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MEMORANDUM OF UNDERSTANDING

This MEMORANDUM OF UNDERSTANDING is made and executed on this 25 th

day of November 2019 at NEREDMET, Hyderabad by and between:-

N. LILAWATHI W/o: Late. NEMURI KUMAR GOUD, age: 40 yrs, Occ:

Housewife, R/o: H. No: 5-3-169, Kummar Basthi, Near Bus stop, Yapral,
Secunderabad, Telangana- 500087
Herein after called the FIRST PARTY (which expression shall, unless repugnant to the
context, mean and include his heirs, executors, administrators and assigns) the party
of the ONE PART.
AND
PEDDIREEDY BHASKER REDDY S/o: P. RAM REDDY, age: 41 yrs,
Occ: Business, R/o: H. No: 1-92/A, Main Road, Chinnakarpamula,
Mahabubnagar District, Telangana- 509412.
Herein after called the SECOND PARTY (which expression shall, unless repugnant to
the context, mean and include his heirs, executors, administrators and assigns) the
party of the SECOND PART.
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WHEREAS First party is the absolute owner and possessor of Residential

house beaing No: 5-3-139/8/B, on Plot No. 8/B, in survey No. 182,
situated at Yapral Village, now within the limits of GHMC, Malkajgiri
Circle, Alwal Mandal, Medchal-Malkajgiri District (previously alwal circle,
Malkajgiri Mandal and Rangareddy Dist), Telangana by virtue Registered
Release Deed bearing Document No: 2461 of 2016 dated 21 st May 2016
registered with SRO: Vallabhnagar.

WHEREAS the First Party in month of February 2018 was facing

financial problems as such was making efforts to mortgage the scheduled
property with the banks and other finance Companies but her efforts
went vain.

WHEREAS the both the parties to this present Memorendum of

understanding have close acquaintance. That the Second Party
approached the First Party for the sake of handloan but she showed her
inability and thereby conveyed Second Party that she was trying to get
loan on scheduled property but could not get loan. The Second Party told
that he would help the First Party in getting loan, as such it was agreed
by First and Second Party that

a) The First party shall execute registered sale Deed in favour of the
Second Party with out sale consideration and only with a condition
to execute Sale deed in favor of First Party after repaying the Loan
amount.
b) The Second Party shall apply loan and out of such loan amount
shall be divided accordingly and take loan on Second Party’s Name.

Both the parties agreed mutually and thereby the First Party executed
Sale deed bearing No: 1637 of 2018 registered with SRO- Malkajgiri
without sale consideration, further the Second Party acquired loan from
REPCO HOME FINANCE LIMITED for an amount of Rs. 64,20,000/-
(Rupees sixty Four Lakhs Twenty thousand Only). That the Second Party
had executed the Memorandum of Deposit of Title Deed bearing no: 1638
registered with SRO-Malkajgiri dated 27th February 2018.

WHEREAS after receiving loan amount of Rs. 64,20,000/- (Rupees sixty

Four Lakhs Twenty thousand Only) both the parties had divided the
amount, First Party had taken an amount of Rs. 30,00,000/- (Rupees
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Thirty Lakhs Only) and remaining amount of Rs. 34,20,000/- (Rupees

thirty Four Lakhs Twenty thousand Only) was taken by the Second
Party.

WHEREAS till date agreements and understanding between the parties

was not reduced into writing. To avoid future complications and
differences both the parties agreed upon the following terms and
conditions.

NOW THIS DEED OF MEMORANDUM OF UNDERSTANDING

WITNESSETH AS FOLLOWS

1. Both the parties shall pay the interest without default to REPCO
HOME FINANCE LIMITED regularly and shall not make any
defaults.
2. It is agreed by both the parties that after repaying the loan amount
to REPCO HOME FINANCE LIMITED, the Second Party shall
execute SALE DEED in favour of FIRST PARTY without any sale
consideration amount.
3. Both the parties herein undertakes that they shall comply with the
conditions of this MOU and in case of any violation of terms, the
parties herein undertakes to face criminal liability and shall also
liable for all the costs and consequences arising therefrom.

In witness where of this memorandum of understanding is made and

executed in the presences of the witness on the above written 25 th day
November, 2019.

Witnessess :

1)Name: FIRST PARTY

Address: N. LILAWATHI

2)Name : SECOND PARTY

Address: PEDDIREEDY BHASKER REDDY

3) Name:
Address: