SALE DEED

THIS SALE DEED is made and entered into at Mumbai this _____ day of SEPTEMBER,
2017 BETWEEN:

M/S. PUNJAB NATIONAL BANK, a nationalized Bank registered under the Banking
Regulation Act, 1949 and having its address at 82/5 Jay Apartment, Linking Road,
Santacruz West, Mumbai - 400054, hereinafter referred to as “THE
SELLER/TRANSFEROR” (which expression shall unless otherwise it be repugnant to the
context or meaning thereof be deemed to mean and include its representatives,
administrators, executors and assigns) of the ONE PART.

AND

M/S. SANITA REALITIES (P) LTD., a Private Limited Company registered under the Indian
Companies Act, 1956 and having address at 702-B, Manmandir Apartment, Indra
Narayan Road, Santacruz West, Mumbai – 400054, hereinafter referred to as the “THE
PURCHASER/TRANSFEREE” (which expression shall unless otherwise it be repugnant to
the context or meaning thereof be deemed to mean and include its representatives,
administrators, executors and assigns) of the OTHER PART.

WHEREAS THE SELLER/TRANSFEROR DOES HEREBY EXPRESSLY REPRESENT AND

DECLARE TO THE PURCHASER/TRANSFEREE AS FOLLOWS:

a) That, Unit No. 608 admeasuring about 440 sq. fts. Built up plus 145 Sq. fts.
attached Terrace, on the 6th Floor in Solaris 1 Premises Co-operative Society Ltd.,
at Universal Industrial Estate, Saki Vihar Road, Powai, Tungava Village, Andheri
(East), Mumbai - 400059 (hereinafter referred to as ‘the said Unit’) was
originally purchased, vide Agreement for Sale dated 02 nd day of December, 1993,
by M/s. D. B. Mody H. U. F., the Purchaser therein from M/s. Universal Premises
and Textiles Private Limited, the Developer therein. The said Agreement for Sale
was subsequently registered, under Amnesty Scheme, vide Declaration dated
21/08/2004 Registered on 30/08/2004 with the Jt. Sub. Registrar, Kurla 1 (Kurla)
under document No. 7722/2004.

b) That, vide Agreement for Sale dated 23/03/2005, registered on 30/03/2005 with
the Jt. Sub. Registrar, Kurla 3 (Kurla) under document No. 2471/2005 M/s. D. B.

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 Mody H. U. F., the Sellers therein sold the said unit to M/s. S. K. Office Solutions
Pvt. Ltd., the Purchasers therein.

c) That vide Agreement for Sale dated 15/03/2010, registered on 15/03/2010 with
the Jt. Sub. Registrar, Kurla 1 (Kurla) under document No. 2989/2010 M/s. S. K.
Office Solutions Pvt. Ltd., the Vendor therein sold the said unit to M/s. Vishal
Information Technologies Limited, the Purchasers therein.

d) That, M/s. Vishal Information Technologies Limited, the Purchasers therein,

changed and converted their identity as and into M/s. Coral Hub Ltd.

e) That M/s. Coral Hub Ltd. formerly known as M/s. Vishal Information
Technologies Limited borrowed loan from M/S. PUNJAB NATIONAL BANK, the
Seller herein, by mortgaging and creating charge on the said Unit along with unit
numbers 606, 607 & 605. M/s. Coral Hub Ltd. formerly known as M/s. Vishal
Information Technologies Limited hereinafter are referred to as “the said
borrower”.

f) That the said borrower failed to repay the dues of the SELLER/TRANSFEROR
herein hence the proceeding under the SARFAESI (the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest Act,
2002) against the said borrower was initiated and completed for the recovery of
the dues of the SELLER/TRANSFEROR herein resulting into auction sale of the
said unit along with unit numbers 606, 607 & 605.

g) That the SELLER/TRANSFEROR, being Secured Creditor of the said borrower for
the said unit along with unit numbers 606, 607 & 605, was authorized by the
order of the DRT (Debt Recovery Tribunal) vide their order to auction and sale
the said unit along with unit numbers 606, 607 & 605 for recovery of the dues of
the said borrower payable to the SELLER/TRANSFEROR herein.

h) That accordingly due process of auction sale was completed for the auction sale
of the said unit along with unit numbers 606, 607 & 605.

i) That the highest bidder in the process of auction sale of the said unit along with
unit numbers 606, 607 & 605 is the Purchaser/Transferee herein. The sale of the
said unit along with unit numbers 606, 607 & 605 to the Purchaser/Transferee
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 herein was confirmed by the SELLER/TRANSFEROR herein vide their Sale
Certificate/Sale Deed on receiving full sale value of Rs. 3,00,00,000-00 (Rupees
Three Crore Only) from the Purchaser/Transferee here, under intimation to the
Solaris-1 Premises Society Ltd. dated 23-01-2013.

j) That, now the SELLER/TRANSFEROR herein is having the exclusive power to

execute this Sale Deed of the said Unit in favour of the Purchaser/Transferee.

k) That, being a registered member of the said society, the borrower was holding a
Share Certificate for Five fully paid shares of the face value of Rs. 50/- (Rupees
Fifty only) each, bearing Share Certificate No. ___ for Five Shares bearing
distinctive Nos. ____ to ____ (both inclusive). ( hereinafter referred to as “the
said shares”)

l) That the SELLER/TRANSFEROR herein is legally entitled to the said Unit and the
said shares together with the benefits attached to them and that neither the
SELLER/TRANSFEROR herein or through any of their agent/s or constituted
attorney have or had at any time heretofore either created or agreed to create
any third party rights or right, title, interests or claim whatsoever in respect of
the said Unit and the said Shares.

m) That the SELLER/TRANSFEROR has put the Purchaser/Transferee in the exclusive

and absolute possession of the said Unit with the full lock and key control with
the actual custody and dominion over the possession of the said Unit with the
said shares and benefits.

n) That the right of the SELLER/TRANSFEROR in respect of the said Unit with the
said shares and benefits is absolutely clear and marketable.

o) That the said borrower has not challenged further and/or obtained any
injunction/stay to either the said order of the DRT or the said proceeding of the
auction sale or handing over possession of the said unit to the
Purchaser/Transferee or executing this Sale Deed.

p) That in the manner aforesaid, the SELLER/TRANSFEROR has truly, honestly,

bonafidely and in good faith disclosed to THE PURCHASER/TRANSFEREE, all the
material facts and circumstances in respect of the said Unit with said shares and
said benefits without making any untrue, incorrect, dishonest and/or fraudulent

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 and non-bonafide representations, of anything whatsoever in that behalf and in
any manner whatsoever.

AND WHEREAS THE PURCHASER/TRANSFEREE has already paid to the

SELLER/TRANSFEROR the full and final consideration and obtained vacant and peaceful
possession of the said Unit with said shares and said benefits with legal rights and all
relevant deeds, documents, papers and writings from the SELLER/TRANSFEROR.

AND WHEREAS now the parties are desirous of executing this Sale Deed in respect of the
said Unit with the said shares and said benefits and they have mutually agreed upon
certain terms, conditions, stipulations and covenants in that behalf as hereinafter
appearing:

NOW THIS DEED WITNESSTH AS FOLLOWS;

1) The SELLER/TRANSFEROR hereby declares and confirms that what is recited

hereinabove in respect of the said Unit and the said shares shall be treated as
representations and irrevocable declarations on their part as if the same are
reproduced herein in verbatim and form part of this clause. The
SELLER/TRANSFEROR hereby confirms that THE PURCHASER/TRANSFEREE have
purchased the said Unit relying upon the correctness of the declarations and
representations made by the SELLER/TRANSFEROR in his presents.

2) The SELLER/TRANSFEROR has sold, transferred, assigned and assured and THE
PURCHASER/TRANSFEREE have purchased and acquired the said Unit on
ownership basis along with the said Shares, free from all encumbrances at the
full and final consideration paid by THE PURCHASER/TRANSFEREE to the
SELLER/TRANSFEROR.

3) In performing their part of the contract both the parties shall be entitled to
specific performance of this Sale Deed together with right to claim costs, charges
and expenses and losses from the other.

4) As the SELLER/TRANSFEROR has received full and final payment from THE
PURCHASER/TRANSFEREE as mentioned herein, all the Title Deeds and
Possession of the said Unit and the said Shares have already been handed over
by the SELLER/TRANSFEROR to THE PURCHASER/TRANSFEREE.

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5) THE PURCHASER/TRANSFEREE have paid and fulfilled their part of this Deed as
stated herein above and now the SELLER/TRANSFEROR shall abide by the terms
herein and shall be bound to complete the contract on their part.

6) The SELLER/TRANSFEROR has intimated to the said society to transfer all the
rights, title, claim, interest and benefits whatsoever including the shares,
deposits if any in connection with the said Unit in favour of THE
PURCHASER/TRANSFEREE and shall co-operate for further assuring in law and for
better and more perfectly transferring all the rights, interests and benefits in
respect of the said Unit unto THE PURCHASER/TRANSFEREE for the exclusive use
of THE PURCHASER/TRANSFEREE thereof as aforesaid.

7) That after execution of this Deed neither the SELLER/TRANSFEROR nor their
executors and administrators shall and will have any right, title, interest or claim
to the said Unit and the said Shares.

8) The SELLER/TRANSFEROR hereby covenants with THE PURCHASER/TRANSFEREE

that they have paid to the said society all the shares of taxes and outgoings etc.
up to handing over the possession of the said Unit to the Purchaser/ Transferee.

9) THE PURCHASER/TRANSFEREE shall become the member of the said society and
shall abide by all and singular bye-laws, rules and regulations made and adopted
from time to time by the said society and shall regularly pay the monthly
maintenance charges in respect of the said Unit to the said society without any
default.

10) It is specifically agreed by and between the parties that all the transfer charges
and other expenses of the said society in connection with the transfer of the said
Unit and the said Shares shall be borne by both the Purchaser/Transferee alone.

11) THE PURCHASER/TRANSFEREE shall lodge this Deed before the concerned
Registrar of Assurances and the SELLER/TRANSFEROR shall appoint and authorize
their Authorised Representative to admit his signature on this Deed before the
said authority within the prescribed time limit as per law.

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 12) Neither any Government nor any public authority has issued any order under
Income Tax Act, Wealth Tax Act, Maharashtra Land Revenue Code or under any
statute restraining the SELLER/TRANSFEROR from selling or disposing off the said
Unit or any part thereof in any manner whatsoever.

13) It is also agreed by and between the parties that the Stamp Duty and the
Registration Charges in respect of the present Deed shall be borne and paid by
THE PURCHASER/TRANSFEREE alone.

IN WITNESS WHEREOF the parties hereto hereunto have set and subscribed their
respective hands on the day, date and year first hereinabove written.

THE SCHEDULE HEREINABOVE REFERRED TO:

All that self contained Unit on ownership basis viz. Unit No. 608 admeasuring about
440 sq. fts. Built up plus 145 Sq. fts. attached Terrace, on the 6 th Floor in Solaris 1
Premises Co-operative Society Ltd., Universal Industrial Estate, Saki Vihar Road,
Powai, Tungwa Village, Andheri (East), Mumbai - 400059 , situated on Plot of land
bearing Survey No. 46, 47, Hissa No. 1(Pt.) & 48 (Pt.) and bearing C.T.S. No. 98 of
Village Tungwa, Taluka Kurla, in the Registration District and Sub-District of Mumbai
Suburban within the Greater Mumbai.

SIGNED AND DELIVERED BY }

MR. _________________________ }
Designation }
as Authorised Representative }
for and on behalf of the within named the }
SELLER/TRANSFEROR }
THE PUNJAB NATIONAL BANK }

in the presence of ……..

1)

2)

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SIGNED AND DELIVERED BY }
MR. _________________________ }
Designation }
as Authorised Representative }
for and on behalf of the within named the }
PURCHASER/TRANSFEREE }
M/S. SANITA REALITIES PVT. LTD. }
in the presence of ……….

1)

2)

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 RECEIPT

RECEIVED of and from THE PURCHASER/TRANSFEREE the sum of RS. 3,00,00,000/-

(RUPEES THREE CRORE ONLY) being the full and final Consideration collectively in
respect of Sale of Four Units viz. (1) Unit No. 608 admeasuring about 440 sq. fts. Built
up plus 145 Sq. fts. attached Terrace, (2) Unit No. 606 admeasuring about 572 sq. fts.
Built up, (3) Unit No. 607 admeasuring about 772 sq. fts. Built up and (4) Unit No. 605
admeasuring about 956 sq. fts. Built up, on the 6 th Floor in Solaris 1 Premises Co-
operative Society Ltd. , Universal Industrial Estate, Saki Vihar Road, Powai, Tungwa
Village, Andheri (East), Mumbai - 400059 , which have been sold to them in auction sale
and as per the terms of this Deed.

We say received Rs. 3,00,00,000/- (Rupees Three Crore only).

MR. _________________________,
Designation:
Authorised Representative for and on behalf of the within named the
SELLER/TRANSFEROR THE PUNJAB NATIONAL BANK.
WITNESSES:-

1.

2.

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