AGREEMENT OF LEASE

This Lease Deed is executed at Ganaur on this 10th June 2016 by and
between:
Mr. Jai Pal, S/o. Khema, Chirsami Village, Tehsil- Ganaur, District Sonipat, PIN Code: 131101.
(hereinafter called the Lessor, which term shall, unless the context
requires otherwise, mean and include his successors, legal
representatives and permitted assigns) of the One Part;
AND
M/s Advanta Limited, a Company duly incorporated under the Indian
Companies Act, having its office at # 8-2-418, 3 rd Floor, Krishnama
House, Road No.7, Banjara Hills, Hyderabad - 500034 (hereinafter is
referred to as LESSEE, which expression shall wherever the context so
permit, means and include all its representatives and permitted
assigns of the Other part.
A. Where as the Lessor has represented that he is the absolute
owner and peaceful possessor of agricultural land
admeasuring 4.253 Acres comprised in Khewat No. 123/119,

Khatoni No. 148, situated at Chirsami Village, Tehsil- Ganaur,

District- Sonipat, PIN Code: 131101.
B. Which is more clearly defined Schedule annexed to the lease
deed (hereinafter referred to Schedule Property) and agreed to
lease.
C. The Lessee relying upon the representation of Lessor has agreed
to take the same on lease.
D. The Lessor and the Lessee now wish to record in writing the terms
and conditions of the Lease in the manner provided in this Lease
Deed.
NOW THIS DEED WITNESSTH AS FOLLOWS:
1. GRANT OF LEASE
1.1.

Grant: In consideration of the lease rents reserved herein and

subject to the terms and conditions contained herein, the Lessor
hereby grant to the Lessee and the Lessee hereby accepts the
Lease of Schedule Property together with all rights and
easements, for the term herein fixed and upon the conditions
and covenants hereinafter contained.

1.2.

Commencement of Lease: The Lease of the Schedule Property

shall commence on 10th June 2016 (hereinafter called Lease
Commencement Date).

2. PURPOSE OF LEASE
2.1. Purpose: The Lease has been granted to enable the Lessee to
carry on its
research and development activities relating to seeds, to develop
improved variety of healthy hybrids seeds of high quality,
operations related to the seeds, and such other lawful business
or operations as it may choose to carry on (hereinafter called
Operations).
3. TERM
The term of the Lease shall be for a period of One (1) year
commencing from the Lease Commencement date 10th June
2016 (hereinafter called Term) and shall conclude on 9th June
2017. Notwithstanding anything contained above, either party
may terminate the lease without any cause before the expiry of
the term, by giving the other party Six (6) months prior notice

in writing or by payment of rent at the option of the Lessee, in

lieu of such notice.
3.1

Rent will be paid in advance for every year.

3.2.
Renewal: Unless either Party has terminated the Lease prior to
the expiry
of the Term, the Lessee shall have the option, at its sole
discretion, to extend the Term of the Lease. The Term of the
Lease may be renewed for such further period as the Parties may
agree on substantially the same terms as contained herein,
including escalation of Lease Rent if any.
4. RENT
4.1 Starting from the Lease Commencement Date, the Lessee agrees
to pay to the Lessor, Lease rent of Rs. 60,000/- (Rupees
Sixty Thousand Only) per Acre per annum in respect of
Schedule Property land.
4.2

The Lessee shall be entitled to deduct tax at source if applicable

at the rates prevalent at the time of payment of Lease Rent to
the Lessor. The Lessee shall furnish the relevant certificate of
tax deducted at source from the Lease rent. Agricultural land is
exempted from tax deduction.

5. CHARGES AND EXPENSES

During the Term of the Lease from and after the Lease
Commencement Date, the Lessee shall, in addition to the Rent
also bear and pay the following charges and expenses in respect
of the Schedule Premises.
5.1.

Electricity: The Lessee shall pay all electricity charges

consumed during the period of lease. Without prejudice to the
above, the Lessee shall not be liable to pay any outstanding
electricity charges or additional charges due in respect of the
Schedule Premises prior to the Lease Commencement Date, or
after the date of expiry or termination of the Lease.

5.2.

Other Charges: The Lessee shall be liable to pay all cost

needed for labour and other operational cost.

5.3.

No other charges: The Lessee shall be entitled to use and

enjoy all the common facilities, amenities and benefits provided
for in this Lease Deed. The Lessee shall not, unless explicitly set
out in this Lease Deed, be required to pay any other or further

charges or amounts, in respect of the Schedule Property, to the

Lessor or to any other person under any circumstances.
6.
LESSORS
WARRANTIES

OBLIGATIONS

REPRESENTATIONS

AND

6.1.

The Lessor shall provide the required water necessary for

irrigation of the Lessees operations. Lessors shall provide the
motors, pump sets, pipelines and other irrigation facilities
located on the scheduled Property in working condition. All such
assets and appliances provided by the lessor to the lessee and
attached or otherwise to the scheduled land are listed in
Annexure A, attached to this agreement. The Lessee shall
hand over the same equipment in same working condition while
vacating the Scheduled Property. The Lessor shall deliver the
scheduled property leveled and free from bushes on the Lease
Commencement date. Expenses towards fencing for the entire
land shall be born by the lessee. If the irrigation facility is not
available in the land, Lessee shall arrange the drillingy of bore
well and the same cost of drilling of bore well, motor, GI pipes
and cable shall be born by the lessee. 100% of the same cost
shall be recovered from Lessor on installment basis.

6.2.

The Lessor warrant and represent that they have good title and is
the absolute and lawful owner and possessor of Scheduled
Property and further represents that there is no restriction,
obligation or liability which prevents the Lessor from (i) executing
this Lease Deed (ii) providing the scheduled property on lease to
the Lessee (iii) putting the Lessee in peaceful and uninterrupted
possession and occupation of the Scheduled property, and as
and when elected by the Lessee, (iv) permitting the Lessee to
use and enjoy the common facilities there at.

6.3.

The Lessor shall not do or cause to be done any act, deed,

omission or commission that may result in the termination of the
Lease under and through which the Lessor herein draws its right
to lease the Scheduled Property as envisaged under this Lease
Deed.

6.4.

The Lessor agrees and acknowledges that he has no right or title

or claim to any material belonging to the Lessee including
research seed/s, parent seeds, the plants, crop and all other
biological or other material produced or arising directly or
indirectly there from, and the Lessor ensure that unauthorized
persons have no access to the scheduled Property or the
research material there from and to notify the Lessee in the

event that such unauthorized persons attempt to access the

Lessees Scheduled Property. It is recognized that the Lessee
shall have absolute control and possession of the Scheduled
Property to the exclusion of all others. The lessee shall permit the
Lessor or their authorized agent to enter the premises on due
prior notice given for the purpose of inspection. On such
occasions, the Lessor or their authorized agent shall fully comply
with all such safety conditions as stipulated by the lessee and
shall leave the scheduled property immediately on the
conclusion of the inspection.
6.5.

The Lessor agrees and acknowledges that lessee shall have right
to erect temporary or permanent structures including fencing in
the scheduled property if it consider necessary for its operations.
On termination of the lease or otherwise, the lessee shall remove
such structures and other equipments from the scheduled
property at its own cost. However if the Lessor want to purchase
the structures erected by the Lessee they may do so by making
good the amount, for the cost of the structures after mutual
discussion with the Lessee.

6.6.

The Lessor agrees and acknowledges that they shall pay all
statutory taxes, land revenue, municipal dues, assessments,
additional electricity deposit if any levied after the entering of
the lease etc., with respect to the scheduled property for and
during the period of the lease. Lessor shall ensure that these
shall be paid as and when due without any delay, to ensure that
no difficulties are caused to the Lessee and its activities are not
adversely affected.

6.7.

The Lessor warrants to the Lessee that the scheduled property is,
and will always be kept during the lease period, free of all liens,
encumbrances, charges or equities detrimental to the Lessee. In
the event of a dispute arising for any reason whatsoever
hampering the activities of Lessee, Lessor agree to indemnify,
and keep indemnified, the Lessee, to the extent of damage
caused to them. The damages shall be determined by the Lessee
and such determination shall be final and binding upon the
Lessor.

6.8.

The Lessor recognizes and acknowledges that the Lessee has

agreed to take the scheduled Property on lease, only on the
strength of the representations, warranties and obligations
provided and undertaken by the Lessor and the Lessor agrees to
indemnify and hold harmless the Lessee from any disturbance to
its peaceful possession and other losses, claims and expenses

(including attorney-client expenses), that they may suffer on

account of any representations in this Lease Deed being found to
be or becoming false, inaccurate or incorrect or the Lessor failing
to comply with any of the obligations strictly in accordance with
those specified hereunder and as may be applicable under law.
6.9.

No assignment without intimation: The Lessor shall not

transfer, assign, charge, mortgage or otherwise encumber the
Schedule Property without intimating the Lessee. In the event of
the Lessor desiring to transfer, assign, license, charge, mortgage
or otherwise encumber the Schedule property, the Lessor shall,
prior to creating such encumbrance or interest, procure and
provide to the Lessee an unconditional acknowledgement from
the person in whose favour such interest is to be created, that
such transferee, assignee, licensee, mortgagee or other person
as the case may be shall to the extent applicable be bound by
the terms and conditions of the Lease Deed, that he, she or it
shall not disturb the possession and enjoyment of the Schedule
Property.

7. LESSEES RIGHTS, REPRESENTATIONS AND WARRANTIES

The LESSEE has represented and warranted to the LESSOR that:
7.1.

It shall occupy and use the scheduled property for agricultural

research purposes and related activities only.

7.2.

The Lessee shall regularly pay the Lease rent reserved and other
dues in terms of this lease.

7.3.

That the Lessee shall pay all the electricity consumption charges
during the lease period.

7.4.

That the Lessee shall neither assign any part of the scheduled
property nor shall sublet the same to any third party except to its
group companies/subsidiaries/divisions without the written
consent of the Lessor.

7.5.

The Lessee shall be entitled to carry out all minor and major
repairs, additions, alterations and replacements for the day to
day functioning of electrical, water supply, sewerage, fittings and
fixtures and other amenities in the Schedule property at the cost
of the Lessor.

8. FORCE MAJEURE EVENT:

In the event of any damage to the Schedule Property or the land

of which it is a part, due to any reason including but not limited
to war, civil commotion, fire, accident, acts of terrorism, acts of
war, storm, tempest, flood, earthquake or any inevitable accident
or any other irresistible force or an act of God causing damage to
the Schedule land or part thereof to an extent that the Lessee
cannot be reasonably expected to use or occupy the Schedule
Property or part thereof, the Lessor shall attempt to restore the
Schedule property within a period of three (03) months from the
occurrence of such damage at its own expense and during which
time the lease rent shall remain suspended. Provided that if the
Schedule property is not or cannot be so restored the Lessee
may terminate the lease by a weeks notice in writing to the
Lessor and thereupon the lease shall stand terminated without
prejudice to any claim by either party against the other in
respect of any breach that has occurred prior to such
termination.
9. TERMINATION
9.1.

Expiry: Unless terminated in accordance with the terms of this

Lease Deed, the lease shall be valid and in effect for the duration
of the Term and automatically stand terminated upon expiry of
the Term unless renewed further.

9.2.

Termination for convenience:

Notwithstanding anything contained above either party may
terminate this Lease without any cause before the expiry of the
Term, by giving Six (6) months prior notice in writing or by
payment of Lease rent in lieu of such notice at the option of the
Lessee.

9.3.

Rights vested unaffected: Termination of this Lease Deed

shall not affect the rights of the Parties that have vested prior to
such termination.

9.4.

Handover of possession: Upon termination of this Lease for

whatever reason, the Lessee shall hand over the Schedule land
to the Lessor after removing all its belongings, materials, stocks
if any.

10. GENERAL

10.1. The arrangement created by this Agreement shall be one of

Independent contract and not one of partnership, joint venture,
employment, or principal and agent.
10.2. All notices or other documents required to be given or served on
either party may be given and served at the following addresses
and registered letter acknowledgment due sent to these
addresses shall be deemed to be effective service.
For Lessor:

Mr. JAI PAL

For Lessee: Mr. __________________

10.3. Any or all disputes, difference or differences, which may

hereafter arise between the parties hereto under or in connection
with this Agreement shall be referred to arbitration in accordance
with the Indian Arbitration and Conciliation Act, 1996. The venue
of arbitration shall be at Hyderabad.
10.4. Amendments/Variations: No change, variation or modification
of any of the terms and conditions set forth herein shall be valid
unless incorporated as an amendment to this Lease Deed, and
signed by the duly authorized representatives of both the Parties.
10.5. Headings: The headings used herein are inserted only as a
matter of convenience and for reference and will not affect the
construction or interpretation of this Lease Deed.
10.6. Severability: If any provision of the Lease Deed is held to be
unenforceable, illegal or void, all other provisions will
nevertheless continue in full force and effect. The Parties will
nevertheless be bound to negotiate and settle a further provision
to this Deed, which comes as close to the original provision and
which is enforceable, legal and valid.
10.7. Entire Agreement: This Lease Deed constitutes the entire
agreement between the Parties as to the subject matter hereof
and supersedes all previous agreements or understandings, if
any, with respect thereto.
10.8. The LESSOR and the LESSEE have agreed to get this lease
registered in accordance with applicable laws. The Lessee shall

bear the cost of

stamping and registration of this lease.
The lease if renewed at the option of the Lessee, shall be
executed afresh and registered in accordance with law.
10.9. Counterparts:
This Agreement has been read out and explained to the Lessor in
their own mother tongue. The Lessor has declared that he has
understood fully the contents thereof.
In witness whereof the parties due hereby set their representative
hands and seals on that day, month and year first mentioned above in
the presence of the following witnesses.

LESSEE
LESSOR

Witnesses:
1.
2.

SCHEDULE OF PROPERTY
All the piece and parcel of agricultural land admeasuring 4.253
Acres comprised in Khewat No. 123//119, Khatoni No. 148, situated at

Chirsami Village, Tehsil- Ganaur, District- Sonipat, PIN Code: 131101

and bounded as under:
Details of the boundaries of the land:
Khewat No. 123//119, Khatoni
No. 148
East - Land of Vijendra S/O Beera
West - Land of Lal Chand S/O Shobha Ram
North - Land of Approach road side
South - Land of Rajkaran S/O Dhanpat

LESSEE
LESSOR

Witnesses:
1.
2.