Memorandum of Understanding

THIS MEMORANDUM OF UNDERSTANDING is made and entered into at Bhiwandi, on this day
of 26th March 2019 BETWEEN Dr. PREMSHANKAR BHATT, Age 43 Yrs, Occ. Business, Indian,
Residing at A-1, 202, Charms Residency, Opp. Swastik Park, Brahmand, Thane (West) 400601.
Hereinafter referred as “Vendor” and 1) DR. CHANDRAKAN BARURE, Age 43 Yrs, Occ.
Business, Indian, Residing, 2) DR. SHIVSHANKAR MAHARUDRAPPA AKUSKAR, (PAN No.
AJEPA0846R) Age 43 Yrs, Occ. Business, Indian, Residing at Runwal Nagar, B-5/12, Plot-B,
Near Vikas Complex, Khopat, Thane (West), Thane 400601, hereinafter referred as
“Purchasers”. For the sale of the commercial premises at Office No. 1, on the First Floor of
the building in a complex more popularly known as “SIDDHIVINAYAK COMPLEX PHASE-I”
admeasuring about 1050-0 Sq. Feet built-up, hereinafter referred as “Premises”.

Notwithstanding for the successful execution and accomplishment of “Sale Agreement”

between the parties for the aforesaid premises this Memorandum of Understanding is
executed and signed between the aforesaid parties.

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 Now this Memorandum of Understanding witnessed as under:

1. Notwithstanding the non-binding nature of this Memorandum, Both the Parties

will act in good faith and will use their best endeavors to achieve the purpose of
this Memorandum. The parties are doing this transaction with clean mind and
good intent without any malafide intentions.

2. To achieve the success and peaceful execution of the “Agreement of Sale” and
this MOU Purchasers have to withdraw the Case No. RCS 825/15, RCC 1356/17,
Special Summary Suit No. 38/15 and Arbitration Case No. 109/2016 from
the respective courts filed against the Vendor by them.

3. All their past legal matters, Litigations, Police complaints, Arbitrations on each
other will stand null and void after signing this MOU and starting the execution of
Sale Agreement. And that will not create any issue for this Sale Agreement.

4. Both the parties will make sure that there will be not any outstanding dues left
on the aforesaid premises and post registration the Vendor will not held
responsible for any past dues, claims, obligations associated with this premises.

5. Any commercial activity should only be start post payment of full and final
amount of purchase to the vendor. By the time he holds the right on allowing to
do so.

6. Until the final payment made within 2 months of time as agreed between the
parties and legal possession handed over to the Purchasers till then none of the
parties will not breach this MOU and create any nuisance by trespassing in the
aforesaid premises post registration and pre legal possession by the purchasers.

7. This MOU is equally binding on both the parties until the full and final payment
of the purchase amount ie: within 2 months of time from now on words and final
possession of the premises to the purchasers. If the Purchase amount is not paid
within the prescribed duration the “Agreement of Sale” will stands null and void.

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This MOU and all issues arising out of the same shall be construed in accordance with

the law of India. IN WITNESS WHEREOF the parties hereto have set and subscribed their

hands on the day, month and the year first hereinabove mentioned.

SIGNED AND DELIVERED BY THE }

WITHINNAMED “THE VENDOR” }

DR. PREMSHANKAR BHATT, IN THE }

SIGNED AND DELIVERED BY THE }

WITHINNAMED “THE PURCHASERS” }

1) DR. CHANDRAKAN BARURE, }

2) DR. SHIVSHANKAR MAHARUDRAPPA AKUSKAR }

IN THE PRESENCE OF WITNESSES }

1.

2.

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