Memorandum of Understanding between KBPL and Packpress

THIS MEMORANDUM OF UNDERSTANDING (MOU) is made at Dombivili on

this 27th day of July 2021

Between

M/s. KORE Branding Private Limited, a Company incorporated under the

Companies Act, 1956 having its Registered Office at shop no.4, Nav Vhitthal
 C.H.S, Chitranjandas Road, Ramnagar, Dombivili East - 421201 (Hereinafter

referred to as "KBPL" which term or expression shall unless excluded by or

repugnant to the subject or context hereof shall mean and include its heirs,

successors and assigns of the ONE PART)

And

Mr. Tushar Nivrutti Kunjir s/o Nivrutti Appa Kunjir R/o. Flat No. 003, C-Wing,

Sneh Residency, Shankeshwar Road, Kanchangoan, Khambal Pada, Dombivili

East, Kalyan, Thane, Maharashtra – 421201 aged about 30 years, proprietor of

M/s. Packpress Solution (Hereinafter referred to as "the Packpress", which term

or expression shall unless excluded by or repugnant to the subject or context

hereof shall mean and include his/her heirs, successors and assigns of the

SECOND PART).

WHEREAS

a. The business of KBPL is packaging having PAN India services and are

manufacturer of cake box, pizza box, pharmaceutical etc..

b. The initial business of the Packpress is punching boxes, solution of Packaging

& Printing and is having 19/25 punching machine.

c. KBPL and Packpress have decided to purchase the 22/32 punching machine,

where KBPL are providing finance amounting Rs. 350,000/- to Packpress for

purchasing the said machine, this Memorandum of Understanding is made and

executed by and between the parties hereto as under:

NOW THIS MEMORENDUM OF UNDERSTANDING WITNESSETH AS FOLLOWS:-

a. The Packpress has agreed to pay to the KBPL the sums amounting

Rs.350,000/- @12% p.a against the KBPL Financed for purchasing 22/32

Punching Machine.

b. The principal amount of Rs.350,000/- (Rupees Three Lakhs Fifty thousand

Only) is due for payment as on 27/07/2021. Further an amount of Rs.418,500/-

(Rupees Four Lakhs Eighteen Thousand Five Hundred only) is payable by the

Packpress towards 12% interest p.a to the KBPL.

c. Packpress has provided three (03) Security cheque to KBPL as under:

i. DNS Bank, cheque no: 000178

ii. DNS Bank, cheque no: 000179

iii. DNS Bank, cheque no: 000180

d. Where Packpress has given the rate to KBPL for punching :

i. On 19/25 punching Machine shall be Rs.175/- per Thousand pieces

ii. On 22/32 Punching Machine shall be Rs. 225/- per Thousand pieces

Further Packpress will priorities the KBPL’s job on the said machine. If

in case Packpress are unable to comply the job due to any

circumstances, than KBPL can get it’s job done form other parties having

similar machine, where the extra amount on getting job done shall be

born by Packpress.

e. The Packpress shall pay a sum of Rs.11,625/- (Rupees Eleven Thousand Six

Hundred and Twenty Five Only) as EMI from time to time via PDC cheque on

27th day of every month for 36 months i.e. till 27/07/2023. The details of PDC

cheque are annexed as “Annexure A”.

 f. If cheque bounces than Packpress will pay the amount in the bank for cheque

bouncing and other charges in bank levy in bank along with PDC cheque

amount.

g. In case Packpress are unable to pay the PDC cheque amount and Principle

amount than the purchased machine will be handed over to KBPL without any

obligation and Liabilities.

h. This MOU has been executed at Dombivili, Thane, the immovable property is

implanted at Thane and the payment is made at Dombivili, Thane, hence it is

subject to the jurisdiction of the courts of law at Dombivili, Thane.

IN WITNESS WHEREOF the Parties have put their respective hands on the day,

month, year and place first above written.

SIGNED, SEALED AND DELIVERED )

By the withinnamed KORE Branding Private Limited)

In the presence of Mr. Deepak Asnikar)

SIGNED, SEALED AND DELIVERED )

By the withinnamed Mr. Tushar Nivrutti Kunjir propeietor of Presspackers)

In the presence of Mr. Vilas Patil)

ANNEXURE A

The details of PDC cheques are as follows:

Date Cheque no. Amount in Rs. Bank Name

27/07/2021 11,625

27/08/2021 11,625

27/09/2021 11,625

27/10/2021 11,625

27/11/2021 11,625

27/12/2021 11,625

27/01/2022 11,625

27/02/2022 11,625

27/03/2022 11,625

27/04/2022 11,625

27/05/2022 11,625

27/06/2022 11,625

27/07/2022 11,625

27/08/2022 11,625

27/09/2022 11,625

27/10/2022 11,625
27/11/2022 11,625

27/12/2022 11,625

27/01/2023 11,625

27/02/2023 11,625

27/03/2023 11,625

27/04/2023 11,625

27/05/2023 11,625

27/06/2023 11,625

27/07/2023 11,625