LEASE AGREEMENT THIS LEASE AGREEMENT is made and entered into at Bangalore on this 1st day of June 2004

between Ingo Property Developers Private Limited, a company registered under the Indian Companies Act and having its Registered Office at 75, 3rd Cross, Residency Road, Bangalore 560025 represented by its DIRECTOR, Mr. Sri K.L.Srihari, herein after called and referred to as the “LESSOR” [which expression shall unless it be repugnant to the context, be deemed to include all the Partners present or future, survivor or survivors of them and their respective legal heirs, legal representatives, executors, administrators and assigns] of the ONE PART. AND Omnicare Clinical Research India Private Limited, a Company incorporated under the provisions of the Indian Companies Act, 1956 and having its Registered office at No. 208,II Floor, Midford House, Off M G Road, Bangalore - 560001 represented by its DIRECTOR, Mr. Pai hereinafter called the “LESSEE” [which expression shall, unless repugnant to the context or meaning thereof, be deemed to include its successor and assigns] of the OTHER PART.

WHEREAS A. The LESSOR is the absolute owner of a part of the premises named “The Estate”, on fourth floor of the Complex on the property bearing and situated at Dickenson Road Bangalore, measuring 5300 sq. ft. built up area as per building plans submitted to the LESSEE and more fully described in the schedule hereunder and referred to as “THE SCHEDULE PREMISES”.
B. The LESSEE is desirous of taking the SCHEDULE PREMISES on lease and in

that context, has approached the LESSOR for a lease being granted to the LESSEE in respect of the SCHEDULE PREMISES. The LESSOR has agreed to grant lease of the said SCHEDULE PREMISES upon the terms and conditions hereinafter agreed, both the LESSOR and the LESSEE have mutually agreed to reduce the terms and conditions of the lease into writing C. That in pursuance of the above said agreement and in consideration of the monthly rent herein reserved and service charges stipulated and all the covenants, conditions, agreements hereinafter contained, the LESSOR hereby demise unto the LESSEE all that 5300 Sq. Ft. in the fourth floor of the SCHEDULE PREMISES more fully described in the schedule hereunder together with all rights, liberties, advantages, in any way connected and enjoyed with the said SCHEDULE PREMISES

1. Monthly Rental : Monthly Rental of Rs 265,000 (Rupees Two Lakhs Sixty

Five Thousand only) shall be paid to the LESSOR on or before the 5th of the every calendar month
2. Monthly

Maintenance : Monthly Maintenance of Rs 10,500 (Ten Thousand Five Only) including any related charges that may arise in future shall be paid directly to the Building Management/Association on or before the 5th of the every calendar month. 26,50,000/- (Rupees Twenty Six Lakhs Fifty Thousand Only) shall be paid by the LESSEE to the LESSOR during the tenancy of this Lease Agreement. Token advance Rs.500,000(Rupees Five Lakhs Only) shall be paid at the time of signing of the agreement and the remaining amount Rs. 21,50,000 (Rupees Twenty One Lakhs Fifty Thousand Only) shall be paid on 00.00.2005

3. Deposit/Advance: An interest free refundable deposit amounting to Rupees

4. Lease Period: The agreed term of lease is for 3 (Three) years with effect from

November 1st 2005 with a lock in period of One year.


Escalation of Rent: The rental portion is subject to escalation of 5 % (Five Percent only) per annum from the beginning of the Second year of the lease. possession and make arrangements for Modification if any to the said premises as per Annexure, within 30 days from signing of this agreement and on payment of full advance of Rs. 26,50,000/-.(Rupees Twenty Six Lakhs Fifty Thousand Only)

6. Possession of the Premises & Modifications: LESSOR shall handover the

7. The LESSOR does hereby acknowledge the receipt of Rs………….. vide DD No………. dated ………… drawn on …….. Bank,……… branch towards the said deposit

1. The Tenancy month shall be an English Calendar month commencing

from first day of each month ending with the last day of the same month.
2. The LESSEE shall not be entitled to sub-let the SCHEDULE PREMISES

or any portion thereof or to transfer and assign the lease and the benefit, there-under without the prior written permission of the LESSOR.
3. In case of default in payment of the rent by the LESSEE for three

consecutive months, the LESSOR reserves the right to enter the premises and take possession of the SCHEDULE PREMISES deemed to have been vacated by the LESSEE without giving any notice whatsoever. The Rent for such months and an additional one month as liquidated damages shall be deducted from the deposit paid by the LESSEE to the LESSOR.
4. The LESSEE shall pay all charges for the consumption of electricity and

water as per separate meter/s installed in the SCHEDULE PREMISES. It is hereby agreed that the LESSOR shall provide and ensure normal supply of Electrical power, water and such services and amenities as required and applicable to the SCHEDULE PREMISES as prescribed under the building and / or municipal rules, regulations and laws. The payment for such other services and amenities shall be on such terms and conditions as may be agreed and as will be applicable to other LESSEE in the SCHEDULE PREMISES. The LESSEE shall pay all the bills for charges of the electricity consumed as per the bills issued by the electric energy provider as soon as the bills thereof are presented to the LESSEE, according to the separate electric meters. 5. The LESSEE shall permit the LESSOR or its agents from time to time and at all reasonable times during office hours in the day upon sufficient notice with or without workmen and others to enter upon the said SCHEDULE PREMISES to view the state of affairs and conditions of the same. Provided, however, it is hereby agreed that such permission by the LESSEE shall be subject to the permission or approval of such authorities as may be required to be obtained by the LESSEE.

6. Upon the expiration of the period of lease or its earlier expiration herein provided, the LESSEE shall yield and deliver unto the LESSOR peaceful possession of the SCHEDULE PREMISES on the LESSOR returning the security deposit. However, if the LESSOR fails to refund the said Security Deposit, simultaneous with the LESSEE handing over vacant and peaceful possession of the said demised premises and if the LESSOR fails to return the said deposit after a grace period of 15 days from the date the said deposit is refundable, the LESSOR shall pay to the LESSEE until such time that the said amount is refunded, interest at the rate of 4% (four percent) per month on the said amount.
7. To use the said space only for the purpose of carrying on the business of

the LESSEE and not to do or permit to be done upon the said space anything which may create or cause nuisance or annoyance or disturbance to other occupiers of the building occupying the other portion of the said building or other buildings. Not to damage the space in any manner. 8. The LESSOR undertakes and declares that he has good right and title and interest in the Demised Premises and has full power and absolute authority to give the Demised Premises on Lease to the LESSEE. LESSOR hereby declares and confirms that the Demised Premises is free from all encumbrances, court attachments and other charges of whatsoever nature and the LESSOR has good and clear title to the said Demised Premises. In case any body else has any objection of whatsoever nature as regards the arrangements arrived at between the LESSOR and the LESSEE in respect of the Demised Premises, the LESSOR shall indemnify and keep indemnified the LESSEE against all costs, charges, expenses, compensation and damages, if any, at any time. 9. The LESSOR shall keep the entrance and landing leading and/or adjacent to the SCHEDULE PREMISES and the staircases clean and properly lighted.
10. The LESSEE shall be at liberty during the Lease period and the subsequent

renewal thereafter to make or construct at its own cost and expenses any fittings and fixtures in the Demises Premises; and other equipment like cabins and partitions, to put wooden panels, to install additional wiring cables, electrical boards, air-conditioning, air-conditioning plants, generators, DG set, to install telephones, computers, UPS, fax machines, screen shelves, racks sub-blind and / or fittings and things without thereby causing any damage to the Demised Premises, and to make such alterations or additions or charges in the Demised Premises. Provided however, that such alterations or additions shall be in accordance with the building bye-laws and the building’s structural design and safety. It is further understood between the parties that the title to all the aforesaid furniture, fixtures and fittings shall at all times belong to the LESSEE and upon the end of the term of this Lease or the termination thereof, the LESSEE shall have full liberty to remove and or dispose the fittings and


fixtures which they have installed, in any manner deemed appropriate by the LESSEE, provided however that in doing so the LESSEE shall not cause any damage to the demised premises and restore the Demised Premises to its original condition at the time of handing over the premises to the LESSOR subject to normal wear and tear. 11. The LESSOR has provided the normal and standard electric connections, points, fixtures and switches as would be applicable to the SCHEDULE PREMISES. 12. The LESSOR shall allow and permit the LESSEE to affix the LESSEE’S name plate, sign board/s on the exterior of the SCHEDULE PREMISES and also at the main entrance of the SCHEDULE PREMISES and as such other points and places which belongs to the LESSOR as may be considered necessary in consultation with the LESSOR. The LESSOR shall allow and permit the LESSEE at the cost of the LESSEE to display neon signs or other advertisement outside the SCHEDULE PREMISES. However, display of such Sign-Boards or neon lights shall not be put up in a place, where LESSOR is not permitted to do so. 13. In the event of the LESSEE desiring to terminate the lease after the one year lock-in period hereinbefore mentioned, three months’ notice in writing to the LESSOR shall be given and at the expiry of the said period, the lease shall stand terminated. 14. If any notice is required to be given by either party to the other party, the same shall be given by personal delivery or by Registered Post and it shall be deemed to have been received by the party to whom it is sent, if personally delivered, under acknowledgement, if sent by Registered Post on the expiration of 10days from the date of which the envelope containing office notice shall have been handed over to the Post Office for onward transmission. The notice shall be given to the relevant party at their address mentioned hereinbefore, unless otherwise intimated by that party. 15. The LESSOR shall insure the SCHEDULE PREMISES against fire, storm, earthquake and such other risks generally applicable to building. The LESSEE shall be responsible for insuring all their own equipment and officials or workmen against any risk of fire and other accidents of similar nature connected with the use of the SCHEDULE PREMISES. 16. The LESSOR shall carry out the annual maintenance of Air Conditioners, Diesel Generator Set, and the Uninterrupted Power Supply (UPS) system provided by the LESSOR in the said premises. 17. The LESSOR hereby permits the LESSEE to draw power cable through conduits / cable tray from the place of DG Set and / or UPS placed at ground floor / open space / roof top, as the case may be, subject to building bylaws, regulations and procedures.

18. The LESSOR hereby permits LESSEE for 24 Hrs access to the demised premises throughout the term of the lease. 19. To offer full co-operation to the LESSEE to process through an application made by the LESSEE to the Municipal Corporation or any other concerned authorities for obtaining necessary permissions /sanctions which are required by the LESSEE to carry out its business & project.
20. That the LESSEE shall be entitled to peacefully and quietly hold and enjoy

the said premises during the period of the lease or any further renewal thereof without any eviction, disturbance or interruption by the LESSOR or any person or persons claiming by from through under or in trust for the LESSOR or otherwise howsoever. 21. The LESSEE, their servants, agents, employees shall be entitled to use the said space together with the right to access thereto & or all passages, entrances, stairs, lobbies, lifts, porches landings, gates or to other pathways for and ingress thereto and ingress there from to the main road (which shall be held unless exclusively held/appurtenant, in common with other entitled to similar use and without causing any disturbance to others); 22. The LESSOR shall maintain the said space in proper habitable conditions at his cost by carrying out all kinds of major structural repairs and maintenance in respect of the said space whenever necessary. 23. It is hereby agreed between the parties hereto that the LESSOR shall not terminate the Lease during the term of the Lease or its renewal thereof if the LESSEE complies with all the terms & conditions and obligations required to be performed by them under this Agreement but the LESSEE has the option to terminate the lease at any time by giving three months notice to the LESSOR after the initial lock-in period of one year from the date of the start of the lease period. 24. It is hereby expressly agreed that if at any time there shall arise any dispute, doubt or difference or question with regard to interpretation of this agreement or in respect of the rights, duties & liabilities of the parties hereto arising out of these present, then every dispute, doubt difference or question shall be referred to arbitration as per the provisions of the Arbitration & Conciliation Act, 1996 and the rules framed there under. Two arbitrators are to be appointed, one by each of the parties and third to be appointed by the said two arbitrators. The decision of the Arbitrators shall be final & binding to the parties to this deed. 25. The Parties hereto unconditionally and irrevocably agree to submit to the exclusive jurisdiction of the competent courts in Bangalore , India only with regard to any question or matter arising out of this agreement and any other documents that may be executed by the parties hereto or any of them in pursuance hereof or arising here from.

Details of the Scheduled Premises Commercial Property bearing “The Estate” premises situated at Dickenson Road, Bangalore, as detailed below:
Super Built Up Area Power Parking Rent Deposit Generator Consumption Charges Lease Duration Lock In Period Escalation Possession : 5300 sft– 4th Floor : 40 Kva : 2 Car parks. : Rs. 50 per sft + Maintanance : 10 Months : 100% : As per norms : 3 Years : 12 months : 5 % every Year : 30 days from confirmation

IN WITNESS WHEREOF the LESSOR and the LESSEE referred to above have set their respective hands at Bangalore on the date, month and year first above written.

Signed for and on behalf of INGO PROPERTY DEVELOPERS PVT LTD

Signed for and on behalf of

DIRECTOR Signed in the presence of 1. ………………………. ……………………….

DIRECTOR Signed in the presence of 2. ………………………. ……………………….


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