LEASE DEED
THIS LEASE DEED is made on this the 1st day of April, 2000 between M/S IRON
TRADERS PRIVATE LIMITED, having its registered office at X-000, Xxxxx Xxxxxxxxxx
Xxxx, Xxxxx-X, Xxx Xxxxx-000000 through its representative Sh. Xxxxxxx Xxxxx
Hingal S/o Sh. Xxxxxxx Xxx Hingal, R/o BS-S5 B; Shalimar Bagh, Deli-110052
(hereinafter referred to as the "LESSOR/OWNER") and M/S REALTIME SYSTEMS LIMITED
having its office at X-00, Xxxxx Xxxxxxxxxx Xxxx, Xxxxx-X, Xxx Xxxxx-000000
through its Asst. Manager (P&A) Mr. Sandi Biman, S/o Sh. X.X. Xxxx, R/o 112, Lok
Viher Appts, Xxxxx Xxxx, New Delhi-18 (hereinafter referred to as the "LESSEE")
of the other part.
WHEREAS the LESSOR, M/S IRON TRADERS PRIVATE LIMITED, is the owner of the
Factory Premises Xx. X-000, Xxxxx Xxxxxxxxxx Xxxx, Xxxxx-X, Xxx Xxxxx-000000,
duly installed with Industrial Power (about 100 H.P.), commercial light and
subsoil water facilities and having DDA leasehold rights.
AND WHEREAS the LESSEE, M/S REALTIME SYSTEMS LIMITED has approached the
LESSOR/OWNER for the grant of Permission to use the factory premises Xx. X-000,
Xxxxx Xxxxxxxxxx Xxxx, Xxxxx-X, Xxx Xxxxx-000000 duly installed with Industrial
Power, Permanent commercial light and water facilities for the purpose its
office/workshop for manufacturing of Telecom equipment to use the said premises
for Commercial/Industrial purposes by the LESSEE & their representatives,
business associates, legal representative etc. in the said premises on Lease for
a period of three years at a monthly Lease Money of Ra.1,40,000/- (Rupee One
Lacs forty thousand only) (After tax deducted at source as per 1. Tax Act.),
excluding consumption charges of Industrial power, Commercial light, Water,
Telephone, Generator set.
AND WHEREAS the LESSOR/OWNER has agreed to grant Lease to the LESSEE, M/S
REALTIME SYSTEMS LIMITED to use the aforesaid factory premises, X-000, Xxxxx
Xxxxxxxxxx Xxxx, Xxxxx-X, Xxx Xxxxx-000000.
NOW IT IS HEREBY EXPRESSLY agreed and declared between the parties as under:
1. That the LESSEE, M/S REALTIME SYSTEMS LIMITED has undertaken to pay a
sum of Rs.1,40,000/- (Rupee One Lacs forty thousand only) (After tax
deducted its source as per 1. Tax Act) per month as monthly lease,
money payable always in advance before the 10th of each English
Calendar month.
2. That the LESSEE M/S REALTIME SYSTEMS LIMITED shall pay the consumption
charges of Industrial Power, Commercial Light and water charges
directly to the authorities concerned, as per bills, always in time and
the LESSOR/OWNER shall not be responsible in case of dis-connection due
to non-payment of bills.
The LESSOR shall have no objection for making any temporary partition,
cabins, xxxxxxxx, alterations in the demised premises to be associated
by the LESSEE at its own cost of A/cs Telephones, Computers, Water
Coolers, etc. But at the time of termination of the lease agreement
LESSEE shall remove all such equipments & hand over the vacant
possessions to the Lessor/Owners.
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3. That the LESSEE shall keep the premises in a sanitary and clear
condition and shall pay the cost of making goods any damage there to or
to the adjacent premises caused by the negligence or misuse of the
premises by the LESSEE or its agents/employees/workers etc., and the
LESSEE shall indemnify the LESSOR/OWNER against any loss or damage to
the factory premises caused by fire or otherwise by any other reason.
4. That the LESSEE shall not change the constitution of its company and
shall not change the user of the premises as stated in the Lease
Deed/Agreement, neither this LESSEE nor any of the rights conferred by
it shall be transferred or assigned to any other person/firm/company
etc., nor shall the factory premises or any part thereof be allowed to
be used by any other person/firm/company doing business in its name
etc.
5. That the LESSEE shall be responsible for any damages to the premises
due to fire, any disputes, between the workers of the LESSEE and the
LESSEE shall repair and maintain the leased premises and keep the same
in a good sanitary condition.
6. That the LESSEE shall not deal in and store any inflammable/combustible
goods or any such other goods prohibited under the By-laws framed by
Municipal Corporation of Delhi/Delhi Development Authority or any other
Government Body.
7. That the LESSEE shall pay all taxes and impositions on account of the
office carried on by it in the said premises and the LESSOR shall not
incur any liability in respect of the same.
8. That the LESSEE shall not make any encroachment and shall confine
itself only to the aforesaid portion of the factory premises for the
running of its Office & Work shop & other business activities.
9. That the LESSOR shall not be responsible for the safety of the
goods/machines or any other materials or articles, belonging to the
LESSEE M/S REALTIME SYSTEMS LIMITED or to any other person connected
with the LESSEE or visiting the LESSEE nor shall the LESSOR/OWNER be
liable for any loan or damage or injury to the premises, lying at any
time in or around the said factory premises, by reason of theft, fire,
pilferage, emergency, risks, other risks, seepage, leakage of water
from any part of the building, or from any cause whatsoever. The
goods/articles, machine things etc., lying in the premises, shall be
strictly at the risk and responsibility of the LESSEE.
10. That the LESSEE shall comply with all the laws, by-laws, encroachments,
statutes, rules and regulations and sets of Municipal Corporation of
Delhi, Delhi Development Authority, Land & Development Officer, New
Delhi Municipal Committee, Delhi Administration, DBV, DWB, Central
Government, Delhi Government, R.B.I., Export-Import Bye-laws, or any
other local body or authority. In case, the LESSEE contravenes any of
the aforesaid rules, regulations, acts or bye-laws etc., and any
penalty or damage is imposed by the authorities, in such an event, the
LESSEE will be solely responsible and the LESSOR/OWNER shall not incur
any liability whatsoever. The LESSOR has no objection. LESSEE for the
installation of Generator Set in the premises.
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The House Tax or other future tax on the premises to be levied by the
Govt. Authorities is to be borne by the LESSOR only. But any Tax which
is levied due to the business of the LESSEE shall be payable by the
LESSEE.
11. That the LESSOR/OWNER has not objection if the LESSEE applies and
avails the necessary registrations with the Directorate of Industries,
Small Scale Industries, or any other registrations in connection with
the Import-Export policies and also to deal with any Excise, Sales Tax
Department, and also to apply and avail the Telephone connection,
Telex, Fax, tele fax facilities and another Industrial Power,
Commercial Light, Power connections from DVB to run its
office/Workshops in the said factor premises.
12. That the LESSEE has deposited total a sum of Rs.9,80,000/- (Rupees Nine
lace eighty thousands only) which represents as Ra.5,60,000/+ towards
advance lease rent equivalent to 4 months lease rent adjustable (TDs to
be deducted as per rules framed under the Income Tax Act) and
Ra.4,20,000/+ which is equivalent to three months lease money (interest
free). The LESSEE have deposited this monies with the LESSOR (on
account of Security Deposit) against infrastructure facilities in the
said leased premises and the said security deposit is refundable by the
LESSOR/OWNER to the Lessee as and when the LESSEE will vacater the
premises after clearance of the dues if any.
The LESSEE shall be entirely responsible for any breach of laws due to
their business activities and LESSEE have to make such arrangements at
their own cost and responsibilities such as getting permission/consent
from the Delhi Pollution Control committee for running their business
in the subject premises or another department(s) as per
circulars/notifications issued from time to time.
13. That the Lease Deed has been executed for a period of 3 (Three) years
w.o.f. 1st April, 2000 to 31st March, 2003. In case the LESSEE is
desirous of renewing the Lease for a farther period of 3 years i.e. 1st
April, 2003 to 31st March 2006. It requires at least three months
notice in writing from the LESSEE showing their such intention and will
be renewed for a further period of Three years as given above subject
to 15% increase in the monthly lease money of the last lease rent paid
by the LESSEE. However the
14. That the LESSEE shall not sublet, assign or otherwise part with the
possession of the demised premises to any one without the pre-consent
of the LESSOR/OWNER in writing.
15. That the LESSEE shall permit the LESSOR/OWNER, its agents/surveyors and
workmen to enter the demises premises at any time for the purpose of
inspection or repair of the demised premises.
16. That the LESSEE to deliver the demised premises to the LESSOR on the
expiry or earlier on termination of the lease of the factory premises,
X-000, Xxxxx Xxxxxxxxxx Xxxx, Xxxxx-X, Xxx Xxxxx-000000, together with
fullmap & fixture in such good condition as is consistent with the
covenants and conditions of the arrangements.
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17. Electric Connections exist in the demised premises. Extra power, if
required, shall be arranged by the LESSEE at its own cost, to which the
LESSOR/OWNER shall have no objection.
18. That if the monthly lease money i.e. Ra.1,40,000/- (Rupees One lacs
forty thousand only) (After tax deducted at source as per X.Xxx Act)
hereby reserved and agreed shall be in arrears, or not paid by the
LESSEE M/S REALTIME SYSTEMS LIMITED TO THE LESSOR/OWNER M/S IRON
TRADERS PRIVATE LIMITED in accordance with the terms and conditions
contained and agreed herein then in such events, circumstances the
legal consequences will follow, however the LESSOR/OWNER M/S IRON
TRADERS (P) LTD. Shall intimate in writing to the LESSEE M/S REALTIME
SYSTEMS LIMITED Thirty (30) days with prior notice/intimation before
taking any such strong actions.
19. This Lease Deed can be terminated before expire date - by both the
LESSOR OR LESSEE side and for this purpose at least three months notice
in writing is required.
IN WITNESS WHEREOF the parties hereto have signed this Lease
Deed/agreement after having fully understood the contents of the terms
on the date mentioned herein above.
WITNESSES:
1. LESSOR/OWNER
IRON TRADERS PRIVATE LIMITED
2. LESSEE
M/S REALTIME SYSTEMS LIMITED
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