LEAVE AND LICENSE AGREEMENT

THIS LEAVE & LICENSE AGREEMENT made at Mumbai this 26 th day of

June 2018, BETWEEN

MR. P.G. VORA, aged 81 years, an adult, Indian Inhabitant, presently residing
at Flat No. 3, Shanti Kunj, Lajpatrai Road, Opp. Post Office, Vile Parle (W)
Mumbai – 400056, hereinafter referred to as the ‘the Licensor’ (which
expression shall unless it be repugnant to the context or meaning thereof be
deemed to include his heirs, executors, administrators and assigns) of the One
Part.

AND

MR. RAHUL C. SHAH, aged 42 years an adult, Indian Inhabitant residing at

23, Nirmala Mahal, B- Petite Road, Mumbai 400036, hereinafter called and
referred to as ‘the Licensee’ (which expression shall unless repugnant to the
context or meaning thereof be deemed to include his heirs, executors,
administrators and assigns) of the Other Part.

WHEREAS:

A. The Licensor is seized and possessed of and well and sufficiently entitled
to an Office, situated at 407, Kalbadevi, Daulat Bhauvan, Office No.301,
Third Floor, Mumbai 400 002, situated on plot of land in Bhuleshwar
Division on Kalbadevi Road within the Registration District and Sub
District of Mumbai City hereinafter referred to as the “Said Premises”.

B. The Licensee approached the Licensor with a request to permit the

Licensee to use and occupy a portion of the said premises on leave and
license basis jointly with the Licensor and the Licensor acceded to the
request of the Licensee on the term and conditions hereinafter contained;

C. The Licensor has agreed to permit the use of the portion of the said
Premises by the Licensee jointly with the Licensor on Leave & License
basis for the purpose of using the same by the Licensee for his office.

The parties have entered into this Agreement and agreed to the terms and
conditions set out hereinafter:

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY

AND BETWEEN THE PARTIES AS FOLLOWS:

1. Parties agree that the recitals as contained hereinabove shall form an

integral and operative part of this Agreement as if the same are set out
and incorporated herein verbatim.

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1. GRANT OF LICENSE
The Licensor has granted to the Licensee and the Licensee has accepted
from the Licensor the use of portion of the said Premises on Leave &
License for office purpose to use and occupy the same as Licensee from
26th June, 2018 to 24th June, 2021 i.e. for a period of 3 years, subject
however to the compliance by the Licensee of the terms and conditions of
this Agreement.

2. LICENSE FEES
a) The Licensee shall during the term of the license pay to the
Licensor a license fee of Rs. 1,710/- (Rupees One Thousand Seven
Hundred and Ten only) per month.

b) The License fees is to be paid on or before 7th day of each month.

c) The License fees shall be increased by 9% from 26th December,

2019 to 23rd June, 2021.

d) The Licensee agrees to give 12 post dated cheques for payment of

license fees every year in advance for all three years.

e) The Licensee shall in addition to the License fees bear the electricity
bills of the entire office as per actual bills of the electric supply
company and pay the same to the electric supplying company and
furnish the paid electricity bills every month without fail to the
Licensors.

4. PERIOD

Subject to the determination of license by either parties the license shall

be for a period of 3 years i.e. 36 months commencing from 26th June,
2018 and ending 24th June, 2021 (“Said Term”) provided that the
Licensee shall faithfully observe and perform the terms and conditions of
these presents.

Either parties can rescind/terminate this Agreement by giving a 30 day

notice to the other party of its intention to terminate this Leave and
License. In such an event the Licensor shall refund the amount of
security deposit paid by the Licensee and also the balance unused post
dated cheques on account of License fees and the Licensee shall remove
all its men and material from the premises and cease to use the
premises.

5. HAND OVER/RETURN OF PREMISES ON EXPIRY OF TERM OR

SOONER DETERMINATION:-

Licensee shall hand over/return the premises on expiry of term

herein or on sooner determination thereof to the Licensor. In the
event of absence of Licensor, the Licensee shall hand over/return
the premises to any of the following family members of the
Licensor:

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 1) Mr. Viral Vora (son) or
2) Mrs. Jagruti Vora (daughter-in-law) or
3) Mr. Aditya Vora (grand son)
of the Licensor.

The Licensee further confirms that any of the aforesaid persons can
call upon the Licensee to hand over and return the premises
and/or stop the usage thereof by giving notice as stated herein. The
notice of any of the aforesaid person shall be constituted as notice
of the Licensor and the Licensee shall be bound to remove all his
belongings from the premises, and hand over the same. The term
‘Licensor’ shall include the aforesaid persons as well, who all are
the legal heirs of the Licensor.

6. DEPOSIT:
The Licensee shall pay to the Licensors a sum of Rs. 10,260/- (Rupees
Ten Thousand Two Hundred and Sixty only) as a Security Deposit
without interest for the permission to use and occupy the portion of
the said premises for the period of 36 months at the time of
execution of this Agreement.

7. COVENANTS & OBLIGATIONS OF THE LICENSEE

The Licensee doth hereby covenant with Licensor as follows:-

a) To maintain the said Premises and the furnitures and fixtures in

the Licensed Premises of the Licensor at the Licensee’s own cost
in good repair and condition from the date the Licensee is
permitted to use and occupy the same and shall not do or suffer
to be done anything which may be against the rules and
regulations of the concerned Association, local body or any other
authority. It is expressly made clear that the Licensee shall not
carry out any repairs/work in the licensed premises.

b) The Licensee shall not make any structural alteration to the said
Premises without the prior written consent of the Licensor and
the local body or any other public body or authority whose
permission is required. Provided however, that, the Licensee will
be entitled to install and set up such facilities as may be
reasonably required by the Licensee to use the said Premises for
their purposes.

c) The Licensee shall be entitled to install in the Licensed Premises

telephone lines and broad band lines from the relevant service
providers at their own cost and shall be liable to pay its dues and
whatever deposits that may be required in his name. Under no
circumstances the Licensor shall be liable for any outstanding
bills of such service providers in the Licensed Premises. On expiry

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 or sooner determination of the term herein, the Licensee shall
remove from the licensed premises all such telephone and broad
band lines and shall be further entitled to refund of the deposits.
The Licensee may at their option transfer such lines/services to
any other place of the Licensee.

d) In addition to the monthly License fee, the Licensee shall pay for
all bills for electricity of the entire office, Telephone Bills and
other utilities consumed by the Licensee in the said Premises,
and further the Licensee hereby indemnifies and agrees to keep
the Licensor indemnified against all claims on account of any
dues payable by the Licensee.

e) Not to cause hindrance, nuisance to the Licensor or his

representatives in their work and their visitors.

f) To be liable to pay for or replace any breakage and damages to

the sanitary, electrical and other fittings during the License
period subject to reasonable wear and tear and occurrences due
to natural calamities or external factors. The expenses incurred
by the Licensee for repairing or replacing any such breakage or
damages mentioned hereinabove shall not be claimed from the
Licensor and shall be borne by the Licensee alone.

g) Not to assign, underlet, mortgage or part with the possession of

the said Premises or any part thereof or enter into any
arrangement with anyone or deal with the said Premises in any
manner prejudicially and to the detriment of the interest of the
Licensor or to indulge any act of omission or commission in the
said Premises to the detriment or prejudice of the Licensor and
the Licensee hereby indemnifies and agrees to keep the Licensor
indemnified against all claims, loss or damages that the Licensor
may face or may be put to in respect thereof.

h) On the expiry of the term hereby granted or sooner determination

thereof, Licensee shall cease using the portion of the said
Premises and leave the said Premises in proper condition normal
wear and tear and depreciation always excepted. The Licensee
further covenants that the Licensee shall remove all his
belongings and paraphernalia, on the expiry of this agreement by
efflux of time, or sooner determination thereof. In default, the
Licensee shall be liable to pay an amount of Rs. 7,500/- per day
till the licensee vacates the premises. Without prejudice to the
penalty payable by the licensee, the continuation of licensee in
the premises shall be construed as trespass, for which the
Licensee shall be liable. The Licensor shall have apart from other
rights or remedy at law also the authority to remove the
belongings of the Licensee and keep it outside the premises on

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 the expiry of the agreement by efflux of time, or sooner
determination thereof.

i) The Licensee shall not do anything in the said Premises, which is

not permitted or which is prohibited under the law or is in
contravention of any Bye-law, Rules and Regulations or any
Order of any Central/ State Government, Society or Local
Authority.

j) The Licensee shall observe and perform strictly the terms and
conditions of this Leave & License Agreement and also the
applicable provisions of the law for the time being in force.

k) The Licensee shall not store any prohibited, hazardous or

inflammable articles/goods in the said Premises and shall not
cause any nuisance to the other occupants of the building.

l) The Licensee shall not claim any right or interest of any kind or
nature whatsoever in the said Premises. This writing is not to be
construed as creating any rights in favour of the Licensee by way
of tenancy or otherwise, and this writing is only a mere License in
favour of the Licensee to use and occupy part of the said
Premises. In the event of any change, modification or amendment
in law relating to Leave and License by any act or legislation,
notification, judgment, ordinance or otherwise however, by virtue
whereof the Licensee is granted, conferred upon and/or entitled
to any greater rights other than those conferred under these
presents as contemplated under the Maharashtra Rent Control
Act, 1999 then in such a event this agreement come to an end on
the day prior to such legislation notwithstanding the tenure of the
license granted hereunder.

m) The Licensee shall not alienate, encumber, transfer or assign or

enter in any manner the benefits under this agreement to any
third party, enter into any arrangement with any party or allow
any third party to occupy the said Premises or any part thereof
either jointly or otherwise.

8. PERFORMANCE AND COMPLIANCE OF OBLIGATIONS

The parties hereto shall perform and comply with all their respective
obligations under this agreement in respect of the said Premises which
they may be liable to perform or comply with during the term of the
License, order, notice or requirements of any Government or public body
or authority and if, either party fails to observe or perform any such
obligation, the other party may perform the same and all expenses and
costs incurred thereby shall be recoverable from the defaulting party by
the other party.

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9. MAINTENANCE, REPAIRS AND RENOVATIONS

Subject to reasonable wear and tear the Licensee agrees to maintain the
said Premises to the best of their ability in good operating conditions
without claiming any amount incurred by the Licensee in keeping the
said Premises in good condition on any grounds whatsoever.

10. PAYMENT OF STAMP DUTY & REGISTRATION CHARGES

It is hereby agreed by and between the parties that the parties shall bear
the cost of registration and payment of stamp duty charges on this
agreement in equal proportion. It is further agreed by the parties herein
that they shall bear their respective advocates and solicitor’s fees .

IN WITNESS WHEREOF the parties hereto have executed this Agreement

on the day, month and year first above written.

DESCRIPTION OF THE LICENSED PREMISES

ALL the Premises situated on 407, Kalbadevi, in the building known as

Daulat Bhauvan, Third floor, Office No. 301, Mumbai 400 002 in Bhuleshwar
Division on Kalbadevi Road within the Registration District and Sub District of
Mumbai City.

SIGNED AND DELIVERED )

BY THE WITHIN NAMED “LICENSOR” )
1. MR. P.G. VORA )
PAN No. AAAPV5891J )
In the presence of…… )
1.

2.

SIGNED AND DELIVERED )

BY THE WITHIN NAMED “LICENSEE” )
MR. RAHUL C. SHAH )
PAN NO: AAOPS2216A )
In the presence of: )

1.

2.

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 RECEIPT

Received with thanks from the within named Licensee an amount of Rs.
10,260/- (Rupees Ten Thousand Two Hundred and Sixty only) as and by way
of refundable security deposit as stated herein

I say Received

P.G. VORA
(LICENSOR)

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 __________________________________________

DATED THIS _____ DAY OF ________ 2018

___________________________________________

BETWEEN

. MR. P.G. VORA …..LICENSOR

AND

MR. RAHUL C. SHAH …..LICENSEE

LEAVE AND LICENSE AGREEMENT