LEASE AGREEMENT

This Lease Agreement (“Agreement”) is made and executed on this 11.03.2019 and
between: -

Smt. GADILI RAMADEVI W/O VENKATARAMANA

Resident at D NO .37-10-2 AYYAPPA NAGAR PR GARDEN, VISAKHAPATNAM-

530007,
PAN No. :

hereinafter individually called as the Lessor respectively and jointly called as the
“LESSORS” which term shall mean and include all their legal heirs, successors,
administrators and executors of the ONE PART in favour of: -

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Visage Holdings & Finance Pvt. Ltd.,
a Company incorporated under the provisions of the Companies Act, 1956 and having
its registered office at,
#50, 2nd Floor, 100 Feet Road, HAL II Stage,
Indiranagar, Bangalore 560038

PAN No. AAACV3942K

Represented by its Authorized Signatory,

Mr.R. THIRUNAVUKKARASU (Emp. Code: VIS0003)

Hereinafter called as the “LESSEE” which term shall mean and include all its
permissible successors and assigns of the OTHER PART:

Both “Lessor” and “Lessee” shall together be referred to as “Parties” and individually as
‘Party’.

WHEREAS the Lessors are the owners of the properties which are more fully described
in Schedule “A” herein and hereinafter called as “Schedule Property”. Since the date
of purchase of the Schedule Property, the Lessors are in peaceful enjoyment thereof
with clear and marketable title to the Schedule Property.

The above named Lessee, which is in the business of financial service and other allied
activities, is in need of office space for the functioning of its Branch Office and has
requested and approached the Lessors to let out the Schedule Property for the above
said purpose, and the same has been accepted by the Lessors and the terms and
conditions agreed to between the Parties are as hereunder.

1. The period of this Agreement is for 11 months renewable after every year. Lease
is commencing from 12.02.2020. After expiry of the agreed period of 1 year,

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 parties may extend the lease from time to time on mutually agreed terms and
conditions in writing by the Parties.

2. The Lessee has paid a total sum of to the Lessors in the following manner
(proportionate to the portion of Schedule Property owned by the Lessor
respectively:
95000/-(NINETY FIVE Thousand Only) (the amount of security deposit by
way of RTGS/NEFT to the Lessors in the following manner
Mr.Gadili ramadevi bearing Account no.010610011104702 Andhra bank,
Dwarakanagar Branch, IFSC CODE

which the Lessors hereby acknowledge the receipt of the same before the attesting
witnesses as interest free refundable Security Deposit (“Security Deposit”), to be
refunded by the Lessors to the Lessee without interest at the time of Lessee
vacating and handing over the vacant possession of the Schedule Property but
subject to any deductions that may be made therefrom for any amount may be
due by the Lessee to the Lessors as set out herein.

3. The Tenancy month shall commence on the 1st day of every month and end on the
last day of the same month and the tenancy for payment of rent commences from
(date of rent commencement) or 15 fifteen (days) from the date of actual handing
over of the possession of the Schedule Property after completion of Interior Works,
whichever is later. The Lessee will be given the possession of the Schedule
Property to carry out interior works only upon handing over the Security Deposit
to the Lessors on or before (date when the lessor has agreed to give the possession
of the premises).

4. The Lessee shall pay a total monthly rent of for use and occupation of the
Schedule Property, by way of RTGS/NEFT to the Lessors in the following manner:
16207/-(Sixteen Thousand Two hundred And Seven Only) (the amount of Rent
by way of RTGS /NEFT to the Lessors in the following manner Mr.Gadili

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 ramadevi bearing Account no.010610011104702 Andhra bank, Dwarakanagar
Branch, IFSC CODE;

5. The monthly rent should be paid to the Lessors on succeeding month on or before
5th day of every month without any delay.

6. There will be an enhancement of rent after every 11 months at the rate of 5% on

the last paid rent.

7. The Lessors shall acknowledge the receipt of the monthly rents by issuing valid
acknowledgements/receipts.

8. The Lessee shall pay the rent subject to the deduction of tax at source as per the
applicable laws. The TDS certificate shall be handed over separately to the
Lessors. Service Tax (If Applicable) is to be paid by the Lessee on production of
Service Tax Registration particulars by the Lessors.

9. The Lessors shall pay the building tax, the property tax, cess, development
charges, fees etc. to the municipal or concerned local governmental bodies. Any
other pending utility payments prior to occupation of the premises by the Lessee
or other payments due to authorities ought to be borne by the Lessor.

10. The Lessee shall pay the Electricity charges to the concerned authority on the
basis of usage of units every month for which purpose a separate electricity meter
has been provided with reference to the Schedule Property. Further Lessors shall
provide a minimum 45 KVA, 3 phase of electricity power to the Lessee at Lessors’
cost and Lessee is under no obligation to pay any Power Deposit Charges. The
Lessors shall reasonably ensure regular and adequate supply of water, sufficient
parking space for the parking of two wheelers as set out in the Schedule herein.

11.The Lessors have agreed to provide toilets, facilities for installation AC units ,
windows and grills (specification if any to be added), rolling shutters(specification

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 if any to be added), secured room as required to have by Banks, lift facility
(specification if any to be added) etc.

12.The Lessee represents to pay the Lessors regularly and in a timely manner the
monthly rent as stated hereinabove and such other costs and expenses as agreed
in this agreement including electricity charges or any other utility bills to the
concerned bodies.

13.The Lessee shall not sub-let or sub-lease or assign his interest in the Lease-hold
premises to any person or persons except in favor of its Subsidiary/Joint
Venture/Affiliates/Group Companies.

14.The Lessors shall attend to all the major repairs in the building in the Schedule
Property (which may be in the nature of structural repairs, major leakage etc.)
that may be required from time to time at their cost. The Lessors shall effect such
repairs promptly, within fifteen (15) days, upon the Lessee notifying the Lessors of
the need for any such major repair. That in the event of Lessors fail to attend such
major repairs in-spite of written notice to that effect by the Lessee, the Lessee
shall be entitled to attend to the same and adjust the cost thereof from the Lessor
from the monthly rents payable.

15.The Lessee, for business purposes and for better enjoyment of the building, is
entitled to erect/remove internal partitions, install air conditioners and do interior
decorations and furnish the same with necessary fixtures and fittings without
impairing or causing major damage to the structure. It is clarified that the Lessee
shall not be entitled to make any structural alterations or major repair to the
Schedule Property without written consent of the Lessors.

16.The Lessee shall maintain the Schedule Property along with the fixture, fittings
inclusive of sliding windows, bathroom fittings and electrical switches and
amenities provided at present or at any future date in good order and condition
and make good to the Lessors all costs, losses, damages or repair thereto at the
Lessee’s cost, normal wear and tear is exempted.

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17.The Lessee is entitled to carry out any minor work in the interior at their own
expenses, without which the Lessee shall not be able to function from the
Schedule Property, without affecting the basic infrastructure or making any
structural alteration of the Schedule Property.

18. Further, Lessee is authorized to install facilities like LAN, Networking on the
roof of the building for internet solutions, UPS, EPBX/Telephone and all relevant
works, as per applicable laws and regulations, at their own expense without
causing any permanent damage to the Schedule Property and/or common areas
therein.

19.In the event of any permanent damage being caused to the Schedule Property
and/or common areas therein being solely attributable to the act/s of the Lessee,
the Lessee shall undertake the repair to such damage caused to the Schedule
Property and/or common areas therein at its own cost, failing which the Lessors
shall attend to the same and recover the costs from the Lessee and/or deduct the
same from the Security Deposit.

20.The Lessee has the right to complete the Lease period even if the Schedule
Property is sold by the Lessors to any third party. The Lessors in such an event
shall ensure to attorn the leasehold rights to the new landlord by way of a new
lease agreement executed in writing between the Lessee and the new landlord as
the case may be. The terms and conditions of the existing Lease Agreement shall
remain same and shall not be altered in case of such attornment by the Lessors.
All cost involved in such attornment of lease including registration of fresh
agreement shall be incurred by the Lessor and new transferee.

21.Neither party shall be responsible for any failure or delay on its part in performing
this agreement if such failure or delay is due to force majeure condition, as whole
or in part, such as strike, wars, riots, floods, earthquakes & other acts of God or
of Public Enemy, and any other causes beyond the control of the parties, and the

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 party affected due to the event of force majeure shall inform the other
immediately. If the Schedule Property is damaged or destroyed by an act of force
majeure, and Lessee has come to the decision that the Schedule Premises is not
suitable any more for its use then the Lessee is entitled to terminate the
agreement.

22.The Lessors herein shall keep the Lessee saved and indemnified from and against
all losses and damages that the Lessee may suffer or incur by reason of any defect
in title of the Lessors in the Schedule Property and / or by reasons of any
restriction against the Lessors in letting out the Schedule Property to the Lessee.
Further, Lessors represent that the Schedule Premise has been permitted for office
use and charges required to be incurred, if any, to regularize the usage of the
premise is required to be borne by the Lessors.

23.The Lessee is entitled to erect its and its group concerns signage board, neon sign
boards etc (specifications if any to be added) at appropriate places in the Schedule
Property including in the roof of the building as per applicable laws and
regulations and remove the same at the time of vacating the Schedule Property,
without causing any damage to the Schedule Property.

24.The Lessee shall keep the Schedule Property in a good and tenable condition
during the tenancy period subject to normal wear and tear.

25.The Lessors hereby covenant that the Lessee shall enjoy the possession of the
Schedule Property free from any disturbance by the Lessors, legal representatives
and any other third party claiming through them.

26.The Lessors hereby covenant that the Lessee shall have unhindered access and
enjoyment of all the common space like passages etc., of the Schedule Property
free from any disturbance by the Lessors, legal representatives and or any other
third party claiming through them. The entrance, lobby, terrace, and other

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 common areas and facilities available will be common to all occupants of the
building.

27.The Lessors or their authorized representatives shall have the right to enter upon
and inspect the Schedule Property at all reasonable hours on any day after giving
1 (one) day notice to the Lessee.

28.It is specifically agreed between the Parties that the Lessors shall undertake to do
emulsion painting of the Schedule Property as per the color scheme of the Lessee
provided by the Lessee to the Lessors prior to commencement of the Agreement.
Such painting charges as applicable at the time of the Lessee vacating the
Schedule Property shall be deducted by the Lessors from the Security Deposit.

29.The Lessors shall be entitled to deduct the arrears of rent, unpaid electricity
charges if any, with reference to the Schedule Property, repair costs of damage
caused to the Schedule Property, if any, on account of acts solely attributable to
the Lessee and painting charges as applicable at the time of the Lessee vacating
the Schedule Property out of Security Deposit at the time of Lessee vacating and
handing over the vacant possession of the Schedule Property.

30.The Letter of Intent for Lease issued by the Lessee and accepted by the Lessors
dated shall be read as part of this Lease Agreement and binding on both the
Parties.

31.The Lessors and the Lessee shall equally share the Lease registration, stamp duty
charges or any other charges incidental to the registration of lease agreement.

32.The Lessors hereby covenant that the Schedule Property is adequately insured
against any loss or damages.

33.The Lessors hereby further declare that the land or the lease hold premise has not
been mortgaged to any banks or financial Institutions. Further Lessors

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 undertakes to intimate to the Lessee any future charge or mortgage over the lease
premises during the tenancy period.

34.Lessee is at liberty to terminate this Lease Agreement by giving 60 days (Sixty

days) prior written notice. This prior notice to terminate the lease shall not apply
when the termination is a result of actions by the regulatory/municipal bodies for
violation of rules/bye laws/building norms, which are solely attributable to the
acts and omission of Lessors. However, Lessor are not entitled to terminate this
lease except on the ground of non-payment of rent for 2 months. However, in such
event Lessor are entitled for termination only after a written notice of 45 days is
given to the Lessee (to the Kind Attn: of Hub Manager, Visage Holdings & Finance
Pvt. Ltd.) calling upon the Lessee to pay the 2 months’ rent dues.

35.The Lessee shall be entitled to retain possession of the Schedule Property even
after termination of this Agreement for whatever reason till such time as refund of
the Security Deposit by the Lessors with up to date interest @ 30% p.a. is not
made by them and till such time Lessee is not liable to pay any rent or any other
charges to Lessors.

36.Lessee shall not use the Schedule Property for any illegal or immoral Trade and
shall use the Schedule Property only for conducting the business of the Lessee as
stated hereinabove.

37.Any notice or other communication of like nature that may be given by one party
to the other shall always be in writing and shall be served by hand delivery duly
acknowledged or sent by Registered Post with Acknowledgement Due and by no
other mode at the respective addresses setout herein above or at such other
address as may be subsequently intimated by one party to the other in writing, as
setout herein. Any such communication shall be deemed to have been served
when sent by Registered Post when the same is actually received by the addressee.

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 There shall be deemed acceptance of the communication, in case of refusal /
evasion of service of the communication or addressee has left that place.

38. The Parties shall observe and perform the above terms and conditions on their
respective parts without interruption during the term of Lease.

39.No amendment or modification of any of the terms and conditions set forth herein
shall be valid unless incorporated as an amendment to this Agreement and signed
by both the Parties.

40.The Parties agree that in case of any dispute arising in respect of this Agreement,
the Parties shall first endeavour to resolve it amicably. If an amicable resolution to
the dispute is not possible, then the dispute shall be referred to arbitration by a
sole arbitrator appointed by the Lessee in accordance with the provisions of the
Indian Arbitration and Conciliation Act, 1996, as may be amended from time to
time. The decision of the sole Arbitrator so appointed shall be binding upon the
Parties. The arbitration proceedings shall be held at Bangalore and conducted in
the English language. Subject to the foregoing, courts in Bangalore shall have
exclusive jurisdiction with regards to all matters arising out of this Agreement.
The governing law of this Agreement shall be laws of the Republic of India.

41.This Agreement is executed in two counterparts, both of which are considered as

the original. The Lessors shall retain 1(one) set and the Lessee shall retain the
other set.

42.The Parties acknowledge that this Agreement contains the whole Agreement
between the Parties and it has not relied upon any oral or written representations
made at any point prior to or subsequent to this Agreement.

S C H E D U L E “A”
All that piece and parcel Office Premises in constructed on the land bearing property
situated at No. 104. DNO 49-24-18,GROUND FLOOR, VAMSI COMPLEX,
RAMAKRISHNA NAGAR , SANKAR MATAM ROAD ,VISAKHAPATNAM -530016.

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together with Vehicle parking in the basement of the aforesaid building, along with
right to use common area, entrance , lift facility etc.

Bounded on,
East :
West :
North :
South :

IN WITNESS WHEREOF the Parties have affixed their respective signatures of this
Lease Agreement on the day month and year first above written at Office of Registrar,.

WITNESSES:
LESSOR
1.

2 LESSEE

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