AGREEMENT FOR SALE

THIS AGREEMENT FOR SALE

IS MADE AT MUMBAI
ON THIS _____ DAY OF APRIL 2023

BETWEEN

MR. ASHISH ISHWARLAL SHAH

(IT PAN NO: AAHPS 8434 R) & (Aadhar No: 7097 2648 4108),
An Adult, Indian Inhabitant, residing at Flat No. 43, 8 th floor, Dariya Mahal No. 2,
80 Nepean Sea Road, Near Walsingham School, Malbar Hill, Mumbai 400 006
hereinafter referred to as "THE VENDOR" (which expression shall unless it be
repugnant to the context or meaning thereof be deemed to include his legal heirs,
executors, administrators and assigns) of the ONE PART:

AND

MR. LIONEL BARRETTO

(IT PAN NO: ALGPB 0735 N) & (Aadhar No: 8541 5045 3443)
&
MRS. LUCY BARRETTO
(IT PAN NO: ASVPB 0649 P) & (Aadhar No: 3640 1531 0551) jointly, both
Adults,
having address at Flat No. 201, Wing A, Marol Nest Co-operative Housing
Society Ltd., Near Vijay Nagar, Marol Maroshi Road, Marol, Andheri East,
Mumbai 400 059 hereinafter referred to as "THE PURCHASERS" (which
expression shall unless it be repugnant to the context or meaning thereof be
deemed to include their respective legal heirs, executors, administrators and
assigns) of the OTHER PART.

Page 1 of 8
A) WHEREAS S. S. Jain (Sarojini S Jain) had purchased and acquired by way of
allotment the Row House No. 35, Customs Colony “B” Co-operative Housing Society
Ltd., admeasuring 1380 sq. ft. built up area at Military Road, Marol, Andheri (East),
Mumbai – 400 059 situated at Land CTS No: 129 of Village Marol Taluka Andheri in
Mumbai Suburban District (hereinafter referred to as “the said Row House”) vide
Letter of Allotment dated 15/10/1994 by Customs Colony Co-operative Housing
Society Ltd.

B) The said S. S. Jain (Sarojini S Jain) transferred the said Row House for a valuable
consideration to Smt. Jayakumari I. Shah vide Articles of Agreement dated
08/04/1985 along with Deed of Confirmation dated 30/07/1999 duly registered with
Sub Registrar of Mumbai vide Sr. No. BBJ – 4798 – 1999 dated 31/07/1999 and had
paid the full sale consideration of the said flat as per that agreement.

C) Smt. Jayakumari I. Shah passed away on 19/09/2018 and husband Mr. Ishwarlal
Ratanchand Shah passed away on 06/01/1992 and she had left behind her four legal
heirs namely her Daughter Smt. Neelam Abhay Sanghvi, daughter Smt. Alka Jayant
Choksi, daughter Smt. Sadhna Deepak Talajia and son Mr. Ashish Ishwarlal Shah and
as her legal heir / son Mr. Ashish Ishwarlal Shah had applied to Customs Colony “B”
Co-operative Housing Society Ltd for transfer of 100% share of mother late. Smt.
Jayakumari I. Shah in the membership of the Society in his name. And accordingly,
his request was considered by the said Society and the 100% share in the membership
of the Society was transferred in his name by the Society and the Share Certificate
was endorsed on 11/11/2018 in his name.

[D)] The legal heirs Daughter Smt. Neelam Abhay Sanghvi, daughter Smt. Alka Jayant
Choksi and daughter Smt. Sadhna Deepak Talajia have executed a Deed of Release
dated 28/11/2019 duly registered with Sub Registrar of Andheri-3, Mumbai Suburban
District vide Sr. No. BDR9 – 13620 – 2019 dated 28/11/2019 in favour of their
brother Mr. Ashish Ishwarlal Shah to and released their respective individual share in
his favour and thus, Mr. Ashish Ishwarlal Shah became the 100% share owner of the
said Row House and member of the Society.

D)[E)] The VENDOR herein MR. ASHISH ISHWARLAL SHAH is absolutely seized
and possessed of and well and sufficiently entitled to the said Row House No. 35,
Customs Colony “B” Co-operative Housing Society Ltd., Military Road, Marol,
Andheri (East), Mumbai – 400 059.

E)[F)] The VENDOR herein is a member of Customs Colony “B” Co-operative Housing
Society Ltd., having Registration No: BOM / W-KE-HSG / TC / 11641 / 2002-03 of
Year 2002 and is holding 5 (Five) fully paid-up shares of Rs. 50/- (Rupees Fifty Only)
each bearing Share Certificate No: 31 and bearing distinctive share numbers from 171
to 175 (both inclusive) with right to possess and occupy the said Row House.

Page 2 of 8
F)[G)] The VENDOR has represented to the PURCHASERS that :-

[1.] The VENDOR is the Absolute owner Owner of the said Row House and as such
is in exclusive use, occupation and possession of the said Row House and no other
person/s has any possessory or occupancy right in respect of the said Row House.

1.[2.] There is no loan, lien, mortgage, encumbrances on the said Row House and the
said Row House are not subject to any other claim, demand, encumbrances,
attachment or any processes issued by any Court or Authority.

2.[3.] That the said Row House are not the subject matter of any litigation nor are the
same attached in execution of any decree and that no acquisition proceedings are
pending before any authority whatsoever.

3.[4.] That the VENDOR has not entered into any Agreement or Arrangement orally
or written in respect of the sale and transfer of the said Row House with any other
person/s.

4.[5.] That the VENDOR has not created any adverse right or interest in respect of the
said Row House whereby the VENDOR is prevented from selling, transferring and
conveying the same in favour of the PURCHASERS.

5.[6.] That the Society maintenance charges, BMC property tax, repair charges, etc.,
in respect of the said Row House payable to the Society have been paid by the
VENDOR upto the actual possession of the said Row House.

6.[7.] The VENDOR has obtained NOC from the said Society to sale the said Row
House.

7.[8.] If there are any hindrances in handing over the peaceful, complete and vacant
possession of the said Row House or any claims due to any act of VENDOR till
the date of actual possession of the said Row House is handed over to the
PURCHASERS, then the VENDOR hereby agrees to indemnify and keeps
indemnified, the PURCHASERS for the losses and costs that may incur / suffer by
the PURCHASERS.

8.[9.] Subject to the above understanding and the declaration and the representation
made by the VENDOR, the VENDOR herein has agreed to sale and transfer the
said Row House No. 35, Customs Colony “B” Co-operative Housing Society Ltd.,
Military Road, Marol, Andheri (East), Mumbai – 400 059 to the PURCHASERS
and the PURCHASERS have agreed to purchase and acquire the said Row House
from the VENDOR on certain terms and conditions hereinafter appearing.

9.[10.] The parties hereto desire that the terms and conditions and covenants be
reduced to writing as follows.

Page 3 of 8
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED,
DECLARED, RECORDED AND CONFIRMED BY AND BETWEEN THE PARTIES
HERETO AS FOLLOWS:

(1) The VENDOR hereby agrees to sale and transfer to the PURCHASERS and the
PURCHASERS hereby agrees to purchase and acquire from the VENDOR the 5
(Five) fully paid-up shares of Rs. 50/- (Rupees Fifty Only) each held by the
VENDOR bearing Share Certificate No: 31 and distinctive shares No: 171 to 175
(both inclusive) and Row House No. 35, Customs Colony “B” Co-operative
Housing Society Ltd., situated at Military Road, Marol, Andheri (East), Mumbai –
400 059 admeasuring 1380 sq. ft. built up area and with all its right, title, interest
and benefits and more particularly described in the First Schedule hereunder written
at a total consideration of Rs.2,65,00,000/- (Rupees Two Crore Sixty Five Lakh
Only) and the said total sale consideration is to be paid by the PURCHASERS to
the VENDOR as per Clause No: 2 of this agreement.

(2) a) The PURCHASERS have paid on or before execution of this agreement an

amount of Rs. 62,60,173/- (Rupees Sixty Two Lakh Sixty Thousand One
Hundred Seventy Three Only) to the VENDOR as part consideration towards
agreed sale price of the said Row House, the receipt of which the VENDOR
hereby admit and acknowledges.

b) The PURCHASERS have deducted Rs. 2,65,000/- (Rupees Two Lakh Sixty Five
Thousand Only) as the Income Tax TDS @ 1% of agreement value as per
provision of Income Tax Act from the total sale consideration payable to the
VENDOR and the necessary payment challan and TDS certificate will be issued
to the VENDOR in due course of time.
c) The Purchasers agree that in case of failure of the handing over the Challan or
non-visual of the credit of the TDS Amount, then the Purchasers agree to pay all
the charges, penalties and indemnified the vendor’s from the prosecution which
may be adopted by the statutory authorities for the failure of the Purchasers and
in addition, the Purchasers agree that they shall pay the balance amount which is
deducted as TDS more particularly mentioned above along with interest at 18%
P.A. till the date of realization.

d)[c)] The PURCHASERS hereby agrees to pay the balance amount of

Rs. 1,99,74,827/- (Rupees One Crore Ninety Nine Lakh Seventy Four Thousand
Eight Hundred Twenty Seven Only) to the VENDOR as full and final
consideration towards agreed sale price of the said Row House within 30
working days from the date of registration of this Agreement for sale. The
PURCHASERS have declared to the VENDOR that this balance payment they
are making from own funds / bank loan and for which the VENDOR has agreed
to co-operate fully and furnish all required documents, society NOC, mortgage
NOC and any other requirements of the housing loan where the VENDOR is
concerned.

e) Time is the essence of this Agreement. The Purchasers shall be entitled only for
extension of 15 days for the due-performance and on failure of which the vendor
shall be entitled to rescind this agreement and the vendor shall be entitled to
 forfeit the sum of Rs. 25 Lakhs and the balance amount will be refunded by the
vendor only on the purchasers relinquishing all their rights, title and interest in
the said Row house and all the expenses incurred in executing any such writings,
documents, deeds as required and statutory fees shall be borne by the Purchasers
and the Purchasers agree not to claim these amounts.
f) The purchasers agree that in cases of failure of the Purchasers to avail the loan
from any authorities for any reason, then there shall not ask for an extension for
complying with their obligations for this reason whatsoever and shall arrange to
pay the balance consideration to the Vendor within the stipulated period as
agreed in this agreement failing which the clause e) as mentioned above will be
applicable and will be exercised by the vendor.

(3) The VENDOR hereby declares:

(a) The VENDOR hereby declare that he is the owner of the above said Row House
and he has full rights, title, benefits and interest in respect of the said Row
House and he has absolute power and authority to sale and transfer above said
Row House to the PURCHASERS and that no other person or persons have any
rights, interest, claim on the ownership on the above said Row House.

Page 4 of 8
(b) There is no lien, loan, charges, encumbrances and mortgage of whatsoever
nature on the said Row House.

(c) That the VENDOR declares that his membership in the said Society is valid and
subsisting and not terminated by the said Society and he has not received any
notice of expulsion from the membership of the said Society or any other notice
restraining him from sale / transferring the said Row House and the said shares.

(d) That he has not entered into any agreement with any one and the possession of
the said Row House is with him.

(e) That he has paid the up-to-date maintenance charges, municipal property tax,
electricity and any other charges to the said Society / authority and he is not in
arrears of any charges payable to the said Society / authority till today.

(f) That neither the VENDOR nor anybody on his behalf have done, committed or
omitted any act, deed, matter or things whereby the ownership rights of the
VENDOR in respect of the said Row House is affected in any manner.

(g) That there is no attachment and/or prohibitory order by any Government and/or
local authority or any injunction by any Court restraining the VENDOR from
the sale / transferring of the said Row House and handing over of the possession
of the said Row House and thus, he has got the clear and marketable title of the
said Row House and the said Row House is not subject to any litigation in any
Court of Law.
(4) The VENDOR hereby agrees and undertakes to indemnify the PURCHASERS
against all expenses, claims, charges, suits, suit-demands and losses of whatsoever
nature for the period till the date of this agreement and handing over of possession of
the said Row House, which may hereinafter be brought against the said Row House
and to make good such losses suffered and/or to be suffered by the PURCHASERS
on/or after the execution of this agreement if any declaration in above clause is
proved incorrect.

(5) The VENDOR hereby agrees to attend to the office of Sub-Registrar of Andheri,
Mumbai Suburban District, sign and admit execution of this agreement to be lodged
for registration by the PURCHASERS. It is hereby agreed that the stamp duty,
registration fees and other expenses payable for lodging this Agreement shall be
borne and paid by the PURCHASERS alone.

(6) It is agreed that transfer fees and premium on transfer payable to the said Society for
transfer of the said Row House and shares shall be borne and paid by the VENDOR
and the PURCHASERS jointly and in equal proportion (50% - 50%).

Page 5 of 8
(7) On receipt of full and final payment, the VENDOR agrees to transfer all his rights,
title, benefit and interest in the said Row House and shares of the Society together
with the right of allotment and possession of the said Row House in favour of the
PURCHASERS.

(8) On receipt of full and final payment, the VENDOR agrees to sign all transfer forms,
applications, papers, documents, agreements, notices, affidavit, declaration,
indemnity bond and undertaking etc., for effectual transfer of the said Row House in
favour of the PURCHASERS.

(9) On receipt of full and final payment, the VENDOR agrees to surrender, relinquish
and release all his right, title, interest, benefit and claims in respect of the said Row
House in favour of the PURCHASERS and the VENDOR undertakes not to claim
any such right, title, interest, benefit in respect of the said Row House in future.

(10) On receipt of full and final payment, the VENDOR agrees to declare that then after
the PURCHASERS shall become the full and complete owner in all respect of the
said Row House and the VENDOR or his any family members or relatives or legal
heirs or administrators or any assigns shall never interfere with the PURCHASERS
in respect of the said Row House.

(11) The VENDOR hereby agrees to hand over the vacant, peaceful and complete
possession of the said Row House to the PURCHASERS on receipt of the full and
final payment from the PURCHASERS.

[(12)] The VENDOR hereby agrees to deliver to the PURCHASERS original copy of
earlier purchase agreements, Original Deed of Release, original Share Certificate
 and other relevant documents pertaining to the said Row House on receipt of the full
and final payment from the PURCHASERS and / or as and only when the
purchaser’s bank will demand the same at the time of disbursement of bank loan and
handing over the disbursement amount.

(12)[(13)] THE PURCHASERS agree to become the member of the said Customs
Colony “B” Co-operative Housing Society Ltd., and agrees and undertakes to abide
by the bye-laws of the said society and the PURCHASERS hereby agrees and
undertakes to pay to the said Customs Colony “B” Co-operative Housing Society
Ltd., their share of the maintenance charges of the said Row House regularly from
the date of taking possession from the Vendor.

(13)[(14)] All the parties hereto declare and confirm that they have understood the
contents of this Agreement fully in their vernacular language and / or in English
language and they are fully aware about the legal status of the property and it shall
be binding upon them and their legal heirs.

(14) Any other Agreement, writing, oral understanding prior to the execution of this
Agreement shall be invalid and only terms depicted in this Agreement shall be
construed as the terms of the sale.

(15) The Courts of Mumbai shall have exclusive jurisdiction in respect of all matters,
relating to or arising out of this Agreement.

Page 6 of 8
THE FIRST SCHEDULE ABOVE-REFERRED TO

Details of Row House : Row House No. 35,

Customs Colony “B” Co-operative Housing Society Ltd

Area of the Row House: 1380 sq. ft. built up area

Location of property: Military Road, Marol, Andheri (East), Mumbai – 400 059
Land CTS No: 129 of Village Marol Taluka Andheri
Zone 43 / 219 for 2022.

Year of construction: 1997

Building structure : RCC – Ground + Two Floors without lift facility.

RECEIPT

Received a sum of Rs. 62,60,173/- (Rupees Sixty Two Lakh Sixty Thousand One
Hundred Seventy Three Only) from the within named the PURCHASERS, being the part
consideration paid under the terms of these agreement.
Cheque No. / Bank Dated Drawn on Amount Rs.
Transfer / RTGS / NEFT
 TOTAL 62,60,173/-
(This receipt stands valid subject to realization of cheque / pay order).

I SAY RECEIVED

(MR. ASHISH ISHWARLAL SHAH)

VENDOR \ TRANSFEROR

Page 7 of 8
IN WITNESS WHEREOF THE PARTIES HERETO have hereunto set and subscribed
their respective hands and seals to this present on ____/____/2023.

SIGNED AND DELIVERED

by the within named the VENDOR
MR. ASHISH ISHWARLAL SHAH
in the presence of .........…………………...
.............................…………………………

SIGNED AND DELIVERED

by the within named THE PURCHASERS
MR. LIONEL BARRETTO

&

MRS. LUCY BARRETTO

in the presence of .........……………………
.............................………………………….

Page 8 of 8