MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding (MOU) is made on this 5th day of July, 2024.

Between

GAUTAM BUDH MANAGEMENT INSTITUTE PVT. LTD., a private limited

company incorporated under the laws of the Companies Act, 2013 having its
registered office at C-32. Sector-80, Phase-2, Noida, Uttar Pradesh-201301, through
its Authorized Signatory Mr. Nitin Sharma, hereinafter referred to as ‘GAUTAM
BUDH MANAGEMENT INSTITUTE PVT. LTD.’, which expression shall, unless
repugnant to the context or meaning thereof, be deemed to include its successors and
permitted assigns.
And
K.K. FRAGANCES LLP, a Limited Liability Partnership incorporated under the
laws of The Limited Liability Partnership Act, 2008, having its office at C-1, Sector-
45, Noida, Uttar Pradesh-201303, through its Authorized Signatory Mr. Sohan Lal
Singh, hereinafter referred to as ‘K.K. FRAGANCES LLP’, which expression shall,
unless repugnant to the context or meaning thereof, be deemed to include its
successors and permitted assigns.

Whereas
1. GAUTAM BUDH MANAGEMENT INSTITUTE PVT. LTD. is the owner of the
Organic Food Waste Compost Machinery and Equipment (hereinafter referred to as
the ‘Machine’)
2. K.K. FRAGANCES LLP is interested in renting the Machine for its business
operations.

Now, therefore, both parties agree as follows:

1. Machine Description
GAUTAM BUDH MANAGEMENT INSTITUTE PVT. LTD. agrees to rent and K.K.
FRAGANCES LLP agrees to take on rent the Machine described as follows:
 Organic Food Waste Compost Machine (Model No. FS002)
2. Rental Amount
K.K. FRAGANCES LLP agrees to pay GAUTAM BUDH MANAGEMENT
INSTITUTE PVT. LTD. a rent of Rs. 30,000/- (Rupees Thirty Thousand Only) for
the use of the Machine.

3. Duration of the Agreement

The rental period shall commence on 5th July and shall continue for a period of 2
months, unless terminated earlier in accordance with the terms of this MOU.

5. Maintenance and Repairs

K.K. FRAGANCES LLP shall be responsible for the routine maintenance and minor
repairs of the Machine. Any major repairs shall be the responsibility of GAUTAM
BUDH MANAGEMENT INSTITUTE PVT. LTD., provided that such repairs are not
necessitated by the negligence or misuse of the Machine by K.K. FRAGANCES LLP.

6. Termination
Either party may terminate this MOU by giving 30 days written notice to the other
party. Upon termination, K.K. FRAGANCES LLP shall return the Machine to
GAUTAM BUDH MANAGEMENT INSTITUTE PVT. LTD. in good working
condition, subject to normal wear and tear.

7. Indemnity
K.K. FRAGANCES LLP agrees to indemnify and hold harmless GAUTAM BUDH
MANAGEMENT INSTITUTE PVT. LTD. from any and all claims, damages, losses,
and expenses arising out of or in connection with the use of the Machine by K.K.
FRAGANCES LLP.

8. Governing Law
This MOU shall be governed by and construed in accordance with the laws of Uttar
Pradesh.
9. Dispute Resolution
Any disputes arising out of or in connection with this MOU shall be resolved
amicably through mutual discussions. If the disputes cannot be resolved amicably,
they shall be referred to arbitration in accordance with the rules of Prompt Dispute
Resolution Council, and the decision of the arbitrator shall be final and binding on
both parties.

10. Entire Agreement

This MOU constitutes the entire agreement between the parties with respect to the
subject matter hereof and supersedes all prior agreements, understandings, and
negotiations, whether written or oral, between the parties.

In witness whereof, the parties hereto have caused this MOU to be executed by their
respective authorized representatives as of the day and year first above written.

For GAUTAM BUDH MANAGEMENT INSTITUTE PVT. LTD.

Authorized Signatory
Mr. Nitin Sharma

For K.K. FRAGANCES LLP:

Authorized Signatory
Mr. Sohan Lal Singh
 In presence of: In presence of:

Name: Name:
Place:pda Place: Place:
Date: Date: