MEMORANDUM OF UNDERSTANDING

THIS MOU is made and entered into on this 10th Day of August, Two Thousand and Twenty
Three (10/08/2023)

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 BETWEEN:

1. Mrs. Anjali Rajan

Aged about 36 years.
W/o Mr. Sreeraj Sasi

2. Mr. Sreeraj Sasi

Aged about 41 years.
S/o Mr. M.V Sasi
Both residing at Mangalathu House, Varanam P.O
Cherthala, Varanam, Alappuzha, Kerala - 688555

Hereinafter called as the First Party / Seller (which expression wherever it so requires
shall mean and include their heirs, legal representatives, administrators, executors and
assigns etc.) of the One Part:
AND

1. Mr. Debal Sengupta

Aged about 71 years.
S/o Nalini Ranjan Sengupta
Residing at Pandit Kali Prasanna Sarani, Near Hariganga High School
Banamalipur, Agartala (West), Agartala, West Tripura, Tripura - 799001.

2. Mrs. Sraddhanjali Sengupta

Aged about 36 years.
W/o Mr. Atanu Podder Residing at #228, Radiant Shine Apartments Block A,
Near SNN Raj Serenity, Yelenahalli Village, Begur Road, Bangalore - 560068

Hereinafter collectively called as the Second Party/ Purchaser (which expression

wherever it so requires shall mean and include all their heirs, legal representatives,
administrators, executors and assigns etc.) of the Other Part.

WHEREAS, the First Party / Seller owns an apartment bearing No.11043 on the Level 4,
3rd Floor in Building No.5, in Tower -11 of the residential apartment complex known
as “Prestige Song of the South” , total Super Built-up Area of 1922 sqft having Three
Bedrooms, with One Covered Basement Car Parking Space , constructed on all that piece
and parcel of the converted land bearing Survey Nos 14,16,18,19 & 20 of
Chandrashekarapura village & Sy No. 52/1 of Yelenahalli village, Begur Hobli, BSTQ,
(relinquished to the BDA) & presently bearing Municipal No. 67/Sy Nos.52/1, 14, 16, 18, 19
& 20, Yelenahalli, Chandrashekarapura, Begur Sub-Division, Bommanahalli Region, Municipal
Ward no.192, Bangalore (in the records of BBMP), Measuring 1349 sqft of carpet area & 573
Sqft of proportionate share in common area.

Further, the SELLER has confirmed to the PURCHASERS that they are the absolute owners
of the said Schedule Property and that at the time of entering into this MOU, the same is
free from all types of encumbrances, restraint orders, attachment and have also assured
that no litigation whatsoever is pending in respect of the Schedule Property. Further the

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SELLER confirms that they have not yet entered into any agreement to sell etc. relating to
the said schedule property with any other person.

AND WHEREAS, the First party / Seller has decided to sell the schedule property to the
Second Party / Purchasers and the Second Party / Purchasers have agreed to buy the said
schedule property at a total sale consideration of Rs.1,75,00,000/- (Rupees One Crore
Seventy Five Lakhs Only), (Total Sale Consideration) inclusive of One covered basement
car parking, and + other charges like BESCOM Deposits, Generator Charges, Khata and
Assessment Charges, Advance Maintenance charges, Sinking Fund, TDS, GST etc. However,
Registration charges, Stamp duty and Legal charges will be paid by the Second Party /
Purchasers.

NOW THIS MOU WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE
PARTIES HERE TO AS FOLLOWS:

That the Second Party / Purchasers have agreed to pay the total sale consideration of
Rs.1,75,00,000/- (Rupees One Crore Seventy-Five Lakhs Only) in respect of the
schedule property in the following manner:

1) The Second party/Purchaser has paid an amount towards the advance of Rs

5,00,000/- (Rupees Five Lakhs Only) out of which Rs.3,80,400/- (Rupees
Three Lakhs Eighty Thousand and Four Hundred Only) has been paid on date
06.08.2023 and TDS of Rs.1,19,600/- (Rupees One Lakhs Nineteen
Thousand Six Hundred Only) vide Challan Number ______/ BSR Code_______/
dated __/__/____.
2) The First Party will apply for Lower Tax Certificate u/s 197 of the Income Tax Act in
Form 13 with the International Tax Department, Bangalore on the Balance
Consideration of Rs 1,70,00,000 and the Second Party shall Deduct TDS as per the
TDS Rates mentioned in the Certificate. The Second Party shall pay the remaining
amount to the Seller after paying the necessary TDS.
3) The First Party /Sellers and the second party /purchasers shall execute the Sale
Agreement. The 1st Party/Sellers shall provide a photocopy of the original sale deed
for legal verification.

4) The second party/purchaser hereby agree to pay the remaining balance sale
consideration amount of Rs.1,70,00,000/- (Rupees One Crore Seventy Lakhs
Only) to the First Party/Seller in two tranches as under:
a. The second party/purchaser shall clear the outstanding bank loan amount
held by 1st party/seller and the house building loan shall be closed by the 1st
party/sellers and NO DUES certificate/letter from the bank shall be provided
by the 1st party/seller to the purchaser/2nd party.
b. The second party /purchasers shall pay to the First Party /Sellers remaining
outstanding balance on registration of sale deed.
5) The First Party/Seller shall fully cooperate and provide the Second Party/Purchasers
the documents (example NOCs/Sale agreement/Construction agreement etc.) as
required by Second Party/Purchasers.

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 6) The Second Party / Purchasers shall make the payments relating to registration
charges, TDS, stamp duty and any legal charges directly to the concerned
authorities.

7) The First Party / Seller will indemnify the Second Party / Purchasers in case any
defect is found in their right, title and interest in the scheduled property, as disclosed
above based upon documents. They will co-ordinate and co-operate with the Second
Party / Purchasers for all practical purposes.

8) If the Second Party / Purchasers are unable to arrange the balance sale
consideration amount as per the schedule mentioned in this MOU or if they back out
on the deal, for any reason, whatsoever, then this MOU can be enforced for specific
performance of contract by the First Party/Seller at their option OR they can call off
the deal and terminate this MOU and in such case the First Party / Sellers will retain
the advance amount of Rs.3,80,400/- (Rupees Three Lakhs Eighty Thousand
and Four Hundred Only) as liquidated damages and refund back all other
subsequent payments if any, made by the second party/purchasers to the first
party/sellers.

9) Similarly, if the First Party/Seller fail to comply with the formalities for the title and
interest in the schedule property in favour of the second party/purchasers, despite
the second party/purchasers complying with all formalities under this MOU and time
schedule for payment, or if they back out on the deal for any reason, whatsoever,
then this MOU can be enforced for specific performance of contract by the Second
Party/Purchaser at their option OR they can call off the deal and in such case, the
First Party / Seller shall pay back all subsequent payments if any, made by the
second party/purchasers to the first party/sellers.

10) The First Party/Seller confirm that they have not entered into any agreements,
arrangements or understanding with anyone for sale of the schedule property and
agree that they will not enter into any Agreements, arrangements or understanding
for sale or transfer of the schedule property with any one in any manner, until this
MOU is in force.

11) This Agreement shall be governed by the laws of India and the courts at Bangalore
shall have exclusive jurisdiction in respect of matters under this Agreement.

12) Time Period: Both parties have agreed that the transaction between Seller and Buyer
shall be completed after producing and verification of all the required documents by
both parties, failing of which any of the parties, if so desire, can seek enforcement of
this MOU against the defaulting party through competent court of law having
jurisdiction over the schedule property else parties may mutually call off the deal.

(Description of the Unit)

A Three Bedroom Apartment bearing No.11043 on the Level 4, 3rd Floor in Building No.5,
in Tower -11 of the “Prestige Song of the South”, having a Carpet Area of 1349 sqft and
the total Super Built-up Area of 1922 sqft along with One Car Parking Space in the basement
with proportionate share in the Common Area of ‘Prestige Song of the South”, with the

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non-exclusive right to use the Common Amenities and Facilities of “Prestige Song of the
South” in the project.

IN WITNESS WHEREOF the above-mentioned parties have signed this MOU on the day,
month and year mentioned above in the presence of the following witnesses:

WITNESSES:

SELLER:
1.

2. PURCHASERS:

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