LEASE DEED

THIS DEED OF LEASE was made and executed on 10th January 2023 at Visakhapatnam.

BY AND BETWEEN

A. Smt. POTNURU LAKSHMI, aged 55 years, W/o Potnuru Arun Kumar, residing at 2-48-
6/2, GF-3, Beach Royale Apartment, Beach Road, Sector – 11, M V P Colony,
Visakhapatnam, Andhra Pradesh – 530017
B. Smt. POTNURU APOORVA, aged 33 years, W/o Lade Santosh Kumar, residing at Flat
no. 1017, Summer B block, Shilpitha Sunflower Apartments, Barewell Road,
Nallurahalli, Whitefield, Bengaluru, Karnataka 560066.

Represented by its Authorized Signatory, hereinafter jointly and severally referred to as the
“LESSORS” of the one part.

AND

Sri HARENDIR SINGH, aged 39 years, S/o Rajendir Singh (Late), residing at M V V K Royal
Gardens, 10-28-03, Flat 104 Facor Layout, Waltair Uplands, Ram Nagar, Visakhapatnam,
Andhra Pradesh – 530002 represented by its Signatory Authority hereinafter termed as the
“LESSEE” of the other part)

WHEREBY the Lessors and the Lessee, in consideration of the rights, privileges, obligations and
agreements contained in this lease agreement, agreed as follows:

1. LEASE AND DESCRIPTION OF THE PREMISES

1.1 The Lessors are the owners of the commercial flats bearing no. 101 and 102 on
the first floor with a total carpet area of 3167 sq. feet, in the building “Indra
Prastha”, measuring 1559.60 sq. yards, Door no. 58-17-5/1A, S. no. 21/1C1 at
NAD Junction, Sanjeeviah Nagar, Netaji Colony, Gopalapatnam Mandal,
Visakhapatnam – 530009. (Hereinafter called the “Said Premises”)
1.2 The Lessee, desirous of taking the Said Premises on lease to carry on their
business operations, has approached and requested the Lessors to grant a lease.
 Whereby the Lessors have agreed to grant the lease in favour of the Lessee in
respect of the Said Premises adhering to the terms and conditions agreed upon in
this lease agreement.

2. LEASE TERM
B.1 The lease shall be for a period of nine (9) years, certain from the date of 1 st February
2023 and expiring on 31st January 2032.
B.2 The Lessee shall be at liberty to vacate the Said Premises or part thereof at any time
during the period of the lease by giving a minimum of three months prior notice.

3. RENT AND SECURITY DEPOSIT

3.1. The Lessee shall pay the Lessors in respect of the Said Premises a monthly rental
of Rs 1,60,000 /- (rupees one lakh sixty thousand only) payable within the seventh
day of each succeeding British calendar month.
3.2. The rent shall be increased by 15% every three (3) years during the lease term.
3.3. The Lessee shall pay the Lessors a sum of Rs 9,00,000 (rupees nine lakhs only)
in respect of the Said Premises as a security deposit, respectively:
a) Potnuru Lakshmi - 4,50,000/- (paid on 14-11-2022)
b) Potnuru Apoorva - 4,50,000/-
3.4. The total sum of rent shall be payable to the accounts held by the Lessors, as per
below:

Name of the Lessor Share Monthly rent payable

S. no.
1. Potnuru Lakshmi 50% 80,000
2. Potnuru Apoorva 50% 80,000

3.5 The rent is an exclusive payment of all taxes, rates, cess, and other levy, including
penalties, if any, charged thereon in respect of the Said Premises, such as Corporation
/ Municipal / Panchayat Tax, Urban Land Tax, etc., due to the State Government,
Central Government or other local or other civic, including enhancements and new
introductions shall be to the account of the Lessor. The Lessee shall be at liberty to
 pay the above tax, rate or cess or other levy, including penalties, if any, charged
thereon in case of default or delay by the Lessor and adjust the amount so paid
together, with interest and other incidental expenses from out of rents in respect of the
Said Premises becoming due immediately after the said payment or demand
reimbursement of all such amounts, costs, expenses, etc.

4. RIGHTS AND LIABILITIES OF THE PARTIES

4.1. The Lessee shall have the right to utilise the leased premises or part thereof for
their various needs.
4.2. The Lessor shall grant all rights of way, water, air, light and other easements to
the Said Premises.
4.3. The Lessor shall have provided a three-phase electricity connection of 25 kW in
flat no. 101 and 15 kW in flat no. 102 and water connection with independent
meter/sub-meter. Further, a parking space, working lift, vitrified flooring, and a
staircase with 1.5 metres shall be facilitated.
4.4. The Lessor has no objection to the Lessee installing the exclusive generator sets
for the use of the Office whether such generator sets are owned by the Lessee or taken
on hire by a Third Party for the exclusive use of the Lessee. Further, the Lessor agrees
to provide suitable space with proper enclosures for installing a generator free of cost.
4.5. The Lessee shall have an exclusive right to the parking space for parking the
vehicles, i.e., for two cars of staff members and customers of the Lessee, and the
same shall not be disturbed, obstructed or encroached in any manner by any persons
whomsoever.
4.6. The Lessee shall pay the monthly maintenance charges and maintain (i. e.
routine day-to-day maintenance) the internal areas of the Said Premises at their own
cost.
4.7. During the lease period, the Lessee shall, over and above the rent herein
reserved, also bear and pay the expenses for the electricity, water and diesel (for the
generator) consumed in respect of the Said Premises.
 4.8. The Lessee shall be entitled to exhibit signboards, displays and advertisements
or any other logo on the designated signage space of 30 1x211 on the first floor
embarked by the Lessor as per the signage rules of the facility.

5. REGISTRATION AND OTHER CHARGES

5.1 Each party is to bear its own legal costs. The stamp duty, registration fee and other
charges towards registration of the lease deed shall be borne and paid by the partners
equally.

SCHEDULE OF THE PROPERTY

A. Commercial Flat No. 101, in the name of Potnuru Lakshmi, Door No. 58-17-5/1A
FF 101, Property Tax Assessment No. 1086564742, Sale Deed No. 1730/22 of
13-05-2022, Sale area of 2017.5 sq. ft. and Carpet area of 1583.5 sq. ft.
B. commercial Flat No. 102, in the name of Potnuru Apoorva, Door No. 58-17-5/1a
FF 102, Property Tax Assessment No. 1086564741, Sale Deed No. 2865/2022 of
08-08-2022, Sale area of 2017.5 sq. ft. and Carpet area of 1583.5 sq. ft.

First floor, total Sale area of 4035 sq. ft. and total Carpet area of 3167 sq. ft., INDRA
PRASHTHA, Door No. 58-17-5/1A, S. No. 21/1C1, NAD Junction, Sanjeeviah Nagar, Netaji
Colony, Gopalapatnam Mandal, Visakhapatnam – 530009, Zone – 5

Boundaries:

On the North – Commercial Flat 103

On the South – Electrical, Fire and Communication duct
On the East – Set back
On the West – Set back
IN WITNESS WHEREOF, THE PARTIES hereto have executed this Lease Agreement on the
day, month and year first above written.

For Smt. Potnuru Lakshmi and Smt. Potnuru Apoorva

(Authorized Signatory)

Name:

Date:

For Sri. Harendir Singh

(Authorized Signatory)

Name:

Date:

Witnesses:

1.

2.