GIFT DEED

THIS INDENTURE made at Mumbai, this 3 rd day of December, 2005 between Niranjan Kothari hereinafter
referred to as “ The Donor”( which expression shall unless it be repugnant to the context or meaning
thereof be deemed to mean and include his respective heirs, executors and administrators) of one part;
AND Dipen Kothari herein =after called ads “ the Donee” (which expression shall unless it be repugnant
to the context or meaning thereof be deemed to mean and include his respective heirs, executors and
administrators) of the other part.

WHEREAS the donor is a member of Bhagwati Bhuvan Co. Operative Housing Society Ltd. (hereinafter
referred to as the said society) and as such member holds 5 fully paid up shares of Rs. 50 each bearing
distinctive Nos. 56 to 60 (both inclusive) under Share certificate no. 12 (hereinafter for the sake of
brevity referred to as the said shares).

AND WHEREAS the society is seized and possessed of an immovable property comprising land together
with building, standing thereon.

AND WHEREAS the Donor as such member is seized and possessed of or otherwise will and sufficiently
entitled to Flat No. 15, on 4th Floor of said building measuring approximately 520 sq. ft. Carpet Area in
said Building Bhagwati Bhuvan No. 2.

AND WHEREAS the Donee is grandson of the Donor

AND WHEREAS the Donor out of natural love and affection which he bears towards the Donee is
desirous of making a gift of the said premises and the said shares to said Donee.

AND WHEREAS the said Dipen Kothari has agreed to accept the said gift from Donor as is testified to by
his joining in and executing these presents.

AND WHEREAS the said premises have a present market value of Rs 63,94,500 (Rupees Sixty-Three lakh
Ninety-Four Thousand Five Hundred Only)

AND WHEREAS the Donee being a lined descendant of Donor Stamp Duty at advaloram rate of 2% on
market value has been hereunto affixed.

NOW THIS INDENTURE WITNESSETH that the Donor without any monetary consideration and out of
natural love and affection which the Donor bears to the Donee, DOTH HERBY GRANT AND TRANSFER the
said flat to Donee by way of gift TOGETHER WITH ALL AND SINGGLAR the liberties, privileges, and
demand whatsoever of the Donor TO HAVE AND TO HOLD the same unto and to use of the DONEE
absolutely but subject to payment of all taxes, rates, and duties now chargeable or hereafter chargeable,
to the municipality, the society or any other relevant bodies and the DONOR DOTH HEREBY COVENANT
with Donor as follows:

a) That the donor now has himself in good, right full power and absolute authority to grant and convey
by way of gift his right, title and interest in the said premises and the said shares in the manner
aforesaid.

b) That the donor has not heretofore done or knowingly suffered or been party or privy to any act, deed,
matter or thing, whereby he is prevented from granting and conveying and making a gift of his right, title
and interest in said premises and said shares hereby granted and conveyed or expressed so to be in the
manner aforesaid.

c) That the Donor may at all times hereafter peacefully and quietly enter upon have occupy, possess and
enjoy the said premises and shares for his own use and benefit without any suit, lawful eviction,
interruption, claim or demand whatsoever from or by the Donor or his heirs, or any persons lawfully
claiming or to claim by, from under or in trust for the Donor.

d) That the right, title and interest of Donor is free and clear and absolutely and forever released and
discharged or otherwise by the donor well and sufficiently saved, kept harmless and indemnified of,
from, and against all former estates, titles, charges and encumbrances whatsoever had made, executed,
occasioned or suffered by the Donor or by any other person or persons lawfully claiming or to claim by
from, under or in trust from the Donor.

e) AND FURTHER that the Donor and all persons having or lawfully claiming any estate or interest
whatsoever to Donor’s right, title of interest in said premises or any part thereof from under or in trust
for the Donor or his heirs or any shall from time to time hereafter at the request and cost of the Donee
do and execute or cause to be done and executed all such further and other acts, deeds, things,
conveyances and assurances in law for better and more perfectly assuring the said premises and the said
shares unto and to the use of the Donee in the manner aforesaid as by the Donee, his heirs, executors,
administrators and assigns or counsel in law shall be reasonably required.

SIGNED AND DELIVERED by the

Withinnamed Donor

Niranjan Kothari

In presence of

Mr. Kishore Kumar

SIGNED AND DELIVERED by the

Withinnamed Donee

Dipen Kothari

In presence of

Mrs. Kishori Agarwal