represented to the Lessee that by virtue of Registered Sale
Deeds bearing Nos. BNG(U)YLNK/8623 of 2012-2013 registered at senior
Subregistrar, Yelahan ka, Benagluru on 18.01.2013 the Lessors have become the
absolute owners and are seized and possessed of or otherwise well and sufficiently
entitled to the total extent of the commercial property admeasuring built on _____ Sq.
Yards situated at ________________.
WHEREAS the Lessee on the basis of the representation made by the Lessors had
expressed its willingness to take on lease for one of its Office with a super built up area
admeasuring (including Basement and First Floor Total is 2700 Sq. Ft. Approx.)
situated on the Basement and First floor in the Premises bearing Municipal No D1-
346, in Katha No, 382 , more particularly described under and stated in SCHEDULE-I
(“Premises” or “Demised Premises”) annexed herewith along with all the easement
rights and other appurtenants thereto and Lessors herein is fully authorized and entitled
to give on lease the Schedule property for commercial use, the said units or any part
thereof.
NOW THIS DEED WITNESSETH and it is hereby agreed by and between the Parties
hereto as follows:
1. PURPOSE
The Lessors hereby grants unto the Lessee by way of lease the Demised Premises to
hold the same unto the Lessee for the purpose of use and occupation as one of its
Branch Office for the Term (as hereinafter defined) at the Rent hereinafter reserved and
on the terms and conditions hereinafter contained. The Lessors hereby represents and
warrants to the Lessee that the Lessors shall have no objection to the said activities
being carried out by the Lessee at the Premises.
This Lease shall be for a period of 3 years commencing with effect from
________________ (hereinafter referred to as “Commencement Date”) and ending
on ________________subject to the earlier determination as hereinafter provided
(hereinbefore and hereinafter referred to as “Term”).
The physical, peaceful and vacant possession of the Demised Premises shall be
handed over to the LESSEE upon execution of this Lease Deed and the LESSEE
shall be entitled to undertake interiors and fit-outs in and on the Demised Premises
on taking possession of the Demised premises and there shall be a rent free period
of ___ (________) days starting from ________________ and ending on
________________.
The parties hereby agree that there shall be a lock-in-period of One years
commencing from the Lease Commencement Date. The Lessors and the Lessee
shall have a common lock-in period of One years commencing from
________________to ________________. Either of the Parties shall not be entitled
to terminate this Lease during the common lock-in period starting from the Lease
Commencement Date. However, it is agreed between the parties that the lock-in
period of the Lessors shall continue to be applicable for another term of __
[_______] years i.e. from ________________ to ________________ which is
detailed as under:
3. RENT
1. The Lessee hereby agrees to pay the Lessors a sum of Rs. 1,25,000/- (Rupees One
Lakh Twenty five thousand Only) per month as monthly rentals towards the
Premises in the proportions as detailed in the table below. The LESSEE also agrees to
pay the Lessors only or the Maintenance Agency as may be appointed by the Lessors a
sum of Rs. ________________/- (Rupees __________________ Only) which is
calculated at Rs. ___/- per Sq. ft. towards monthly maintenance charges for the total
super built-up area of ______________ Sq. Ft. The Lessee hereby agrees to pay the
Service Tax on the monthly rentals & maintenance upon Lessors raising monthly
invoice and submitting appropriate proof of registration of Service Tax.
1. The Lessee hereby, subject to deduction of tax at source as applicable from time
to time agrees to deposit the rent before the 10th day of each calendar month in
advance during the tenure of this lease.
2. The Parties hereby agree that there shall be escalation on the rent at the rate of
5 (Five) % at the end of every year as per below table which shall be calculated
on the last prevailing monthly rent.
3. The Lessors hereby agrees to provide the Lessee common parking space for
two-wheelers & ____ (Twelve) no. of four-wheelers at the Premises along with
earth pits, space for signage & power back-up through DG in the Premises.
1. The Lessee at the time of execution of Letter of Intent has already paid to the
Lessors a sum of Rs.7 Lakhs (Rupees Seven Lakhs Only) through Account
Payee Cheques as detailed in the below table towards advance Security Deposit
which is equivalent to _____ (___) month rental as interest free security
deposit (‘Security Deposit’), the receipt of which the Lessors hereby
acknowledges.
Sl. No. Name of the Lessors Proportion (in percentage) Security Deposit already
paid Cheque No. Cheque Date & Bank
2. The Lessee at the time of execution of this Lease Deed shall pay to the Lessors
a sum of Rs. 7 Lakhs /- (Rupees Seven Lakhs Only) /through Account
Payee Cheques as detailed in the below table towards advance Security Deposit
which is equivalent to ____ (___) months rentals as interest free security
deposit (‘Security Deposit’), the receipt of which the Lessors hereby
acknowledges.
Sl. No. Name of the Lessor/s Proportion (in percentage) Security Deposit to be
paid Cheque No. Cheque Date & Bank
It shall be the responsibility of the Lessors to regularly pay the property/municipal tax
and any other taxes, charges etc., that needs to be paid to corporation/municipality
with respect to the Premises. However, the Lessee shall pay the Service Tax as
applicable from time to time on the monthly rentals upon Lessors submitting
appropriate proof of registration and upon receipt of monthly invoice towards the
same.
The Lessors shall provide ____________ KVA (HT) electrical load with installation of
separate commercial meter at the appropriate designated place for the same. The
Lessee shall pay electricity charges, including any additional refundable security
deposit levied by TSSPDCL, directly to the electricity department against the bills
issued to it from time to time and shall alone be entitled to seek refund of the
security deposit from TSSPDCL upon termination or earlier determination of this
Lease.
1. The Premises currently has a _____ KVA (HT) electrical connection. The Lessee
can apply for any additional load for the requirements that may arise in future for
which all necessary assistance shall be provided by the Lessors. It is however,
agreed that all the charges incurred in obtaining the additional sanctioned load, if
any, shall be payable by the Lessee and the Lessee alone shall be entitled to
seek refund of security deposit from TSSPCL.
2. The Lessors hereby agrees that Lessee shall be entitled and authorised to use
the Diesel Generator (DG) installed by the Lessors in the Demised Premises for
the purposes of power backup to the Demised Premises 24x7 and the necessary
and applicable diesel charges shall be paid by the Lessee to the Lessors basing
on the actual consumption recorded through a separate meter which shall be
provided by the Lessors.
8. SIGNAGE
1. The Lessors hereby agrees and allows the Lessee to install name boards,
signage’s and Lessee’s logo/symbol/trade-name etc. on the façade of the
Demised Premises at suitable locations as mutually agreed during the term of
this Lease.
2. It is hereby agreed that no additional rent shall be payable by the Lessee to the
Lessors for installation or placement of the signage as mentioned above.
3. Lessors shall assist Lessee in obtaining all approvals, if any, from the concerned
govt. authorities for displaying the signage at the D emised Premises. Rental
charges, if any to be paid to the municipal authorities shall be borne by the
Lessee.
9. COVENANTS OF LESSEE
1. The Lessee shall keep the Premises in good proper and tenantable condition at
its own cost.
2. The Lessee shall not bring in or store, upon the Demised Premises or any in part
thereof, any hazardous goods of combustible or inflammable substance, save in
small quantities for normal office use as permitted by Law
3. The Lessee shall not without obtaining previous written consent of the Lessors,
alter or effect any of the load bearing walls or effect any structural additions or
alterations of permanent nature to the Premises. The Lessee shall however be
at liberty, without any such consent as aforesaid, to erect internal
partitions/additions and install and fix normal fixtures, fittings, furniture, counters,
cabins, air-conditioners, gas and electric appliances, all office equipment and any
other articles required to facilitate Lessee’s business activities at the Premises.
The Lessee shall be at liberty at the end of the Term to remove or take away
such partitions/additions, normal fixtures, fittings, furniture, counters, cabins, air-
conditioners, gas and electric appliances, all office equipment and any other
articles installed by the Lessee, leaving the Premises in the same condition as it
was at the time of execution of this Lease, subject to normal wear and tear and
damage by any event of Force Majeure or otherwise.
4. The Lessee shall not during the tenure of the present lease or thereafter sub-
let/sub-Lease or create any third party right whatsoever with respect to the
Premises or any part thereof. However, use of the Premises by the Lessee’s
subsidiary, holding company or Group Company shall not amount to sub-letting
of the demised Premises by the Lessee.
5. The Lessee shall grant access to the Lessor’s authorized representatives to the
Premises after due and reasonable notice in writing by the Lessors for carrying
out structural and major repairs as contained hereunder.
6. The Lessee shall make all payments due and/or payable to the Lessors on
account of Rent by account payee cheque/demand draft drawn in favour of the
Lessors herein.
1. The Lessors hereby covenants that, subject to payment of Rent herein reserved,
on or before the due date, the Lessee shall peacefully hold and enjoy the
Demised Premises through out the. Term of the present lease without any
interruption, eviction, claim or demand by the Lessors or by any person claiming
through, under or in trust for the Lessors.
2. The Lessors hereby declares, covenants, warrants and represents to the Lessee
as under:
a. That the LESSORS is the absolute owner of the Demised Premises and are
otherwise seized and possessed of the Demised Premises and have obtained all
the permissions from GHMC/HMDA and statutory approvals required under law
in connection with the occupation and commercial use of the Demised Premises
by the LESSEE and is duly authorized and entitled to enter into and execute the
Lease Deed.
b. That the Lessors is the absolute owner of the Premises and are otherwise seized
and possessed of the Premises and is duly authorized and entitled to enter into
and execute this Lease Deed.
c. That the Premises is free from all encumbrances, liens or any other charges of
any nature whatsoever and there are no restrictive covenants operating upon the
Lessors and /or Premises, in leasing out the Premises to the Lessee on the
terms and conditions herein contained.
g. That the Demised Premises has adequate supply of potable and bore-well water.
However, in case of short supply of water, the cost of buying additional water will
be borne by the occupants in the premises in equal proportions.
h. The Lessors shall provide the Two-Wheelers & Four-wheelers parking space
available at the Premises for the Lessee as stated in Clause 3.4 hereinabove.
i. That the Lessors has not, and shall not, sell, assign, convey or transfer in any
manner the Premises during the Term of the present lease. However if the
Lessors intends to sell/dispose off/transfer the said premises to any person or
third party, in that event the Lessors shall promptly inform the transferee(s) about
the terms and conditions of this Lease Deed and shall obtain appropriate written
documents from such transferee(s) unconditionally agreeing to the terms and
conditions of this Lease Deed, more particularly assigning the tenancy to the
transferee(s). Additionally, the Lessors shall cause a letter to be issued by the
prospective new landlord in favour of the Lessee confirming that the terms herein
agreed to shall be binding on the new Landlord(s) and he shall also acknowledge
all outstanding amounts including Security Deposit and any other deposits if any
paid by the Lessee to the Lessors. The same shall also apply in case of any
subsequent sale or transfer of the freehold ownership rights of the Premises.
j. To abide by and comply with all laws, bye-laws, rules and regulations of the local
bodies and other relevant authorities.
k. The Lessee shall have the right to use and enjoy the lift, entrances, staircase,
landings, corridors, road and passage in and outside the Premises and the right
to ingress to and egress from the property so far as the same are necessary for
the enjoyment of the Premises by the Lessee, the occupants of the Premises,
their servants, agents, customers, visitors and invitees. The Lessee shall have
access to, and the right to use, the terrace of the Demised Premises.
l. To allow the Lessee to enjoy quite and peaceful possession of the Premises
during the entire Term of the lease and any renewal thereof without any
interruption by the Lessors or any persons lawfully claiming either through or
under or in trust for the Lessors or otherwise howsoever.
m. It is agreed between the Parties that this Lease Agreement shall supersede any
or all other Agreements entered earlier and any or all other promises made by
the Lessee to the Lessors in writing.
11. INDEMNITY
Lessee has taken on Lease the Premises relying on the faith of the
representations, declarations and warranties made by the Lessors and the
Lessors hereby indemnifies the Lessee and agrees to keep indemnified at all
times and in future during the Term of this Lease, to the fullest extent against all
losses, damages, costs, fees (including attorney’s fee), penalties suffered
/incurred by the Lessee on account of any representations, declarations,
warranties and covenants of the Lessors in respect of any matter in connection
herewith being untrue or false or for any other act of commission or omission by
the Lessors.
Upon the occurrence of any event beyond the control of the parties including fire,
accident, riots, flood, earthquake, storm, or any other natural calamity, terrorist
activities, war, insurgency activities, any governmental or municipal action,
prohibition or restriction which in any way adversely affects the right of the
Lessee to peacefully enjoy or use the Premises (hereinbefore and hereinafter
“Force Majeure”), the payment of Rent from the Lessee to the Lessors shall
stand suspended during the subsistence of such Force Majeure. The Lessee as
the party affected by the Force Majeure may notify the Lessors in writing, upon
which the Force Majeure suspension would be deemed to have commenced. If
such Force Majeure continues to operate for a period exceeding 60 (sixty) days,
the Lease may be continued or terminated with immediate effect at the sole
option of the Lessee and no rent shall be payable by the Lessee in such case, for
the entire office space.
13. TERMINATION
Either Parties shall not be entitled to terminate this Lease Deed during the Lock-in
period agreed under Clause 2.3 hereinabove. Keeping in view the huge investment
made by the Lessee towards interiors etc., it is agreed between the Parties that the
Lock-in period of the Lessors shall stand extended till the term of this Lease. However,
after expiry of the common lock-in period, the Lessee alone shall be entitled to
terminate this Lease at any time without assigning any reason whatsoever after giving
Three (3) months notice to the Lessors and upon expiry of the notice period the Lease
shall stand terminated. It is however agreed that the Party which proposes to terminate
the lease during or before the expiry of the Lock-in-period, the Party doing so shall be
allowed only upon paying the rent for the remaining term of the lock-in period.
Notwithstanding anything stated herein above, the present lease shall stand terminated
upon the Lessee’s failure to pay lease rent for a continuous period of 2 months except
for reasons as agreed under Clause 14 of this Agreement. Upon occurancce of any
such default, the Lessors shall serve a, fifteen (15) days rectification notice in writing to
the Lessee, failing which the Lease shall stand terminated and the Lessors shall be
entitled to take action in accordance with law.
It is agreed between the Parties that in case of breach of any of the covenants,
obligations, representation and warranties agreed by the Lessors herein under this
Lease Agreement, the Lessee shall issue notice in writing to the Lessors calling upon
the Lessors to provide necessary clarification and to cure such breach within 10 days
from the date of the notice. In case of Lessors not curing such breach within 10 days
from the date of issuance of notice by the Lessee, the Lessee shall be entitled to
terminate this Agreement notwithstanding any Lock-in period agreed under Clause 2.3
of this Agreement. This clause shall be without prejudice to the other rights available to
the Lessee in accordance with Law and under clause 11 & 14 of this Agreement.
On the expiration of the said term or period of the lease or earlier termination thereof
and subject to Lessors promptly refunding the Security Deposit and any other Deposit,
the Lessee shall hand over vacant peaceful possession of the Demised Premises to the
Lessors in the same condition in which the premises now exist subject to the normal
wear & tear and also obtaining NOC as detailed in Clause 4(3) hereinabove.
That the Courts at Bangalore alone shall have exclusive jurisdiction to entertain
and try any dispute and/ or difference arising out of or in connection with the terms
of this Lease.
The cost of stamp duty and registration charges and other incidental expenses in
connection with execution and registration of the Lease Deed shall be borne by the
Parties.
17. NOTICES
All notices required to be served by either of the Parties hereto upon the other shall
be deemed to have been duly and effectually served if delivered by hand or
addressed by Registered A. D. post at the following addresses and such service
shall be deemed to have been effected in the case of delivery by hand, on the date
on which it is so delivered and in the case of delivery by Registered A.D. post on
the date the Registered A.D. notice is received by the addressee:
Either party may notify to the other in writing of any change in such address for
services of notice upon it.
18. DISPUTE RESOLUTION
In the event of any dispute arising under or out of or in connection with this Lease
Deed, including any question regarding its existence, validity, interpretation,
implementation or termination, the Party raising such dispute shall serve the other a
notice in writing, upon receipt of which the Parties shall at the first instance attempt
in good faith to resolve such dispute amicably. In case of dispute not getting
resolved within 45 days after receipt of a written notice from one Party to the other
Party then either Party may refer the dispute to be finally resolved by arbitration as
per Arbitation and Conciliation Act, 1996 as amended from time to time. The
Arbitration shall be conducted by a sole arbitrator mutually agreed and appointed by
the parties. The language of Arbitration shall be English and the venue of arbitration
shall be Bengaluru, India.
19. SEVERABILITY
If any provision of the Lease Deed shall be held to be illegal, invalid or
unenforceable, in whole or in part, under any enactment or rule of law, such
provision or part shall to that extent be deemed not to form part of the Lease
Deed, but the legality and enforceability of the remainder of the Lease shall not
be effected.
20. WAIVER
This Agreement constitutes the entire agreement between the Parties and
supersedes all communications, negotiations, arrangements and agreements,
whether oral or written, between the Parties with respect to the subject matter of
this Agreement.
It has been agreed between the LESSORS and the LESSEE that the original
Lease Deed shall be kept with the LESSEE with a photocopy to the LESSORS.
SCHEDULE-1
All that piece and parcel of the immovable property bearing site No. 346, in Katha No.
382 of Bruhat Bengaluru Mahanagara Palike(BBMP). Situated at SFS, 407, 4th Phase,
Yelahanka New Town, Bengaluru -560064, measuring East to West 12.12 Mtrs and
North to South 16.00 Mtrs. In all measuring 194.40 Sq. mtrs or 2091.744 Sq.ft. and
bounded by:
IN WITNESS WHEREOF the Parties hereto have set their respective hands on this
Deed hereof the day and year first hereinabove written.
Lessor Lessee
Mr. Sampath Kumar. G For M/s Atria Convergence Technologies
Ltd.
_____________________ _________________________
(Authorized Signatory)
WITNESSES
1. ____________________ 2. _____________________
Name : Name :
Occupation : Occupation :
Address : Address :
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