LEASE AGREEMENT

This Lease Agreement is made at Gurugram on this day of 08th March, 2018

Between

SHRI VED PRAKASH SAINI [ PAN no. : AALPP2561J ] son of Shri Deen Dayal
resident of H.no. 568, Sector 17, Gurugram – 122002, Haryana (Hereinafter
referred to as “LESSOR”, which expression shall mean and include his heirs
successors, legal representatives or assigns) of the one part.

And

M/s AMAR AUTOTECH PRIVATE LIMITED [CIN : U28910PB2012PTC036011 ]

having its registered office at G.T. Road, Dhandari Khurd, Near Mittal Dharma
Kanda Ludhiana Punjab 141012 through its Authorized Director SHRI
SAURABH THAPAR vide board resolution dated 07.03.2018, (Hereinafter called
“LESSEE” which expression shall include, legal representatives, executors,
administrators or assigns) of the other part.

WHEREAS the Lessor is the absolute owner of the premises of Plot no. 226,
SECTOR-08, IMT MANESAR, Haryana, measuring 450 Sq.Mtr. allotted by
HSIIDC LTD. vide conveyance deed vasika no. 21519 dated 12.01.2018
comprising Basement, Ground Floor and First Floor having total Covered area
of 5984 Sq.Ft. approx. (as per Occupation Certificate.) with open space &
Roof right, with water, sewer and electricity.

AND WHEREAS the Lessee desirous to take on Lease Entire Basement and
Ground Floor having covered/built-up area of 5166.72Sq.Ft. approx. with

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electricity power load of 49 KW(Kilowatt) (hereafter referred to “THE
SCHEDULED PREMISES”.)

AND WHEREAS the Lessor has assured the Lessee that LESSOR will liaison
with HSIIDC for lease permission in favour of the LESSEE, however the LESSEE
will provide the necessary project reports/documents needed for approval. Cost
for seeking the said approvals / permissions will be borne by the LESSOR.

AND WHEREAS the Lessor has offered to the Lessee after mutual
understanding the complete built up Premises forming integral part of this Lease
Deed for setting up a Manufacturing Unit of Automotive Components related
activities and Office for their business and Lessee and the Lessor have duly
consented for such arrangements.

AND WHEREAS the Lessee has approached the Lessor for taking the above
mentioned built-up premises on lease for the purpose of setting up its
Manufacturing Unit under the name and style of “AMAR AUTOTECH”, for a
lease period 11(Eleven)Month commence w.e.f. 01.04.2018

NOW, THIS AGREEMENT WITNESSES AND THE PARTIES HERETO AGREE

AS FOLLOWS: -

1. That in consideration of the rents hereby reserved and of the terms,

conditions and covenants of the lease contained and on the part of the
parties to be observed and performed the lessor hereby agrees to
grant and the lessee hereby agrees to accept a lease of the Scheduled
premises.

2. RENT

The total rent payable by the Lessee for the Scheduled Premises shall
be Rs. 70,000/- (Rupees Seventy Thousand Only) Per Month, Plus
Goods And Service Tax (GST), subject to income tax deduction at
source payable in advance on or before 07th day of the every month.
And in case both the parties to this Agreement desirous to extend the
Lease then there will be an increment of 5% in Rent after every
11Months compounded annually.

3. POSSESION

The Lessor shall handover the possession of the Premises on or

before 01.04.2018

4. DURATION

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 The Lease and Rent shall commence from 01.04.2018 and shall be
enforced initially till 28.02.2019

However, the Lessee has an option to vacate the premises, after

serving 2(Two) months notice during the tenancy period and the
Part paid-up Security Deposit shall be adjustable in 2months notice
period.

5. EXTENTION OF LEASE

Lessee and Lessor shall also mutually extend the tenure by 1(one)
term additional 11(Eleven) Months, after completion on initial Lease
Period of 11(Eleven) Months. (If it is agreed by both the Lessor and the
Lessee) subject to their being no breach of any of the Terms &
Conditions stated herein.

6. INTEREST FREE REFUNDABLE SECURITY DEPOSIT

The lessee has/have paid to the lessor a sum of Rs. 2,10,000/-

(Rupees Two Lac Ten Thousand Only) vide cheque no. 368731
dated 07.03.2018 drawn on Yes Bank Ltd., Gobind Nagar, Ferozepur
Road, Ludhiana, the same shall be held by the lessor as INTEREST
FREE REFUNDABALE SECURITY DEPOSIT during the continual of
the lease and/or the extension thereof and shall be repaid to the
lessee, free of interest at the end of the period of the lease and/or
extension thereof or earlier termination. This will be without prejudice
to any other rights that the Lessee may have in this regard.

7. TAXES, DEPOSITS, ASSESSMENTS CHARGES

The lessee shall pay all taxes, deposits, assessment charges and
other outgoing whatsoever of every description for its business carried
out under M/s AMAR AUTOTECH PRIVATE LIMITED

However, Property related MCG Taxes/ House Tax charges shall be

borne by the Lessor.

AND the Stamp duty and Incidental Expenses for Registration of this
LEASE DEED shall be borne equally by the Lessor and the Lessee.

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8. ELECTRICITY CHARGES / MAIN OF FIRE SAFETY RULES

The lessee shall pay the electricity charges from the date of
possession and the meter reading checked at time of possession i.e.
on 01.04.2018, utilized for the Scheduled Premises as per the actual
meter reading of the electric meter during the period of the lease. The
Lessee shall provide to the lessor the photocopies of the receipted bills
after payment to the concerned authorities as and when demanded.

Further lessee shall follow fire safety rules and always keep safety of
their stall and machines/material.

The Lessor shall get the Fire-fighting Wet system installed in the
building. However all the Fire Extinguishers etc. shall be installed by
the Lessee. Maintenance of Dry/Wet system’s shall be the
responsibility of the Lessee. Also, in case of any Fire/Due to any other
reason attributable to Lessee or any other reasons Like Violence/
accidents. etc., all the damages shall be borne by the Lessee. The
Initial Fire NOC (for 2018-2019) shall be obtained by the Lessor and
thereafter, the subsequent Fire NOC shall be obtained/taken by the
Lessee during tenancy, at its own cost.

9. PERMISSION FOR THE USAGE

The lessee shall be entitled and permitted to use the Scheduled

premises for Manufacturing of Automotive Components only and
shall not use or permit the use of the scheduled premises for any
unlawful purposes or likely to endanger the building. If any permission
is required by lessee then lessor shall help in applying to HSIIDC but
any lease fee demanded by HSIIDC will paid by lessee.

10. SUBLEASE

The lessee shall not be entitled or permitted to assign, underlet or

sublet the Scheduled premises or any part thereof or part with
Possession of the Scheduled Premises or any part thereof to anybody
whatsoever.

11. THE LESSEE COVENANTS WITH THE LESSORS AS FOLLOWS:

a. That the lessee shall keep the Scheduled premises in a fit and proper
state subject to normal wear and tear by day-to-day usage including

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 the fittings and fixtures etc. All damages resulting to the structure,
fixture, fittings and flooring during the lease period shall be made good
by the Lessee to the satisfaction of the Lessor before vacating the
scheduled Premises, normal wear and tear accepted.

b. That the lessee shall permit the Lessor or their representative/agent to

enter the scheduled Premises for inspection at all reasonable times.

c. That the Lessee shall carry out routine repairs of water , sanitary,
phone line, electrical fixture and other fittings therein whatsoever
necessary at its own cost and expense. Not to make or permit anyone
to make any major structural/alterations in the Scheduled premises
without the prior written consent of the Lessor except provision of
wooden/aluminum partition, false ceiling, interior decorations, fittings
and fixtures, air conditioning etc, which may be considered necessary
without damaging the building.

d. To remove all partition, electrical fittings, transformers, fixtures, fans,

air conditioners, etc. installed by the Lessee without causing any major
damage to the structure (i.e. Normal wear and tear excluded) but any
repairs required would be attended while vacating the premises.

12. THE LESSORS COVENANTS WITH THE LESSEE AS FOLLOWS:

The lessee paying the rents hereby reserved and observing and
performing the terms, conditions and covenants of the lease herein
contained shall be entitled to quite possession and peaceful enjoyment of
the Scheduled premises without any manner or let, hindrance,
interruptions or disturbance by or from the lessor, their heirs or by any
person or persons claiming through under or in trust for the lessor or their
representatives. The rights of the lessee under this agreement will not be
affected, by sale or share with respect to the leased Scheduled premises.

13. TERMINATION OF THE LEASE

The lease shall be terminable under all or any of the following

circumstances namely.

a. By efflux of time.

In the event of non-payment of the rent by the lessee for a

period of two consecutive months.

b. In the event of breach by either party of the terms & conditions

and covenants hereof.

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 c. If the scheduled Premises or any part of it is severally damaged
or destroyed due to any unforeseen circumstances or civil
commotion, Acts of God, etc. and these damages are being not
restored to by the Lessee within a reasonable time.

14. HANDING OVER POSSESSION

a. The lessee shall deliver back the vacant possession of the

Scheduled Premises to the Lessor immediately on the expiry of the
said terms or on earlier termination if any, in good and tenantable
condition, subject to reasonable wear and tear upon which the
lessor will return the balance security deposit of Rs. 70,000/-
Interest Free Refundable Security Deposit less any lawful
deduction immediately to the Lessee without any delay. This will be
without prejudice to any other rights that the Lessee may have in
this regard.

b. In the event of the Lessee not vacating the premises at the end of
the agreed period lease, the Lessee shall pay Rs. 5,000/- (Rupees
Five thousand only) per day for the period exceeding the agreed
date of vacation to the lessor. However, if the lessor agrees to
renew the lease for the further period after expiry of the agreed
period of lease then this clause is not applicable.

c. The original copy of this agreement to lease shall be retained by

the lessor and the duplicate copy of this agreement to lease shall
be retained by the lessee.

15. WATER, SEWERAGE AND MAINTAINENCE CHARGES

The lessee shall pay the water, sewerage and maintenance

charges including late payment charges, if any from the day of
possession on Proportionate Basis. The Lessee shall provide to the
lessor the photocopies of the receipted bills after payment to the
concerned authorities.

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 16. JURISDICTION

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 WITNESSES WHEREOF THE PARTIES HERETO HAVE SET THEIR

RESPECTIVE HANDS AND SEALS TO THIS AGREEMENT ON THE DAY,
MONTH AND YEAR FIRST HEREIN ABOVE WRITTEN.

LESSOR LESSEE

________________ ________________________
VED PARKASH SAINI for M/s AMAR AUTOTECH PVT. LTD.
SAURABH THAPAR - Partner

WITNESSES :-

1. 2.

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