PROPERTY TYPE : INDUSTRIAL

LOCATION : Plot no. 180, Sector-8, IMT MANESAR,

Gurugram, Haryana
RENT : Rs. 13,26,151.50/- (Average Annual)
STAMP DUTY : Rs. 20,500/-
LEASE TENURE : 5 (Five) Years
STAMP Certificate No. : G0272018B2190
GRN NO./ DATED : 33898244 / 27.02.2018
STAMP ISSUED : ONLINE

LEASE DEED

This Lease Deed is executed at Manesar, Gurugram on this 25th Day of June 2020

Between

DR. ARORA HEALTHCARE PVT. LTD., [ PAN No. AABCD8359F ] having its registered office at 1681/6,
Bhagirath Palace, Delhi - 110006 through its duly Authorized Director SHRI SIDDHARTH ARORA vide
board resolution dated 03rd January 2018, (hereinafter called the ‘LESSOR’ which expression shall include
his/her/their heirs, executors, administrators, representative, successors, assignees etc. etc.) of the ONE
PART

And

M/s GRASP ELECTRIC PVT. LTD., [ CIN ……………………………………] [PAN No. ………………… ] having its
registered office at …………………………………………………………., through its duly Authorized Director
SHRI RAJINDER MANDIRATTA vide board resolution dated ………………….., (hereinafter called the
‘LESSEE’, which expression shall include his/her/their heirs, executors, administrators, representative,
successors, assignees etc. etc.) of the OTHER PART

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WHEREAS the LESSOR is the lawful owner and has absolute possession of the Industrial premises
bearing Plot No. 180, measuring 1,012.50 Sq.Mtr., situated at Sector-8, IMT Manesar, District
Gurugram - 122050, Haryana, having Total Built-up/Covered Area of 20,815.13 Sq.Ft. (comprising of
Basement, Ground Floor, 1st Floor and 2nd Floor) allotted by HSIIDC Ltd. vide its Regular Letter of
Allotment (RLA) dated 09.04.2004 and subsequently Conveyance Deed Vasika no. 1144 dated
14.12.2009 was executed by HSIIDC Ltd., in favour of the Lessor.

And Whereas the LESSOR have agreed with the Lessee to grant to the Lessee under the terms of this
Lease, an Entire Building and its Premises, having Built-up Area of 20,815.13 Sq.Ft. approx. (hereinafter
referred to as ‘THE DEMISED PREMISES’) duly constructed on plot bearing no. 180, Sector 8, IMT
Manesar, District Gurugram, Haryana -122050, for carrying out Manufacturing activity of Electrical
Penals and Insturments , in THE DEMISED PREMISES, for Initial term of 5 Years, commencing from
August 01, 2020.

NOW THE LEASE DEED WITNESSSETH AS UNDER:

1. That this Lease Agreement shall be for an initial period of 5 years (Five Years) commencing from
01st August 2020 to ending on 31 st July 2025. However, the Lessee shall have an option to renew
the Lease for an another 1 (one) term of 5(Five) Years and the lock-in-period shall be for initial
24 months only commencing from 01 st August 2020. If the Lessee is desirous of terminating this
Lease Agreement after the aforesaid lock-in of 24 Months, it may do so by giving the other 3
months (three months) advance notice in writing. On termination of the Lease Agreement, the
Lessee shall vacate and deliver vacant possession of the Demised Premises to the Lessor.

2. During the initial 24 months lock-in period, The Lessee may terminate this Lease Agreement. If
Lessee desires to terminate this Lease Agreement during the 24 months lock-in period, i.e. prior
to 31st July 2022, they will be liable to pay the other party the rent of the remaining months of
the lock-in period as penalty.

3. That the Lessor hereby demises unto the Lessee all that the Demised Premises for an initial
period of 5(Five Years) commencing from 01st April 2018 to 31st March 2023. However, the
Lessee shall have an option to renew the Lease for another 1 (one) term of 4 (Four) Years. The
rent shall start from 01st April 2018. The Lessor will deliver the vacant possession of the Demised
Premises to the Lessee and the Lessee paying therefore unto the Lessor during the said period a
monthly rent as provided herein below to the Lessor in respect of the Demised Premises
payable in advance by 1st to 7th Day of each and every English calendar month. Rent paid after 7 th
of Calendar month shall attract 18% interest on the delayed payment.

4. That the portions like entrance-gate, passage, stairs, shafts/ventilators and service/facilities like
jet pumps shall be common portions/property for use/convenience of all the occupants of the
building. No obstruction will be allowed in common stair/area. That the Lessee shall access the
second floor of the building for repair/maintenance of water tank/Fire Fighting Utilities only.

5. THE LESSEE HERBY CONVENANTS WITH THE LESSORS AS FOLLOWS:

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(i) The Lessee shall pay to the Lessors for the Demised Premises a sum of Rs. 1,50,000/-
(Rupees One Lakh, Fifty Thousand Only) Per Month, Plus Goods And Service Tax,
subject to income tax deduction at source. The Lessee shall start paying rent regularly to
the Lessor w.e.f 01st April 2018. The rent shall be increased by 5% after the expiry of
every 12 Months of the lease period on the last rent paid. The rent shall be exclusive of
charges for consumption of electricity and water payments which shall be paid at
actuals by the Lessee w.e.f 01st March 2018, directly to the authorities concerned and
give a copy of receipt of the payment to the Lessor.

(ii) To pay all charges and penalties (if any) of electricity and water consumed by The Lessee
in the Demised Premises, and also pay for any telephone (if installed by The Lessee)
during the duration of the Lease Agreement, at actuals, as per the meter installed in the
Demised Premises, w.e.f. 01st March 2018, and up to the end, or early termination of
this Lease Agreement. The Lessee will also have to pay the annual Maintenance Charges
levied by HSIIDC.

(iii) That the Lessee shall not use the Demised Premises for any illegal, anti social or immoral
purpose, or unauthorized purpose or use it so as to cause any nuisance or annoyance to
the owners/occupants of neighboring properties. The Lessee shall keep the Lessor
indemnified in this regard. All the legal and illegal liabilities connected with the work
shall be responsibility of the Lessee only.

(iv) That the LESSEE shall use the PREMISES for business /Industrial/ Production purpose
only.

(v) To keep the Demised Premises in neat, clean and hygienic and in good order and
condition at the Lessee’s Cost.

(vi) Not to assign, sublet, underlet, transfer or grant license to use or enter into any
franchise or otherwise part with the possession of the Demised Premises or any part
thereof.

(vii) To permit the Lessor and their duly authorized agents, to enter upon the Demised
Premises during Business hours, after prior intimation to, and approval from the Lessee,
and to view the state or condition thereof and to do any works, acts and things required
in pursuance of the provisions of the Municipal Corporation/HSIIDC or any other
statutory body.

(viii) To repair at its own cost and expenses any damage to the Demised Premises caused by
any act or default on the part of The Lessee, its servants, agents or visitors or by reason

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 of any breach of The Lessee’s covenants herein contained not arising from normal wear
and tear or from daily use or from acts beyond the Lessee’s Control.

(ix) To abide by and comply with all the laws/rules and regulations as may be applicable of
local authorities including HSIIDC, DHBVN, HJB, any municipality in force, any Pollution
board, Labour Act, Factories Act, or any authorities whatsoever with relation to the
business carried on by the Lessee in the Demised Premises and shall not keep or store
any dangerous explosive, fire hazard object in the Demised Premises and shall follow
the laws and bye laws Of Fire Department, Electricity Department, Pollution(Protection)
Act etc., and shall keep the Lessor fully indemnified. The Lessee shall pay all the taxes,
levies, challans, penalties and fines of any kind connected with the business carried on
by the Lessee in the Demised Premises, or connected to any default in following laws
and any type of irregularity related to the business of the Lessee.

(x) To keep the Demised Premises in a good state and condition, reasonable wear and tear
expected. Any damage or breakage caused by The Lessee, baring normal and reasonable
wear and tear, shall be made good by the Lessee.

(xi) The Lessee shall not be responsible for damages to the building resulting from
earthquake, riots, floods, terrorism and all necessary repairs to bring to its original
condition shall be carried out by the Lessor at their own cost. The time taken for such
repairs shall be free from rent (only in respect of such portion which is under repair) for
the Lessee. However The Lessor would not be held responsible for any damages to
property, assets or valuables of Lessee kept in the Demised Premises.

(xii) That the Lessee shall not carry out any structural changes(viz. puncture in slabs, shifting
of beams, walls etc.) without the prior written consent of the Lessor. However, the
Lessee can put up fixtures, partitions, cabins, false ceilings, lights, doors and remove the
removable on expiry/prior termination of the Lease. The Lessee can also put the air-
conditioners, sign display boards etc., which shall be the property of the Lessee and the
lessee has the full right to take it back at any point of time. That all minor day-to-day
repairs and maintenance shall be done by The Lessee at its own cost.

(xiii) Not to store goods of hazardous or combustible nature or which are so heavy so as to
affect the structural safety of the said building or any part thereof.

(xiv) To take all fire preventive measure at its own risk and cost and the Lessee shall ensure
that fire-fighting equipment are properly maintained during the tenancy. However, the
Lessor shall obtain FIRE NOC for the year 2018 and thereafter the subsequent FIRE NOC
shall be obtained by the Lessee at its/their own cost.

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 (xv) To issued TDS certificate regularly to the Lessor, as per the provision of The Income Tax
Act, 1961 in force.

(xvi) The Lessee undertakes to yield up the Demised Premises in as good as a condition
existing at the time of commencement of the lease except for reasonable and ordinary
wear and tear.

(xvii) That at the time of expiry or early termination of the Lease Agreement, the LESSEE shall
handover peaceful possession of the Demised Premises, with all the fittings and fixtures
intact, as provided by The Lessor, baring reasonable and normal wear and tear.

(xviii) That The Lessee or The lessor will not change the major constitution of the company,
(which may transfer ownership of their company), without prior written intimation to
the other party.

6. The LESSOR HEREBY CONVENANTS WITH THE LESSEE AS FOLLOWS;

(i) The Lessor has full right and absolute authority to grant the lease of the Demised
Premises as absolute owner thereof.

(ii) That The Lessee paying the rent hereby reserved and observing and performing the
several covenants and stipulations herein before on its part contained shall peacefully
hold and enjoy the Demised Premises during the said term without any disturbance
and/or interruption by The Lessor or any person lawfully claiming under the Lessor.

(iii) That it is further clarified that the Lessor have full right to mortgage, create any charge
or otherwise the demised premises in favour of any bank/financial institution or any
other person(s) and also go for rent capitalization without any objection by the Lessee.
However, under such circumstances, The Lessee has full right to evaluate if it desires to
continue with this lease Agreement, and may choose to withdraw / terminate this Lease
Agreement without any penalty. The Lessor must inform the Lessee in writing of any
such change in conditions, with a notice of 3 months.

(iv) That the Lessor at any time during the Lease Tenure Sells or Transfers its rights or
interest in the said area/ covered area/demised premises as a whole or in part thereof,
then the Lessee shall have no objection to it, subject to the Lessor making/providing the
same arrangement with the prospective transferee(s) on the same terms and conditions
contained herein. The Lessor shall inform the Lessee at least 2(Two) month in advance
of any such sale/Transfer.

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 (v) That The LESSEE will be provided with 10 KW Power load at the Demised Premises,
without Power Backup. Any further requirement or arrangement will be met at LESSEE
owns cost.

(vi) That the Lessor shall hand over physical possession of the Demised Premises to the
Lessee on 01st March 2018 after carrying out all agreed patch works, repairs, painting,
agreed modifications, civil works, attachment of fixtures and fittings, leak proofing of
roof,etc.

(vii) The Lessee shall at the time of occupation, ensure that all the electrical and other
fittings provided by the Lessor are in good working condition. The Lessee shall not
remove any fittings, fixtures, etc. provided by The Lessor in the Demised Premises,
without the prior written consent of The Lessor.

(viii) That the Lessor shall obtain the necessary Lease permission, from HSIIDC, for leasing the
premises in favour of Lessee, at Lessor own expense. However, Lessee will make
available all documents as and when required.

(ix) Maintenance Responsibility: The Lessee shall be responsible for any minor day-to-day
repairs arising from The Lessee’s activities in the Demised Premises. However, all major
repairs including structural, civil, electrical (Meter, and Internal Wiring towards fixtures),
etc., and also such things as water seepage, leakages, or any other major repairs or
upkeep of the Demised Premises will be the responsibility of the Lessor. The Lessee will
inform The Lessor about any such requirement or circumstances in writing.

(xix) That the LESSOR, or their authorized agent shall acknowledge and give valid for duty
stamped receipt, for each and every payment made by the LESSEE, if so desired by the
LESSEE and such receipt shall be conclusive proof of such payment.

6. PROVIDED AND IT IS HEREBY AGREED BY AND BETWEEN THE LESSORS AND THE LESSEE AS
FOLLOWS:

(i) That the Lessee has paid to the Lessor, a sum of Rs. 4,50,000/- (Rupees Four Lakh Fifty
Thousand Only) as Refundable Interest Free Security Deposit, vide cheque no. 004763
dated 03.01.2018 drawn on HDFC Bank Ltd., for Rs. 2,50,000/- and cheque no. 000881
dated 28.02.2018 drawn on ICICI Bank Ltd., Branch Manesar for Rs. 2,00,000/-, the
receipt of which the Lessor hereby acknowledges. The amount shall be retained by The
Lessor as interest free refundable security deposit and will be refunded at the time of
termination of the said Lease against handing over the vacant Physical possession of the
Demise Premises to the Lessor, simultaneously as The Lessee hands over the possession
of the Demised Premises to The Lessor. However, the Lessee shall have an option to
renew the Lease for an another 1(one) term of 4(Four) Years and in case of extension of

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 contract the lessee will proportionally increase the Interest Free Security Of Three
Months Rent applicable at the time of extension. However, the Lessee shall clear all
outstanding electricity, water, telephone bills, salaries and other charges, dues and
demands, penalties etc., before handing over possession to the Lessor, failing which
such outstanding amounts shall be deducted from the security deposit. In case the
Lessor fails to refund the security deposit to the Lessee, simultaneously upon handing
over the possession of the demised Premises by the Lessee to the Lessor, then the
Lessor shall be liable to pay an interest @ 18% per annum for the delayed period to the
Lessee.

(ii) That the Lessee has also issued 3 post dated cheques favoring the Lessor, as rent for the
first quarter of the Lease Agreement, which shall be encashable each and every month.
The Lessee ensures that the said cheques shall be duly honored on the due date and
shall not make any attempt to stop payment under the said cheques. The above rent is
exclusive of GST applicable or any future taxes levied/applicable on rent, and subject to
TDS.

(iii) That it is further agreed that the present lease is registered for a period of 5(five) years
commencing from 01st April 2018 and ending on 31st March 2023. However, the Lessee
shall have an option to renew the Lease for an another 1(one) term of 4(Four) Years.
That after expiry of the Lease period, the Lessee shall hand over the vacant, physical
possession of the Demised Premises to the Lessor in the same condition and is now,
subject to normal wear and tear expected. No further extension/renewal shall be
granted unless mutually agreed between the parties in writing.

(iv) That Lessee has option to vacate the premises, after the Lock In Period, by giving
3(Three) months notice.

(v) That no lift has been provided in the said building. The Lessee if requires can install a lift
on his/her/their own expense. The electricity bill and maintenance for the lift, to be paid
by Lessee. Any lift or any other fixture, equipment, etc. installed by The Lessee is the
sole property of The Lessee, and may be removed by the lessee at any time during the
lease period, or at its termination, without any intimation to The Lessor.

(vi) That the lessee shall have right to put its signboard, name plate, etc. on the outer facade
on the front of the said Demised Premises.

(vii) That the Lessee shall and must ensure compliance of all the statutory regulatory,
mandatory provisions including all applicable rules and regulations while using the
Demised Premises.

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(viii) That after the expiry of the Lease Period as per terms of Lease Agreement, the Lessee
shall hand over/deliver the physical possession of the Premises to the Lessor without
any notice from the Lessor.

(ix) On Expiry of this lease or earlier termination or extended period thereof in case of new
agreement, as the case may be, as mutually agreed, the Lessee shall vacate and deliver
vacant possession of the Demised Premises to the Lessor. The Lessee will make all
reasonable efforts to vacate and deliver vacant possession of the Demised Premises to
the Lessor. However if Lessee fails to do so, it will be given an extension of 7 days from
date of termination of Lease Agreement or as the case may be, to do so. If The Lessee is
still not able to vacate the Demised Premises, then The Lessee will be bound by the
terms of this Lease Deed to pay a penal rent @ Rs. 20,000/- (Rupees Twenty Thousand
only) per day, which shall be over and above the rent herein reserved, till such time that
the Demised Premises are not handed over in vacant condition to the Lessor. However
this will not be treated in any circumstances as extension of the contract. However, this
provision will be invalid if there is any delay from The Lessor in refunding the Security
Deposit to The Lessee (provided proof of all dues paid has been provided by The
Lessee), simultaneously during The Lessee vacating the Demised Premises, upon the
early termination or expiry of this Lease Agreement, as per the terms and conditions
contained herein.

(x) That notwithstanding anything contained in these presents, this lease shall be liable to
be terminated forthwith by the Lessor on the happening of any of the following events:-

a) If the rental payment are in arrears for two consecutive Months, or

b) If the event of breach of any of the terms and conditions to be observed or
performed by the Lessee and such breach remains un-cured beyond 15 days from date
of such beach,or
c) If the Lessee is declared insolvent/goes in liquidation

On termination of the lease, the Lessor shall be entitled to re-enter the Demised
Premises and take possession thereof. The Lessee shall not in any way hinder or
obstruct the resumption of possession by the Lessor. Further in any such event The
Lessee shall be liable for any lease amounts or damages. In any such event, the Lessor
after deducting the amount payable, if any, shall refund the remaining security deposit
to the Lessee immediately. The refund of security deposit (after adjustments if any) and
hand over of the actual, physical, vacant possession of the Demised Premises back to
Lessor shall be simultaneous.

(xi) That any notice required to be served upon the Lessee shall be served upon by
Registered A.D. Post or left at the Demised Premises and duly acknowledged by the
Lessee or any Representative.

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 (xii) That any notice which may be required to be served upon the Lessor shall be sufficiently
served and given if delivered to it by registered A.D. post or left at the address given in
the Agreement or change intimated to Lessor and duly acknowledge by the Lessor.

(xiii) That the original Lease Deed shall be kept by the Lessor and its attested true copy shall
be kept by the Lessee.

(xiv) That all expenses of this Lease Deed viz. Stamp Duty etc. have been borne and paid
equally by the Lessee and Lessor.

(xv) That this transaction has taken place at Gurugram and as such Gurugram, and Haryana
Courts shall have exclusive jurisdiction to entertain any dispute arising out or in any way
touching or concerning this deed.

IN WITNESS WHEREOF the LESSEE and the LESSOR have signed this LEASE DEED in the presence of the
following witness:

Signed and Delivered by the within named

LESSOR

For M/s DR. ARORA HEALTHCARE PVT. LTD.

SIDDHARTH ARORA (Director)

Signed and Delivered by the within named

LESSEE

For M/s HI-LUX AUTOELECTRIC PVT. LTD.

KANWALJIT KAUR (Director)

WITNESSES:

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1. ……………………………………… 2. ……………………………………..

Name: Name :

Address: Address:

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