Bombay High CourtARBAP/109/2024consent term

Sah Parishram Co-Operative Housing Society Limited v. Shree Raghuvanshi Developers And ANR.

2024-07-18Hon'Ble Justice Shri Arif S. Doctor143 pages

Coram: Arif s. Doctor. J Date: • Associate

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

Associate ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.

OF 2024 SAH PARISHRAM CO-OPERATIVE ) HOUSING SOCIETY LIMITED ) A Co-operative Housing Society duly ) Registered under the provisions of the ) Maharashtra Co-operative Societies ) Act, 1960 and having its address at Sah ) Parishram CHSL, 2"*' Amrapali,90 feet Road) Muluiid (East), Mumbai - 400 081.

) ...PETITIONER V/s.

1. M/S. SHREE RAGHUVANSHI ) DEVELOPERS ) A Partnership Firm duly registered and ) Incorporated under the provisions of the ) Partnership Act, 1932 and having its ) Registered office at Hansa Heritage, ) 2"^ floor, Mathuradas Road, ) Kandivali (West), Mumbai - 400 067.

)

2. SURBHI CONSTRUCTION ) a Proprietary concern, having its Sole ) Proprietor, Mr. Mitesh Shah, ) For Sali Parishram Co-op. Housing Society Ud. Chairman

having its registered office at ) 12, Deepak Mahal, Shimpoli, X Road 1, ) Borivali (West), Mumbai - 400 092 and ) having its Registered office at 102, J/Wing, ) Nisarg Heaven CHS, Mahavir Nagar, ) Kandivali (West), Mumbai - 400 067 ),..RESPONDENTS CONSENT TERMS BETWEEN THE PETITIONER AND THE RESPONDENTS:

The above Petition is filed by the Petitioner against the 1.

Respondent No.l for various reliefs as setout therein on the ground that (i) the Development Agreement dated 13.06.2013 read with First Supplementaiy Development Agreement dated 14.12.2015 and Second Supplementary Development Agreement dated 05.07.2019 ("said Agreements") are terminated by notice dated 1 November, 2022 inter alia on the default and breaches committed by the Respondent in completing the construction of the new building on the suit property as well as handing over possession of the respective Newly constructed flat suits to each of the Petitioner members within the time frame agreed upon and also (ii) on the ground of non-payment of the arrears of the monthly rental compensation payable by the Respondent No.l to the bona fide Members of the Petitioner's Society, For Sah-Parishram Co-op. Housing Society t/c/. Chairman reasurer

Various meetings took place between the Petitioner and the 1.

Respondents and the respective Advocates to resolve the matter by an amicable settlement, and have arrived at the following agreed terms in respect of the redevelopment of the suit property.

In the meetings it is proposed by Respondent No.l that they 3.

wish to assign their rights to carry out the development of the Petitioner Society to Respondent No.2. Respondent No.2 has assured that they have the financial feasibility to complete the stalled construction of the building of the Petitioner Society within the time frame as agreed upon by the parties as well as shall make payment of all the pending arrears of Monthly Rental Compensation as mentioned in clause (6) as mentioned under this Consent terms and shall continue to make payment of all future rent payable without any increment i.e. (i) Rs.52/- (Rupees Fifty Two Only) per sq. ft. on the existing carpet area to each and every residential and (ii) Rs.94/- (Rupees Ninety Four Only) per sq. ft. on the existing carpet area to each and every commercial member from the date of execution of these presents till the Respondent No.

2 obtains Part O.C. from MCGM in case of the commercial shops and Full Occupation Certificate (Full O.C.) in case of residential units. It has been further proposed by Respondent No.l that the Respondents shall sign, execute and register a Deed of Assignment (annexed hereto as Exhibit - 'B' hereto) as confirmed by the For Sah-Parishram Co-op. Hoiking Society Ltd.

Petitioner Society and that Respondents shall strictly abide by the said Deed of Assignment at the costs, charges and expenses of the Respondent No. 2 herein.

It is thus agreed between the parties hereto that the 4.

Respondent No.l with the confirmation of the Petitioner Society shall assign all their right acquired by them pursuant to the aforesaid Development Agreement dated 13.06.2013 read with First Supplementary Development Agreement dated 14.12.2015 and Second Supplementary Development Agreement dated 05.07.2019 to M/s. Surbhi Construction ("New Developer") being Respondent No.2, who shall complete the incomplete building of Ground plus 7 upper floors, standing on the suit property as per the terms of the said Deed of Assigmnent. The draft of the Consent terms are hereby tabled and resolved by the members of the Petitioners in their Special General Meeting dated 5^^ July, 2024. The true copies of the Agenda dated 2P' June, 2024 along with the Minutes of the SGM dated 5* July, 2024 are hereby annexed and marked as "EXHIBIT-A".

The draft of such Deed of Assignment approved by the Petitioner and its members, as well as both the Respondents herein is annexed herewith as "EXHIBIT-B". The said Deed of Assignment shall be executed and registered within maximum 1 (one) month from the date of the signing of these Consent Terms, subject to stamp duty adjudication order being issued by the concerned office. The registration and the Stamp Duty charges for the For Sah-Parishram Co-op. Housing Society V.d.

said Deed of Assignment shall be entirely borne by Respondent No.2 only.

The Respondent No. 2 further agree, accept and confirm to 5.

this Hon'ble Court any further assignment of the Development Rights as assigned to the Respondent No.2 under the Deed of Assignment (annexed hereto as Exhibit -A) shall be with an prior written consent of the SGBM of the Society, till the completion of the stalled redevelopment of the building of the Petitioner and handing over the vacant and peaceful possession of the Newly constructed premises with full Occupation Certificate (full O.C.) to the bona fide members of the Petitioner. The Respondent No.2 undertakes not to further assign the Development Rights as assigned to the Respondent No.2 under the Deed of Assignment (annexed hereto as Exhibit - 'B' hereto) in any event whatsoever in nature.

There are arrears of monthly rental compensation from the 6.

month of December, 2019 to June, 2024, which is now amicably settled, amounting to Rs. 1,92,33,280/- (Rupees One Crore Ninety-Two Lakhs Thirty-Three Thousand Two Hundred and Eighty Only) payable to the members of the Petitioner Society. The amount payable to the Petitioner Society under the present agreed terms recorded in the Final Offer Letter dated 3"* July, 2024 addressed by the Respondent No. 2 to the Petitioner Society is hereto annexed and marked - ■ ..

For Sah-Parishrai^o^^opJ^sing Society ttd.

Secretary Chairman leasurer

as "EXHIBIT-C". It is expressly agreed between the parties hereto that the Respondent No.2 shall provide all the Amenities as more particularly mentioned, being Exhibit 'C', 'G' and TT in the above Petition in the Development Agreement, Supplementary Development Agreements or any correspondence exchanged between the parties and the same shall be valid, binding, subsisting, enforceable and part and parcel of the Final Offer Letter dated 3"* July, 2024 addressed by the Respondent No. 2 to the Petitioner Society. The aforesaid arrears of the monthly rental compensation shall be paid by Respondent No.2 to the Petitioner Society strictly in the manner as more particularly stated in the Final Offer Letter dated 3"^^ July, 2024 addressed by the Respondent No. 2 to the Petitioner Society.

The Respondent No.2 undertakes to complete the stalled 7.

building of the Petitioner Society on the said Property and shall handover physical possession of the duly completed premises alongwith Full Occupation Certificate (full O.C.) issued by MCGM to the Petitioner Society and its members in terms of the aforesaid Agreements and the Deed of Assignment within 18 months from the date of execution and registration of the Deed of Assignment, subject to Force Majeure conditions.

The Respondent No.2 undertakes to continue to make 8.

payment of the monthly rental compensation and the For Sah-Parishram Co-op. (fousing ^<^surer/^ Secretary Chairman

outstanding as mentioned in clause (6) in these presents and as agreed under the aforesaid Agreements and the Deed of Assignment to each of the bona fide existing members of the Petitioner Society until the completion of the Petitioner Building and handing over the physical possession of the respected premises to each of the members of the Petitioner Society alongwith the Full Occupation Certificate (full O.C.) as per the terms of the Deed of Assignment. The Respondent No.2 further undertakes to provide all benefits that the Petitioner Society and its members are entitled to receive under the aforesaid Agreements and the Deed of Assignment. The Respondent No.l has sold premises in the free sale 9.

component under various registered Agreements and yet there are certain premises for sale available in the free sale component as specifically agreed and confirmed in the Deed of Assignment (Exhibit 'B'). Balance consideration amount payable by such Purchasers of the premises and the consideration amount to be received from the sale of the balance premises shall be collected by Respondent No.2 and Respondent No.2 shall be entitled to appropriate the other considerations to itself to meet the further cost of construction and to complete the incomplete building on the suit property. The aforesaid Agreements shall stand modified to the extent 10.

of the terms provided in the aforesaid draft of Deed of Assignment being Exhibit-'B' annexed herewith. forSah.Parishra,n Co-op. Homing SocJetyUd.

flhairman cretary irer

It shall be the responsibility of the New Developer being 11.

Respondent No.2 herein to strictly comply with and adhere to the terms and conditions of these Consent Terms and the aforesaid Deed of Assignment and pay the arrears of the pending monthly rental compensation as provided in clause 7 hereinabove without committing any further default in respect thereof within time frame in these Consent Terms and complete the incomplete building on the suit property within the period as provided in clause 8 of these Consent Terms. The Respondent No. 2 undertakes to comply with and observe the terms, conditions and obligations of the aforesaid Development Agreements in In view thereof the Petitioner doth hereby withdraw the 12.

Termination Notice dated November, 2022 being Exhibit- 'GGG' annexed to the Petition.

As per the aforesaid agreed terms between the parties hereto, 13.

the present Arbitration Petition and also the Arbitration Application (L) No.915 of 2024 filed by the Petitioner for appointment of the Arbitrator stands disposed off as withdrawn.

The Petitioner Society, vide its Agenda dated 2P^ June, 2024 14.

along with its Special General Body Resolution (SGBM) dated 5* July, 2024 has unanimously resolved (a) to sign, execute and file these present Consent Terms and shall subsequently sign the Deed of Assignment between the For Sah-Parishran^w^using Society Ud.

wasurei Secretary Chairman

Petitioner Society, all its 12 Members, Respondent No. 1 and Respondent No, 2 herein and (b) to authorize Mr. Shrikant Bhalchandra Wagh (Chairman), Mr. Amol Vijay Sawant (Secretary) and Mr. Sushil Shripat Chavan (Treasurer). All the undertakings given herein by the parties shall be the 15.

undertakings given to the Hon'ble Court and therefore, valid, binding, subsisting and enforceable upon all the parties as the case may be.

It is agreed between the parties hereto that these present 16.

Consent Terms filed before this Hon'ble Court shall act as a Consent Decree passed by this Hon'ble Court.

It is expressly agreed between the parties hereto that any 17.

breaches, violations, non-performance or non-compliance of any of the terms of these Consent Terms shall amount to Contempt of Court, attracting civil and/ or criminal proceedings against the Party committing any such breaches, violations, non-performance or non-compliance of this presents.

The parties shall act on the authenticated/ certified copies of 18.

these Consent Terms and the Consent Decree/ Order passed by the Hon'ble Court.

For Sah.P3« co-op. Housing Society Ud.

isurer ecretary Chairman

These present Consent Terms have been signed and executed 19.

with free consent of all the parties, their authorized Representatives and in the presence of their respective Advocates.

All Parties and their respective Advocates have signed and 20.

executed the present Consent Terms and each Party shall retain one signed copy of this present.

No order as to costs.

21.

Refund of the Court Fees as per the rules.

22.

Mumbai dated this 16^*^ day of July, 2024 For Sah Parishram CHS Ltd.:

For Sah-Parishram Co-op. Housing Sc ;i • (y chairman Secretary Treasurer

1) Mr. Shrikant Bhalchandra Wagh, (Hon. Chairman) For Sah-Parishram Co-op. Housing Society ttd. Chairman ^cretary Treasurer

2) Mr. Amol Vijay Sawant, (Hon. Secretary)

For Sah-Parlshtam ee-s>(^. rjO.M^tog ??9pie|y l-lo. Chairman Secretary rea^urer f

3) Mr. Sushil Shripat Chavan, (Hon. Treasurer) (PETITIONER) Partner M/S. CHITNIS & CO.

Advocates for the Petitioner For Shroe Raghuvanshi Developer Partner M/s, Shree Raghuvanshi Developers (Respondent No.l) Partner J M/S. ASD Associates (Advocates for Respondent No.l) Mr. Mitesh Shah Sole Proprietor M/S. SURBHI CONSTRUCTION (Respondent No.l)

rartner M/s. Lakshyavedhi Legal (Advocates for Respondent No.2)

CONSENT VERIFICATION ARBP-109 OF 2024 I have verified Mr. Shrikant Bhalchandra Wagh, Chairman, Shri Amol Vijay Sawant, Secretary and Mr. Sushil Shripat Chavan. Treasurer of the Petitioner, Mr. Pinakin Rughani, Partner of Respondent No.l and Mr. Mitesh Shah, Sole Proprietor of Respondent No.2 with their identities and Original Board Resolutions, copies of the same are kept with the consent terms. Respective Advocates have identified the signatories.

Signatories have admitted the contents of the Consent Terms. The consent terms are duly signed by the parties out of their free will without any undue influence and coercion. The consent terms are duly executed by the signatories. Date 16* July 2024 CM) ----rsTTTa-z,'

SANJAY V. JADHAV Associate ■Ugh Court Original Side Bombay - 32.

iiiii_ Sah-Parishram Co-o^^fToSflTT^Society Ltd.

OUST (Regd. No. BOM./HSG./4281 OF 1974) !

2, 'Amrapali', 90 Feet Road, Mulund (E), Mumbai - 400 081. Date Ref. No.:

■ f'i' ■ 1 - i BY HAND DELIVERY Date; 2F June, 2024 AGENDA NOTICE ■ < Pursuant to the Bye-law No. 99 of the New Mode! Bye-laws of Co-operative Housing Societies, 2014, the Special General Body Meeting of the Society will be held on 5"' July, 2024 Friday at 8:30 p.m. to transact the following business:

1. To read and adopt the Minutes of die last Special Genera! Body Meeting dated 10* May, 2024;

2. To unconditionally withdraw/ cancel/ revoke the Termination Notice dated 1'^ November, 2022 inter alia terminating the Development Agreement dated 13'" June, 2013 read with the First Supplementary Development Agreement dated 15* December, 2015 and Second Supplementary I Development Agreement dated OS'^ July, 2019;

3. To read, explain, adopt and accept the Draft Deed of Assignment to be signed, entered into, executed and registered between the Society on the first part, the existing 12 (Twelve) bona fide Members of-our Society on ; the Second part, the Erstwhile Developer on the Third part and the New I For Sah-Parishram Co-op. Hi 'Sing Society Ud.

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• y/tssaaa "■ Developer i.e., M/s, Surbhi Construction, through its^Sole Proprietor; Mr;-/ - i Mitesh Shah on the Fourth Part and to admit the execution of the Deed of ' 1 Assignment before the competent Sub-Registrar of Assurances at Mumbai h to commence and complete the stalled Redevelopment of the building-of our Society and to fully comply with the terms, conditions, obligations and undertakings mentioned in the Deed of Assignment and to pass a resolution in that behalf;

4. To read, explain, adopt and accept the draft Consent Terms to be signed and executed on behalf of our Society in the Arbitration Application No.27 of 2024 and Arbitration Petition (L) No.916 of 2024 in the Hon^ble Bombay High Court wherein the Society is the Petitioner, the Erstwhile Developer is the Respondent No.l and the New Developer is the Respondent No.2, the New Developer is added as the Respondent No.2 by virtue of the Draft Amendment carried out in the Honlole Bombay High Court in the cause title of the Arbitration Application No. 27 of 2024 and Arbitration Petition (L) No.916 of 2024 and to pass a resolution in that behalf,

5. To accept the arrears of monthly rental compensation due and payable from the month of December, 2019 up to the month of June, 2024, more particularly mentioned in the Consent Terms towards amicable settlement arrived at between our Society, the Erstwhile Developer and the New Developer amounting to aggregate Rs, 1,92,33,280/- (Rupees One Crore Ninety-Two Lakhs Thirty-Three Thousand Two Hundred and Eighty Only) as per the Final Offer dated 3"* July, 2024 submitted by M/s. Surbhi JTorSah-Pari^rani Co-op. Housing SctietyU^'^ (■ urer Chairman Secretary O Scanned with OKBN Scanner

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Construction to our Society, over and above all the terms, conditions/ < .1 obligaHons, amenities mutually agreed upon between our Society, Shree Raghuvanshi Developer in the Development Agreement, .Supplementary "z Development Agreements and Permanent Alternative Accommodation Agreements (PAAAs),

6. To cancel the Permanent Alternative Accommodation Agreement (PAAA) dated 3"* March, 2016 of Mr. Gopichand Arjun Margaj by way of Deed of Cancellation to be signed, executed, entered into and registered between Mr. Gopichand Ag'un Margaj, on the First part, the Society on the Second Part and the Erstwhile Developer on the Third Part for the. erroneous and inadvertent mistake/ fault of the Erstwhile Developer wherein the mentioned Flat No.l002 admeasuring 743 sq. ft. (carpet area) as the flat has been erroneously allotted to Mr. Vasant Joshi as well as Mr. Gopichand Agun Margaj, but the Flat No. 1002 has to be rightly allotted only in favour of Mr. Vasant Joshi. Subsequently a new Permanent Alternative Accommodation Agreement (PAAA) for Flat No. 802 situated on 8*^ floor. admeasurlng-625 sq.-ft. (carpet area) has to be allotted to Mr.

Gopichand Agun Margaj and has to be duly signed, executed, entered into and registered by Mr. Gopichand Arjun Margaj on First Part, the Society on the Second Part, the Erstwhile Developer/ New Developer on Third Part and the entire costs, charges and expenses by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar of Assurances has to be solely borne by the Erstwhile Developer/ New Developer only for the erroneous, inadvertent and wrongful registration of 4 • .

For Sah-Parishram Co-op.

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Pennancn, AtenaBve 2016 of Mr. Gopichand Arjun Margaj, r To cancel the Permanent Alternative Accommodation Agreement (PAAA)' dated 19- March, 2016 of Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant by way of Deed of Cancellation to be signed, executed, entered into and registered between Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant, on the First part, the Society on the Second' Part and the Erstwhile Developer on the Third Part, wherein the Flat No.1301, 13* floor admeasuring 980 sq. ft. (carpel area) has been mentioned. Subsequently, a new Permanent Aiternative Accommodation Agreement (PAAA) for Flat No. 1801 situated on 18« floor, admeasuring 980 sq. ft, (carpet area) has to be allotted to Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant. The Permanent Alternative Accommodation Agreement (PAAA) for Flat No.

1801 has to be duly signed, executed, entered into and registered by Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant on First Part, the Society on the Second Part, the Erstwhile Developer/ New Developer on Third Part and the entire costs, charges and expenses by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar of Assurances has to be solely borne by the Erstwhile Developer/ New Developer only for the erroneous, inadvertent and wrongful registration of Permanent Alternative Accommodation Agreement (PAAA) dated 19* March, 2016 of Mrs. Janhavi Amol Sawant and Mr. Amo!

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8. To authorise Mr. Shrikant Bhalchandra Wagh, Chairman^ Mr. Amol Vijay I"

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Sawant, Secretary and/or Mn Sushil Shripat Chavah'Treasurer to sign and execute the Consent Terms in the Arbitration Application No. 27 of 2024 •i and Arbitration Petition (L) No.916 of 2024 in the Hon^le Bombay High admit the execution of and Court and to sign, execute, enter into, complete the registration of Deed of Assignment, Deed of Cancellation, Permanent Alternative Accommodation Agreement (PAAA), Deed of Rectification, as the case may be and other ancillary and incidental documents on behalf of our Society in the office of the Sub-Registrar of Assurances in favour of the Erstwhile Developer and the New Developer within 1 (one) month from the date of signing the Consent Terms in the Arbitration Petition (L) No.916 of 2024 in the Honijle Bombay High Court,

9. Any other subject with the permission of the Chair. For SAH PARISHRAM CO-OP. HSG. SOC. LTD.

For Sah-Parishrsm Co^p. Housine^ Society Ud.

Treasurer Amol Sawant (Hon. Secretary) NOTE:

fIf there is no quorum at the time fixed for the Meeting, the Meeting shaii stand adjourned and the same shall be held half-an hour later at the I . • ' /7^'

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« ' ' ■ same time & same place, and the Members present at such adjourned Meeting will proceed with the business of the Meeting. Proxies, Power of Attorney Holder, Letter of Authority (n case of 2.

individuals) and any other Non-Members will strictly not be allowed to attend the Meeting. In case. Members are Banks, Firms, Company, Public Trust, Societies only Authorized Representatives/ Persons, Partners, Directors, Trustees etc. holding proper authority letter shall be allowed to attend the Meeting. PLEASE NOTE THAT NON-MEMBERS WILL NOT BE ALLOWED TO r ATTEND THE MEETING.

Only bona Me Members are entitled to attend and exercise the right of vote at the Meeting subject to provisions of section n of the Maharashtra Coop Societies Act 1960. 4.

In case where shares are held jointly or with Associate member, the member's name stands first in the share certificate shall have the right to take part in the discussions and shall have right to vote. In case Joint/ Associate Member desires to attend the meeting, member's permission in writing to represent him/her in the meeting is required to be submitted to the Chairman presiding over the meeting.

5, The above SGBM meeting is very much important for all the Members and therefore it is essential that all the Members attend the same. © For Sah-Parishram Co-op. Housing Society Ud.

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The Society will provide the Google Meet link for, attending the SGBM , 6.

Via video conference, only for those Members who are unable to attend the -^?Z vl SGBM physically.

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LIST OF MEMBERS RECEIVING THE AGENDA NOTICE OF SGBM; Sr. No.

NAMES OF MEMBERS SIGNATURES FLAT NOS.

- 1 Shop 1 Sanjay Aher MaShop 3 Shrikant Wagh Mangala Vaze Ranen Chatterjee & Kadambari Chatterjee Kadambari Chatterjee Archana Phadke ■ ...... . ............

Amit Khair Vijay Haria & Jemlni Haria _ ForSah-Parishram Co-op. Housing Society Ud J TO p Cftaiffftart !j O Secretary Treasurer\\*}\ Scanned with OKEN Scanner

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*i-. SI ■:.. '1 Vaibhav Joshi i?

Sushii Chavan & Maya Chavan >r J Gopichand Margaj Janhavi Sawant &AmoI Sawant & .udi'

ForSah-Parishram Co-op ). Housing 'Tasurer Secretary Chairman 1 3 r° '^1 & k,;

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4, Kadaiiibari Chatterjee 5.

Kadambari Chatterjee 6.

Archana Phadke 7.

Amit Khair 8.

Vijay Haria 9.

Vaibhav Joslii \|c;Jt>kcA7 10.

Susliil Chavan 11.

Gopichand Margaj 12.

Janhavj Sawant For Sah-Parishram Co-op. Housing Society Ud.

Chairman cretary T / ♦ K % 1*^ < A 'A'

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) /4 Sah-Parishram Co-op. Housing Society LW.

J (Regd. No. BOM./HSG./4281 OF 1974} 2, 'AmrapalP. 90 Feet Road. Mulund (E), Mumbai - 400 081. . Date : - - Ref. No.:

■i ■'

Date: S* July, 2024 ' - MINUTES OF THE SPECIAL GENERAL BODY MEETING HELD ON FRIDAY, 5^" JULY, 2024:

LIST OF MEMBERS PRESENT IN TOPAY^S MEETING:

FLAT NO.

Shop!

NAME GF MEMBER SIGNATURE SR.

NO.

Sanjay Aher _____ Shop 3 ShrikantWagh 1..

Mangala Vaze 4.

Ranen Anil Kumar Chatterjee / Kadambari Ranen Chatterjee 5.

Kadambari Chatterjee « :

Archana Phadke 7.

Amit Khair __ Vijay Harla 9.

Vaibhav Joshi 10.

Sushif Chavan 11.

Gopichand Margaj 12.

Janhavi Sawant For Sah-Parishram Co-op. Housing Society Ud ->=£ Chairman Secretary Scanned with OKEN Scanner

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^ah-Parishram Go*op. Housing Society Ltd.

(Regd. No. BOMJHSa./4281 OF 1974) / ^/'Amrapati', 90 Feet Roads Muiund (Bh Mumbai-400081; '

' *> 'k"- ir4+» date , Ref. No.;

MINOTES OF THE SiPEClAL GENERAL BODY MEETOG HELD ON FRIDAY. 5m JULY, 2024:

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LIST OF MEMBERS PRESENT IN TODAY*S MEETING:

FLAT NO.

Shop 1 SR.

NO.

NAME OF MEMBER SIGNATURE Sanjay Aher Shop 3 2.

Shrikant Wagh 3.

Mangala Vaze Kadambari Chatterjee 4.

' 'it:

Kadambari Chatterjee 5.

Archana Phadke J 7.

Amit Khair 8.

Vijay Haria S.

Vaibhav Joshi \fcuk?kctv 10.

Sushil Chavan J 11.

Gopichand Margaj 12.

Jaiihavi Sawant The Meeting started at 8:30 p.m. The Hon. Secretary, Mr. Amol Sawant welcomed the i members. He requested Hon. Chairman, Mr. Shrikant Bhalchandra Wagh to occupy the Chair t f^Sah-Partshratn Co-op. Housing '

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■ - .. ■■ r The Meeting started at 8:30 p,m. The Hdn. Secretarit Mr, Amol Sawant welcomed - the members. He requested Hon, Chairman, Mr. Shrikant Bhalchandra Wagh to. J ' ' occupy the Chair and took Up the first agenda Of the meeting. I { I ■ , I £ ITte fbliowing business was transacted as per the following agenda, ? AGgNOA NO.l: TO READ AND ADOPT THE MINUTES OF THE LAST SPECIAL T GENERAL BODY MEETING DATED IQHi MAY, 2024:

RESOLUTION NO.l:

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''IT IS UNANIMOUSLY RESOLVED THAT Hon. Secretary read the Minutes of die I ■ fast special Genera! Body Meeting held on ICf May 2024. There were no objecbdns^ ,. nor any suggestions from the members, hence the same are approved and^f \ confirmed."

Proposed By: Mr. Gopichand Margaj Seconded By: Mr. Amit Khair J Passed Unanimously.

AGENDA NQ.2: TO UNCONDITIONALLY WITHPRAW/CANCELZREVOKE THE TERMINATION NOTICE DATED Ig^NOVEMBER, 2022 JWTER 41121 TERMINATING THE DEVELOPMENT AGREEMENT DATED X3.ia JUNE, 2013 READ WITH THE FIRST SUPPLEMENTARY DEVELOPMENT AGREEMENT Scanned with OKEN Scanner Treasurer

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'^DOEa_JS=L_BESSMIlB^^ DEVElOPMeNTAGRgeMlffiBAieMSfflJUIAlftlfc- ,• .'* /1 Mn sawant eqslafnecJ the amicable settlement arrived at between our Society tte , g, <■ 3 " Erstwhile Developer (M/s. Shree Raghuvanshi Developers) and the New Developer ' '

r irf'J Suithi Construction, through its Sole Proprietor Mr Mitesh Sh3h),fdr resumir^ r: -. ^"1 '"■SC'!

and completion of tiie stalled construction of the building of our Society Mr. Sawant c fiirtiier explained that the Erstwhile Developer along with the New Developer would jointly complete and handover the quiet, vacant and peaceful possession of the newly constructed premises to the existing bona f/de Members of our Society after obtaining the full Occupation Certificate (full O.C.) within 15 months of the execution and registration of the Deed of Assignment. In pursuance of the same our Society,- ♦ all the bona fide 12 Members of our Society, the Erstwhile Developer and the New Developer need to sign, execute and register a Deed of Assignment and sign the Consent Terms in the Hontile Bombay High Court in the Arbitration Application No. I '

27 of 2024 read with Arbitration Petition (L) No.916 of 2024 to enable the Erstwhile Developer and the New Developer to resume and complete the stalled construction of the building of our Society. Mr. Sawant further added that for the purpose Of signing, execution and registration of the Deed of Assignment, our Society will have to unconditionally withdraw/ cancel/ revoke the Termination Notice dated F November, 2022 /nter alia terminating the Development Agreement dated 13'*' June, 2013 read with First Supplementary Development Agreement dated'XS® December, 2015 and Second Supplementary Development Agreement dated S'" July, 2019 ("said Agreements") /z?ter alia for the default and breaches committed by the Erstwhile Developer in completing the construction of the building of our Society as i I For Sah-Parishram Co-op. Housing Society hsa.

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Chairman

- ■■ . I *1 . ' ' ' ■ * * . . * * the Existing tons Me members within the time frame agreed upon and also'on • . J well as handing over possessionjbf the respective newly construe^ flats to each or 'J:

ground of non-payment of the arrears of the Monthly Rental Compensation payable c, 5 i by the Erstwhile Developer to the Existing bona fide Members of ouf Society needs 4-0?

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to be withdrawn.

- 'iCC'pi I I < I i I RESOLUTION NO.2;

"IT IS UNANIMOUSLY RESOLVED that the Society and its Existing bona fide r Y members, hereby unconditionally withdraw the Termination Notice- dat^ November, 2022 to enable our Society, Existing bona fide members. Erstwhile Developer and the New Developer to sign, execute, register and admit the Deed of Assignment before the Sub-Registrar of Assurances, Mumbai necessary for resuming I and completion of the stalled construction of the building of our Society." Proposed By: Mrs. Kadarnbari Chatteijee Seconded By: Mrs. Archana Phadke Passed Unanimously.

AGENDA NO.3: TO READ, EXPLAIN, ADOPT AND ACCEPT THE DRAFT DEED OF ASSIGNMENT TO BE SIGNED, ENTERED INTO, EXECUTED AND REGISTERED BETWEEN THE SOCIETY ON THE FIRST PART, THE EXISTING 12 (TWELVE) BONA FIDE MEMBERS OF OUR SOCIETY ON THE SECOND PART, THE ERSTWHILE DEVELOPER ON THE THIRD PART AND THE NEW M/S. SURBHI CONSTRUCTION, THROUGH ITS DEVELOPER I.E SOLE V;,: a. "

For Sah-Parishram Co-op. Housirt^ j ... J Chaitman Secretary Ttxufofer Scanned with OKEN Scanner

............................................................... . ...........-r-".,.-■■ I 1 proprietor, MR, MITESH SHAH ON THE FOURTH PART AND TO ADMIT / Mf » ' .. - TT:/ ..--T;...- r THE EXECUTION OF THE DEEP OF ASSIGNMENT BEFORE THE COMPETENT SUB- REGISTRAR OF ASSURANCES AT MUMBAI TO RESUME AND ! COMPLETE THE STALLED REDEVELOPMENT OF THE BUILDING OF OUR SOCIETY AND TO FULLY COMPLY WITH THE TERMS. CONDITIONS. . OBLIGAHONS AND UNDERTAKINGS MENTIONED IN THE DEEP OF ASSIGNMENT.

Mr. Sawant further .explained that the Deed of Assignment to be signed, entered - X - into, executed, registered and admitted between the Society on the First part, the Existing 12 (Twelve) bona fide Members on the Second part, the Erstwhile Developer on the Third part and New Developer i.e., M/s. Surbhi Construction, through its Sole Proprietor, Mr. Mitesh Shah on the Fourth Part, to resume and complete the stalled Redevelopment of the building of our Society and to fully comply with the terms, conditions, obligations and undertakings mentioned in the Deed of Assignment. Mr.

Sawant further clarified that it is Inter alia stated in the Deed of Assignment the Erstwhile Developer along with the New Developer have agreed to pay Hardship Compensation for the period starting from December, 2019 till June, 2024 until the date of signing, execution and registration of the Deed of Assignment, aggregating to a sum of Rs.1,92,33,280/- (Rupees One Crore Ninety-Two Lakhs Thirty-Three Thousand Two Hundred and Eighty Only) to the Society as per the Final Offer dated 3"" July, 2024 from M/s. Surbhi Construction to our Society, which is. already circulated to all the Members. All the Members agree, accept and confirm the contents of the same.- ■ - I.I ForSah-Parishram Co-op. Housing Society ChSrman ' Secrelarf Tr^urer .. -- .'r-'.

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All tfie members understood the same and members also raised their queries which i », b, Mr. S-« pu«,uant to „hld, , umtolv resolved to adopt the Deed of Assignrhent '

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■■ i RESOLUTION NO.3:

't '"S '^ir IS UMNMOUSLY RESOLVED THAT the Deed of Assignment is hereby agreed and accepted and the same is to be signed, entered into, executed, ' ■ 4 registered and admitted between- the Society on the First part, the existing 12 (Twelve) bona fide Members on the Second part, the Erstwhile Developer on the Third part and New Developer i.e., M/s. Surbhi Construction on the Fourth Part, to resume and complete the stalled Redevelopment of the building of our Society and to fully comply with the terms, conditions, obligations and undertakings mentioned In the Deed of Assignment.

IT IS FURTHER UNANIMOUSLY RESOLVED THAT the ErsbwhUe Developer and/or the New Developer would disburse the Hardship Compensation for the period starting from December, 2019 till June, 2024 until the date of -signing, execution and registration of the Deed of Assignment, aggregating to a sum of Rs.1,92,33,280/- (Rupees- One Crore Ninety-Two Lakhs Thirty-Three Thousand Two Hundred and Eighty Only) to the Society as per the Final Offer dated I r July, 2024 addressed by M/s. Surbhi Construction to our Society. ' "IT IS FURTHER UNANIMOUSLY RESOLVED THAT the three Office Bearers,- Chairman - Mr. Shrlkant Bhalchandra Wagh or Secretary - Mr. Amo! Vijay sawant or . Treasurer ~ Mr. Sushi! Shripat Chayan or any one of them Treasurer - Mr. Sushii Shripat Chayan or any one of them are hereby authorized to , ?'

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' J register^^andyadmiifiM'fbeedibl^Ignrnehtf^ ■: , '] ;" sign, -1 ent^- intg^fexe^te,^ S^efybn ihe fJhst pait the listing 12 (Twelve) bona Me Memberspn Vie Second , .■ . ■■■■:<...■ ,-?KSf.rFF*F part, the Erstwhile Developer on the Third part and^the^Nei^^elbperd.e.,^ M/s. , '

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, - ' ■ - ■ ='5.fe /. ".V SuMi Consbvcdon on the Fourth Part, on behalf of the Soclety for the terms and ' } i A ' ' '''^' "''-I ''F'WSl ■' ■ ' . ' ' '■ - andidons more speciffcally mentioned in the Deed of Assignment before the Ik .f, canpetent and concerned Sub-Registrar of Assurances at Mumbai. 7;

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Proposed By: Mn Amit Khair ?

r . - Seconded. By: Mr. Valbhav Joshi 7 ■ .7.7 '

Passed Unanimously.

AGENDA NO.4; TO READ, EXPLAIN, ADOPT AND ACCEPT THE DRAFT CONSENT TERMS TO BE SIGNED AND EXECUTED ON BEHALF OF OUR SOCIETY IN THE ARBITRATION APPLICATION NO. 27 OF 2024 AND ARBITRATION PETITION (L) NO.916 OF 2024 IN THE HON'BLE BOMBAY HIGH COURT WHEREIN THE SOCIETY IS THE PETITIONER, THE ERSTWHILE DEVELOPER IS THE RESPONDENT NO.l AND THE NEW DEVELOPER IS THE RESPONDENT NO.2, THE NEW DEVELOPER IS ADDED AS THE RESPONDENT NO.2 BY VIRTUE OF THE DRAFT AMENDMENT CARRIED OUT IN THE HON^BLE BOMBAY HIGH COURT IN THE CAUSE TITLE OF THE ARBITRATION APPLICATION NO. 27 OF 2024 AND ARBITRATION PETITION (L) NO.916 OF 2024.

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r-rMr Sawant further read and explained the Consent Terms In detail to 'be ^signed executed by our Society in the Arbitration Application No. 27 of 2024 Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein '■ '.I'T Wl'l-.'

the Society is the Petitionee the Erstwhile Developer is the Respondent No,l and & ' , Arbib-ation New Developer is the Respondent No.2, which is added as the Respondent No.2 by :

virtue of the Draft Amendment carried out in the Hon'ble Bombay High Court in die - cause title of the Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024. Mr. Sawant further added that it was inter alia stated in the Draft of Consent Terms that the New Developer undertakes to resume and complete the stalled redevelopment of the building of our Society and handover quiet, vacant and peaceful possession of the newly constructed flats of the existing 12 bona fide Members of our Society in the newly constructed building of our Society after obtaining full Occupation Certificate (full O.C.) within a period of 18 (eighteen) months from the date of signing, execution and registration of the Deed of Assignment Ail the members heard Mr.

Sawant and thereafter agreed, accepted and unanimously resolved to sign and execute the Consent Terms in the Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein the Society is the Petitioner, the Erstwhile Developer is the Respondent No.l and the New Developer is the Respondent No.2. RESOLUTION NO.

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V "IT IS UNANIMOUSLY fteSOLVED that « • executed by our Society in the Arbitration AQpiicstnn^N^JZ of 2024 read with AMiadon PeMon (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein the Society is the Petitioner, the Erstwhile Developer is the PeSpondeht No.l and the^-- New Developer is the Respondent No.2, which is added as the Respondent No.2 by : virtue of the Draft Amendment carried out In the Hon'ble Bombay High Court m die. 27 of 2024 read with Arbitration Petition (L) NoMS of Arbitration App/icatfon Na 2024.

"JT IS FURTHER UNANIMOUSLY RESOLVED THAT the three Office Bearers, Chairman - Mr. Shhkant Bhalchandra Wagh or Secretary - Mr. Amof Vijay Sawant or Treasurer ~ Mr. Sushll Shripat Chavan or any one of them are hereby authorized to execute and admit on behalf of our Society, the Consent Terms in die Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein the Society is the Petitionee the Erstwhile Developer is the Respondent No.l and the New Developer is the Respondent No.2, which is added as the Respondent No.2 by virtue of the Draft Amendment carried out in the Honbie Bombay High Court in the Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of2024. Proposed By; Mrs. Mangala Vaze Seconded By: Mrs. Kadambari Chatterjee Passed Unanimously, ; ?

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ACCEPT THE ARREARS OF MONTHLY RENTAL AGENDA N0*5; TO DUE AND PAYABLE FROM THE MONTH OF DECEMBER, COMPENSATION MORE PARTICULARLY 2019 UP TO THE MONTH OF JUNE, 2024, MENTIONED IN THE CONSENT TERMS TOWARDS AMICABLE SETTLEMENT arrived at between OUR SOCIETY, THE ERSTWHILE DEVELOPER AND the new developer AMOUNTING TO AGGREGATE RS.l,92,33/280/- (RUPEES ONE CRORE NINETY-TWO LAKHS THIRTY-THREE THOUSAND TWO HUNDRED AND EIGHTY ONLY) AS PER THE FINAL OFFER DATED 3"» JULY, 2024 SUBMITTED BY M/S. SURBHI CONSTRUCTION TO OUR ABOVE ALL THE TERMS, CONDITIONS, SOCIETY, OVER AND MUTUALLY AGREED UPON BETWEEN OUR OBLIGATIONS, AMENITIES DEVELOPER IN THE DEVELOPMENT SOCIETY, SHREE RAGHUVANSHI AGREEMENT, SUPPLEMENTARY DEVELOPMENT AGREEMENTS AND PERMANENT ALTERNATIVE ACCOMMODATION AGREEMENTS (PAAAS). RESOLUTION NO.5:

"rriS UNANIMOUSLY RESOLVED that the Monthly Rental Compensation inter alia as stated in the Consent Terms due and payable by the New Developer to the Society as per the Final Offer dated y July, 2024." Proposed By: Mr. Gopichand Margaj Seconded By: Mrs. Mangala Vaze I Passed Unanimously.

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'■■.V f, » ■■ NQ,6j TO CANCFL THS PEftMANBNT 4 AGENDA ACmMMQDAITON AGREgMENT (FAAA) DATFD MARCW OF MR. GOPICHAND ARJUN MARGAJ BY WAY OF DEED OF CANCELLATIOW TO BE , '

■■ , i SIGNED, EXECUTED, ENTERED INTO AND REGISTERED BETWEEN MR/ • GOPICHAND ARJUN MARGAJ, ON THE FIRST PAR^ THE SOCIETY ON THE fe * i SECOND PART AND THE ERSTWHILE DEVELOPER ON THE THIRD PART & is Ssiil _____ _ ... .. ..... ■ - .^'■gi-gsiiscis I ■ g- ii s' 7 FOR THE ERRONEOUS AND INADVERTENT MISTAKE/ FAULT OF THE ■ S4;J4 ERSTWHILE DEVELOPER WHEREIN THE MENTIONED FLAT N0.1002 " ''--z-'S.- ADMEASURING 743 SQ. FT, (CARPET AREA) AS THE SAME FLAT HAS BEEN ERRONEOUSLY ALLOTTED TO MR, VASANT JOSHI AS WELL AS MR. I te GOPICHAND AR3UN MARGA3, BUT THE FLAT N0.1002 HAS TO BE RIGHTLY i ALLOTTED ONLY IN FAVOUR OF MR. VASANT JOSHI. SUBSEQUENTLY A I NEW PERMANENT ALTERNATIVE ACCOMMODATION AGREEMENT (PAAA) FOR FLAT NO. 802 SITUATED ON 8^1 FLOOR, ADMEASURING 601 SO. FT. • 'A:

(CARPET AREA) HAS TO BE ALLOTTED TO MR, GOPICHAND ARJUN MARGAJ AND HAS TO BE DULY SIGNED, EXECUTED, ENTERED INTO AND REGISTERED BY MR. GOPICHAND ARJUN MARGAJ ON FIRST PART, THE SOCIETY ON THE SECOND PART, THE ERSTWHILE DEVELOPER/ NEW DEVELOPER ON THIRD PART AND THE COSTS, CHARGES AND EXPENSES BY WAY OF STAMP DUTY AND REGISTRATION CHARGES DUE AND PAYABLE TO THE OFFICE OF SUB-REGISTRAR OF ASSURANCES HAS TO BE SOLELY BORNE BY THE ERSTWHILE DEVELOPER/ NEW DEVELOPER ONLY FOR THE ERRONEOUS, INADVERTENT AND WRONGFUL REGISTRATION DE ^sh-Parishram Co-op. Housing Society LW.

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35g MARCH, 2016 OF MR. GOPICHAND ARJUN MARGAJ! 2 V ¥ 2 '■ -'M ■ '-i- ■ Mr. Sawant explained the need to cancel the Permanent Alternative Accommodation ■I,:3 ; s ■ Agreement (PAAA) dated 3^ March, 2016 of Mr. Gopichand Arjun Margaj by way Of a ' ? Deed of Cancellation to be signed, executed, entered into and registered between Mr. Gopichand Arjun Margaj on the First part, the Society on the Second Part and the Erstwhile Developer on the Third Part for the erroneous and, inadvertent mistake/ fault of the Erstwhile Developer, wherein the mentioned Flat No. 1002 admeasuring 743 sq. ft. (carpet area) as the flat has been erroneously allotted to f^r. VasantJoshi as well as Mr. Gopichand Arjun Margaj which has to be rightly allotted only in favour of Mr. Vasant Joshi.

Subsequently a new Permanent Alternative Accommodation Agreement (PAAA) for Flat No. 802 situated on 8*'floor, admeasuring 601 sq. ft. (carpet area), which has to be allotted to Mr. Gopichand Arjun Margaj and has to be duly signed, executed, entered into and registered by Mr..Gopichand Arjun Margaj on First Part, the Society on the Second Part, the Erstwhile Developer/ New Developer on the Third Part and the costs, charges and expenses incidental to by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar of Assurances at Mumbai has to be solely borne by the Erstwhile Developer/ New Developer only for the erroneous, inadvertent and wrongful registration of Permanent.Alternative Accommodation Agreement (PAAA) dated 3"" March, 2016 of Mr.

Gopichand Arjun Margaj, which is more particularly stated in the Deed of Assignment duly annexed to the Consent Terms to be signed and executed by our Society in the Arbitration Application No. 27 of 2024 read with Arbitration Petition (Q -f- - - ./ Society Ltd.

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, No.916 of 2024 in the HonW Bombay High Court wherein the Society is the ; .■■; , ^ . ■., ?

Petitinnpr thA FfS;hA/hilp nAvelnner i« thfi UA«innnrtpnf Wn.t anrf thA Waw hAvAlnnAr - * * PetiOonen the €nstwhlle beveJoper fs the Respondent No. X an3 tfie fi^w'BevSope^^ is the Respondent No J- ■ - ■'>■/'

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■ -■ *■ .t- ■■, . ?;■ ''IT IS UNANIMOUSLY RESOLVED to caocef the Permanent A&native •,'; ■ '5/ ft;- Accommoda^on Agreement (PAAA) dated March, 2016 of Mr. Goptchahd Arjur) 1.. * ;

■■■ Margaj by way of Deed of Cancellation to be signed, executed, entered into and registered between Mr. Gopichand Afjun Margaj on the First part, the Society on the Second Part and the Erstwhile Developer on the Third Part for the erroneous and inadvertent mistake/ fault of the Erstwhile Developer wherein the mentioned Flat No.1002 admeasuring 743 sq. ft. (carpet area) as the flat has been allotted to Mr. Vasant Joshi as well as Mr. Gopichand Arjun Margaj which has to be rightly allotted only in favour of Mr. Vasant Joshi. Subsequently, a new Permanent Alternative Accommodation Agreement (PAAA) for Flat No. 802 situated on S" floor admeasuring 625 sq. ft. (carpet area) has to be allotted to Mr. Gopichand Aijun Margaj and has to be duly signed, executed, entered into and registered by Mr.

Gopichand Aijun Margaj on First Part, the Society on the Second Part, the Erstwhile Developer/ New Developer on Third Part and the costs, charges and expenses incidental to by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar ~ar of Assurances at Mumbai has to be solely borne by the Erstwhile Developer/ New Developer only for the erroneous. Inadvertent and wrongful registration of ■ ■ <4 Permanent Alternative Accommodation Agreement (PAAA) dated 3^ March, 2016 of For Sah-Parisbram Co-op. Housing SccielyUd.

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. .. , more particulaHy annexed to the Con.ent^ Terms which are to be signed and executed by our Society in the Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the Honble Bombay High Court wherein the Society is the Petitioner, the Erstwhile Developer Is the Respondent No.l and the "'1 " New Developer is the Respondent No.2."

Proposed By: Mrs. Archana Phadke . ... ,!

. a Seconded--By: Mr. Vijay Haria ■■■■a, Passed Unanimously.

ALTERNATIVE PERMANENT AGENDA NO.7:

TO CANCEL THE ACCOMMODATION AGREEMENT (PAAA) DATED 19^ MARCH, 20X6 OF MRS. ' 5 3ANHAVI AMOL SAWANT AND MR. AMOL VIJAY SAWANT BY WAY OF DEED i OF CANCELLATION TO BE SIGNED, EXECUTED, ENTERED INTO AND I REGISTERED BETWEEN MRS, 3ANHAVI AMOL SAWANT AND MR. AMOL VI3AY SAWANT, ON THE FIRST PART, THE SOCIETY ON THE SECOND PART AND THE ERSTWHILE DEVELOPER ON THE THIRD PART, WHEREIN THE FLAT N0.1301, 13^ FLOOR ADMEASURING 980 SO. FT. (CARPET AREAl SUBSEQUENTLY, HAS BEEN MENTIONED.

NEW PERMANENT ALTERNATIVE ACCOMMODATION AGREEMENT (PAAA) FOR FLAT NO. - 1801 SITUATED ON X8I^ FLOOR, ADMEASURING 980 SO, FT. (CARPET AREA) HAS TO BE ALLOTTED TO MRS. 3ANHAVI AMOL SAWANT AND MR, AMOL VI3AY SAWANT. THE PERMANENT ALTERNATIVE ACCOMMODATION ► Secrejary (J) Scanned with OKEN Scanner T

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HW' ,r AGREEMENT fPAM) FOR PUT HQ. 1801 HAS TO W EXECUTED, ENTERED INTO AWP REGISTEREP BY MRS. JANHAW AMOL - ""9' SAWANT AND MR. AMOL VIJAY SAWANT ON BRST PART, JHE SOqETY ON THE SECOND PART, THE ERSTWHILE DEVELOPER/ NEW OEVEEOPER AS '

i ■ fc- ',4 ON THIRD PART AND THE ENTIRE COSTS, CHARGES AND EXPENSES BY WAY OF STAMP DUTY AND REGISTRATION CHARGES DUE AND PAYABLE TO THE OFFICE OF SUB-REGISTRAR OF ASSURANCES HAS TO BE SOLELY BORNE BY THE ERSTWHILE DEVELOPER/ NEW DEVELOPER ONLY FOR THE ..

ERRONEOUS. INADVERTENT AND WRONGFUL REGISTRATION OF PERMANENT ALTERNATIVE ACCOMMODATION AGREEMENT (PAAA) DATED 19S MARCH, 2016 OF MRS, 3ANHAVI AMOL SAWANT AND MR, AMQL VI3AY SAWANT:

Mr Sawant explained the need to cancel the Permanent Alternative Accommodation ■ , I'

Agreement (PAAA) dated 19?* March. 2016 of Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant by way of a Deed of Cancellation to be signed, executed, entered into and registered between Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant on the First part, the Society on the Second Part and the Erstwhile Developer on the Third Part. Subsequently a new Permanent Alternative Accommodation Agreement (PAAA) for Flat No. 1801 situated on 18"* floor, admeasuring 980 sq. ft. (carpet area), which has to be allotted to Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant and has to be duly signed, executed, entered into and registered by Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant on First Part, the Society on the Second Part, the Erstwhile Developer/ New Developer on the Third Part and the for Sah-Pafishram.Co-op. Housing Society >5 •if .. 1 Cl> Scanned with OKEN Scanner J ■ ■ c V * i Chairman icretary 'vi'"'- '

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I costs, charges and expenses Incidental to by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar of /^suffinces; at Mumbaf has . tobe^lely borne by the Erstwhile Developer/ New Developer on!)^ whlchls particulariy Stated in the Deed of Assignment duly annexed to the Consent Terms to ;

" , be signed and executed by our Society in the Arbitration Application No. 27 of 2024 = • 4 f^d with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein the Society is the Petitioner, the Erstwhile Developer Is the Respondent No.1 and the New Developer is the Respondent No.2. , >,■ 3 RESOLUTION NO.6;

"JT IS UNANIMOUSLY RESOLVED to cancel the Permanent Alternative Accommodation Agreement (PAAA) dated 19^ March, 2016 of Mrst Janhavi.Amol Sawant and Mr. Amol Vijay Sawant by way of Deed of Cancellation to be signed^ . executed, entered into and registered between Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant on the First part, the Society, on the Second Part and the Erstwhile Developer on the Third Part and subsequently, a new Permanent Alternative Accommodation Agreement (PAAA) for Flat No. 1801 situated on 18F floor admeasuring 980 sq. ft. (carpet area) has to be allotted' to Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant and has to be duly signed, executed, entered into and registered by Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant on First Part, the Society on the Second Port, the Erstwhile Developer/ New Developer on Third Part and the costs, charges and expenses incidental to by way of Stamp Duty and Registration Charges due and payable to the Office of Sub-Registrar of For Sah^Partst'fa»®°''^ Society Ud- % ' 'f ■■ •yfe a,, Ghainnan Secretarv .»1<:,,x 1 ......

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by the ErstwMe Developer/ New • Developer, only n}r: the eiropebus, lna^^^ and wrongful registration of i Mrianent Alternative Accommodation Agreement (PAAA) dated i^. Marchy 2016 of Mrs. Janhavi Amol Sawant and Mr. Amo! Vijay Sawant, as more particularly stated in 1, • the Deed Of Assignment, more particularly annexed to the C6nsenttKrms,whieli'^&pt'X,.i tD be signed and executed by our Society in the Arbitration Application No; 27 of i t } '

J 2024 read with Arbitration Petition (L) No.916 of 2024 in tiie}Hohble\^bayHighjiS^^^^^ Court wherein the Society is the Petitioner, the Erstwhile^Deveioper is die^^ Respondent No. 1 and the New Developer is the Respondent Noj2.'f^7'7 \ <J V . ■ .'f :^4..

y, / ■- Proposed By: Mr. Amit Khair ■ ; Ftl; S Seconded By: Mr. Vijay Haria ■ J. - Passed Unanimously.

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y "3 AGENDA NO.8: TO AUTHORIZE THE CHAIRMAN, SECRETARY AND/OR 5B TREASURER TO SIGN AND EXECUTE THE CONSENT TERMS IN THE ARBITRATION APPLICATION NO. 27 OF 2024 AND ARBITRATION PETITION (L) NO.916 OF 2024 XN THE HON^BLE BOMBAY HIGH COURT AND TO SIGN, EXECUTE, ENTER INTO, ADMIT THE EXECUTION OF AND COMPLETE THE REGISTRATION OF DEED OF ASSIGNMENT AND OTHER ANCILLARY AND INCIDENTAL DOCUMENTS ON BEHALF OF OUR SOCIETY

IN THE OFFICE OF THE SUB-REGISTRAR OF ASSURANCES IN FAVOUR OF

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arbitration PEnTXON ft) NO.916 OF 2024 IN THE HON^BLE BOMBAY ■- ■ ■■ a-KH court:

r ■ ; i Mr. Sawant explained that our Society has to authorize the Chairrriah/Sccrefiry ' , , j anchor Treasurer to sign and execute the Consent Terms In lithe? Arbih^dn " ^plication No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the f Hontile Bombay High Court and also to sign, execute, enter into, admit the ' '

execution of and complete the registration of Deed of Assignment and other ancillary and incidental documents on behalf of our Society in the office of the Sub-Registrar of Assurances in favour of the Erstwhile Developer^ and the New Developer within 1 (one) month from the date of signing the Consent Terms in the Arbitration Application No. 27 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court, subject to adjudication by the concerned stamp office. .'if "S'- iiUi - -'-"ff-r'''

<1 \ [ RESOLUTION NO.8:

"ir IS UNANIMOUSLY RESOLVED that the Society hereby authorizes the Chairman, Secretary and/or Treasurer to sign and execute the Consent Terms in the Arbitration Application No. 27 0/2024 read with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court and also to sign, execute, enter into, admit A the execution of and complete the registration of Deed of Assignment and other ancillary and incidental documents on behalf of our Society in the office of the Sub Registrar of Assurances in favour of the erstwhile Developer, and the New Developer I within 6 (six) weeks from the date of signing the Consent Terms in the Arbitration 'Of , j - X '-'I' '

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- seconded By: Mr. V,ibha.toshi S^Bfl .ssed U„,n,.oo.y '

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Vijay Haria & Jemini Maria 8, Vaibhav Joshi ( 9.

Sushil Chavan & Maya Chavan 10.

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ii '■ .r.i Janhavi Sawant &Amoi Sawant 12.

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LIST OF MEMBERS PRESENT IN TODAY'S MEETING:

SR, NO.

__ FLAT NO.

NAME OF MEMBER SIGNATURE Shop 1 Sanjay Aher Shop 3 2.

Shrikant Wagh - 3.

Mangala Vaze 4.

Ranen Anil Kumar Chatteijee !

Kadambari Ranen Chatterjee 5.

Kadambari Chatterjee 6.

Archana Phadke 7.

Amit Khair 8.

Vijay Haria 9.

Vaibhav Joshi 10.

Sushi! Chavan ;ai 11.

Gopichand Margaj 12.

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'I FXHrBrT'B ASSIGNMENT AGREEMENT THIS ASSIGNMENT AGREEMENT ("Agreement) is made, signed, executed and entered into at Mumbai on this day of BY AND BETWEEN:

SAH PARISHRAM CO-OPERATIVE HOUSING SOCIETY LIMITED, a Co-operative Society duly registered under Maharashtra Cooperative Societies Act, 1960, bearing registration no. BOM/HSG/4281 of 1974 having address at 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081, through its Managing Committee Members, namely: Mr. Shrikant Bhalchandra Wagh, (Chairman), Mr. Amol Vijay Sawant (Secretary) and Mr. Sushil Shripat- Chavan (Treasurer) hereinafter referred to as "the said SOCIETY' {which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include its members, successors and assigns) of the FIRST PART;

AND

1) Sanjay A. Aher (PAN NO. AMAPA6571A) age 59 of Mumbai Indian Inhabitant residing at Shop No. 01, Ground Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

2) Shrikant B. Wagh (PAN NO. AAAPW2335G) age 54 of Mumbai Indian Inhabitant residing at Shop No. 03, Ground Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

3) Mangala S. Vaze (PAN NO. ABMPV3736B) age 77 of Mumbai Indian Inhabitant residing at Flat No. 402, 4^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

4) Ranen A. Chatterjee (PAN NO. AACPC1058Q) age 76 and Kadambari R. Chatterjee (PAN NO. AAFPC1900N) age 74 of Mumbai Indian Inhabitant residing at Flat. No. 202, 2'^d Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund/East), Mumbai - 400 081,

5) Kadair'^iiri X. Chatterjee (PAN NO. AAFPC1900N) age '14 of Mumbai Indian Inhabitant residing at Flat No. 302, Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

6) Archana D. Phadke (PAN NO. AJQPP1573L) age 61 of Mumbai Indian Inhabitant residing at Flat No. 502, 5^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

7) Amit S. Khair (PAN NO. AUEPK4128M) age 46 of Mumbai Indian Inhabitant residing at Flat No. 602, 6^

Floor, Sah Farishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

8) Vijay P. Haria (PAN NO. AAAPH1738B) age 58 and Jemini Vijay Haria (PAN NO. AAAPH8592C) age 53 of Mumbai Indian Inhabitant residing at Flat No. 702, 7^^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

9) Vaibhav V. Joshi (PAN ABGPJ4733Q) age 51 of Mumbai Indian Inhabitant residing at Flat No. 1002, 10*^^* Floor, Sah Parishram CHS Ltd., 2, '"Ajnrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081, 10)Sushil S. Chavan (PAN NO. ACIPC1865D) age 65 and Maya Sushil Chavan (PAN NO. AGLPC4970C) age 56 of Mumbai Indian Inhabitant residing at Flat No. 902, 9^^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081, llJGopichand A. Margaj (PAN NO. AAWPN7384G) age 69 of Mumbai Indian Inhabitant residing at Flat No. 802, 8^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081,

12) Janhavi A. Sawant (PAN NO. AGPPS76S9Q) age 54 and Amol V. Sawant (PAN NO. AAIPS9414Q) age 58 of Mumbai Indian Inhabitant residing at Flat No. 1801, 18^^ Floor, Sah Parishram CHS Ltd., 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081, all of Mumbai, I Indian Inhabitants being the Members of the said Society; being the Consenting Members/ Confirming Parties to this Agreement and hereinafter collectively Teferred to as u.the said MEMBERS" (which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include their respective heirs, executors, administrators, successors and assigns) of the SECOND PART AND SHREE RAGHUVANSHI DEVELOPERS, (PAN NO.

ACHPS6857J) a Partnership Firm duly registered under the provisions of the Indian Partnership Act, 1932 and having its registered office at 1®^ Floor, Rughani Arcade, Mathuradas Road, Kandivali (West), Mumbai - 400 067, represented through its Partners: (1) Mr. Tribhuvandas M. Rughani, (PAN NO. AACPR2585H) age 85 Years, residing at 11, Shreeji Palace, Parekh Lane, Off S. V. Road, Kandivali (West), Mumbai - 400 067, (2) Mr. Pinakin T. Rughani, (PAN NO. AACPR2565D) age 54

Years, residing at and (3) Mr, Mitesh B. Shah, (PAN NO. AXPPS8892N) age 51 Years, residing at 12^^ Deepak Mahal, Shimpoli Cross Road No.l, Borivali (West), Mumbai - 400 092, hereinafter referred to as "the said (which expression shall.

ERSTWHILE DEVELOPER"

unless it be repugnant to the context or the meaning thereof, be deemed to mean and include the Partner or Partners for the time being of the said firm, their heirs, executors; administrators and_assigns :of.thedast survivor or surviving partner/s) of the THIRD PART;

AND SURBHI CONSTRUCTION (PAN NO. AXPPS8892N) a Proprietary concern duly incorporated through its Sole Proprietor: MITESH SHAH, having its office at 12, Deepak Mahal, Shimpoli, X Road 1, Borivali (West), Mumbai - 400 092 and having its Registered office at 102, J/Wing, Nisarg Heaven CHS, Mahavir Nagar, Kandivali (West), Mumbai - 400 067, hereinafter referred to as "the New Developer" (which expression shall, unless it be repugnant to the context or meaning thereof. be deemed to mean and include its successors and assigns) of the FOURTH PART.

The party of the First Part, the party of the Second Part, the party of the Third Part and the party of the Fourth Part are hereinafter individually referred to as "the said and collectively referred to PARTY"

said as "the PARTIES".

WHEREAS;

A.-By an Indenture dated .24^ November, 1974 executed Urmila Shankar between Mrs.

Deshmukh, therein referred to as the Vendor and Mrs.

Shaila Anant Vadhavkar, therein referred to as the First Confirming Party, Shri Ambika Construction Company, therein referred to as the Second Confirming Party, Shri D. K. Mhatre therein referred to as the Third Confirming Party, Shri D. E. Teredesai, therein referred to as the Fourth Confirming Party and the said Society herein, therein referred to as the Purchasers, the said Mrs. Urmila Shankar Deshmukh with the confirmation of all the Confirming Parties sold.

transferred.

assigned and conveyed all that piece and parcel of land bearing C.T.S. No.583, admeasuring about 690.69 mtrs.

sq.

or thereabout of Village Mulund (East), Taluka Mulund, Mumbai Suburban District, more particularly described

in the schedule hereunder written and hereinafter referred to as "the said PLOT".

B. In this event, Society is absolutely seized and possessed and is otherwise well and sufficiently entitled to the said building known together with SAH property as PARISHRAM standing thereon, hereinafter referred to as "the said BUILDING". Both the said Plot and the said Building are hereinafter collectively referred to as "the said PROPERTY".

C. The said Society is seized and possessed of and otherwise well and sufficiently entitled to the said Property as the sole and absolute owner thereof.

D. The flat purchasers of the flats in the Existing Structure standing on the said Property formed themselves into a co-operative housing society named being the said of the flat purchasers Society herein and the aforementioned flats have become Members (defined hereinafter) of the said Society. The names of the Members and the particulars of flats allotted to the Members of the said Society are set out in the statement annexed hereto and marked as Annexure U-^99

E. There are total 12 (twelve) existing Members in the said Society occupying 12 existing Flats, of which 10 are residential Flats and 2 are commercial Units. F. The Existing Structure was in a dilapidated condition and required heavy repairs which were uneconomical in the opinion of the said Society and in view thereof, the said Society was desirous of appointing a fit and a proper Developer to redevelop the said Property by demolishing the said Old Building and constructing on the said Property new multi-storied building/s by using and utilizing the entire available Floor Space Index (F.S.I.) emanating from the said Property and also by loading additional Transferable Development Rights (T.D.R.)

in accordance with the applicable provisions of the Development Control Regulations for Greater Mumbai, 1991 (DCR, 1991) or otherwise as may be permissible under any legislation from time to time in force and also any additional F.S.I. as may be permitted by BMC, or other relevant authorities and other applicable provisions of law.

and reconstruction on the said Property, which the said Erstwhile Developer accepted.

By a Registered Development Agreement dated 13^ June, 2013 under bearing no. KRL3-5347-2013 executed by and between the said Society of the one part and the said Erstwhile Developer on the other part (herein after referred to as the "Development Agreement"), the said Society granted development rights in respect of the said Property to the said Erstwhile Developer on the terms and conditions more particularly mentioned therein. A photocopy of the Index II of the Registered Development Agreement is annexed hereto and marked as Annexure "2". Pursuant to the Development Agreement, the said Society executed a Power of Attorney dated 13^ June, 2013 duly registered on 24^'^ June, 2013 under bearing no. KRL3/5348/2013 in favour of the said Erstwhile Developer. A photocopy of the Index II of the Registered Power of Attorney is annexed hereto and marked as Annexure "3".

Pursuant to the Development Agreement, the said Erstwhile Developer applied and obtained Intimation of Disapproval (I.O.D) dated 14^ September, 2015 for development from BMC. A photocopy of the Intimation of

Disapproval (I.O.D) dated 14^^ September, 2015 is annexed hereto and marked as AnneTnire "4".

Further the said Erstwhile Developer demolished the building and obtained structure Commencement Certificate from BMC. A photocopy of the Commencement Certificate is annexed hereto and marked as Annexure "S".

Further, the said Erstwhile Developer and all the J.

Members of the said Society also signed, executed. entered into and duly stamped and registered their respective Permanent Alternative Accommodation Agreements (PAAAs), i.e. Individual Agreements on 19^^ March, 2016. The said PAAAs are valid, binding. subsisting and enforceable under the law as on date. The K.

said Erstwhile Developer furnished a Rs.3,00,00,000/- (Rupees Three Crores Only) Bank Guarantee from Thane Janta Sahakari Bank Ltd. L.

By a Special General Body Resolution dated 25^ November, 2015, the 1st Supplementary Development Agreement dated 14th December, duly was registered on 22"<' January, 2016 under bearing no. Il

KRL2-715-2016 with the Sub-Registrar of Assurances at Kurla and had been signed, entered and executed between the said Society on the one part and the said Erstwhile Developer on the other part. A photocopy of the Index II of the Registered pt Supplementary Development Agreement is annexed hereto and marked as Annexure "6".

Upon completion of the 8'^ slab of the newly constructed M.

building of the said Society and Brick Masonry till the 4'^^ floor the said Erstwhile Developer's liability under the Bank Guarantee had been reduced to an amount of (Rupees One Crore Seventy Lzakhs Rs. 1,70,00,000/- Only) the Bank amended the Bank Guarantee No. BG/11/91 Amendment No.3 (BOW/48/1) for an amount of Rs. 1,70,00,000/- (Rupees One Crore Seventy Lakhs Only) (hereinafter referred to as "New Bank the said Guarantee") on behalf of the said Erstwhile Developer. (2nd) Second Notarised duly Accordingly, N.

a Supplementary Development Agreement dated 5^^ July, 2019 was eventually made, signed, executed and entered between the said Society and the said Erstwhile Second (2nd) in the stated Developer.

It was Supplementary Development Agreement inter alia that in

the Article 8.1 of the said Agreement pertaining to Bank Guarantee of Rs.3,00,00,000/- (Rupees Three Crore Only) had been waived and cancelled and in its place 2 (Two) flats being Flat No. 202 situated on the 2"'^ Floor,. admeasuring 625 sq. ft. RERA carpet along with Flat No. 302 situated on the 3^^ Floor, admeasuring 625 sq. ft. RERA carpet (hereinafter referred to as "the said Security Flats") in the newly constructed building, which are a part of the Free Sale Component of the said Erstwhile Developer, had been reserved as Collateral Security in favour of the said Society. A photocopy of the Notarised Second (2^^) Supplementary Development Agreement dated 5* July, 2019 is annexed hereto and marked as Annexure "7".

The Development Agreement, Supplementary pt Development Agreement and Notarised 2nd Supplementary Development Agreement are hereinafter collectively referred to as said Development "the Agreements''.

Due to certain exigencies, the said Erstwhile Developer failed to comply with some of the terms, conditions and obligations under the said Development Agreements in respect of project completion, as a result of which the

members of the said Society in its Special General Body a Resolution dated 31®^ Meeting unanimously passed October, 2022, thereby confirming and declaring that the said Development Agreements had been terminated. cancelled and revoked. A photocopy of the Special General Body Meeting unanimously passed by the said Society dated Spt October, 2022 is annexed hereto and marked as Annexure ''8'';

Subsequently, several discussions took place between the Q.

Erstwhile Developer and the said Society and the New Developer was approached to undertake the redevelopment of the said Property jointly along with the Erstwhile Developer and the New Developer expressed its intent to undertake the same on mutually and amicably agreeable terms and conditions.

Pursuant to the arrangement. arrived at between the R.

Parties, the following was principally agreed between them:

The said New Developer shall complete the re (i) development of the incomplete building on the said Property by the Society and Erstwhile Developer irrevocably and unconditionally transferring and assigning to the New Developer all Development

Rights in respect of the said Property and also all the right, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements, on the terms and conditions hereinafter appearing.

(H) It is agreed between the Parties herein that in regards to one of the members of the said Society i.e. Mr. Gopichand-Arjun Margaj, the Permanent Alternative Accommodation Agreement (PAAA) executed between Erstwhile Developer dated 31 st March, 2016 (registered with the office of the Sub Registrar of Assurances at KURLA 1 under serial No. 3481/2016) has erroneously and inadvertently mentioned the Flat No. 1002 admeasuring 743 sq. ft. (carpet area) instead and in place of Flat No.802 admeasuring 601 sq. ft carpet area, which is agreed to be rectified and corrected by executing a of Cancellation Deed and Fresh Permanent Alternative Accommodation Agreement for the aforementioned member of the said Society for the flat No.802. The Deed of Cancellation and Fresh Permanent Alternate Accommodation Agreement in respect of Mr. Gopichand Aijun Margaj for flat No.802 shall be executed simultaneously to the

execution of these presents. The Registration Fees, the Stamp Duty Charges and out of pocket expenses, if any applicable, for the said Deed of Alternate Cancellation and Fresh Permanent Accommodation Agreement in respect of Mr.

Gopichand Arjun Margaj for flat No.802 shall be entirely borne by the New Developer only. It is further confirmed and acknowledged that Flat N0.-IOO.2 -admeasuring 743 -sq. ft: carpet area is allotted to Mr. Vasant Joshi, at the terms recorded Accommodation his Alternate in Permanent IAgreement.

It is agreed between the Parties herein that in (iii) regards to another member of the said Society i.e. Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant, the Permanent Alternative Accommodation Agreement (PAAA) executed between Erstwhile Developer dated 19^^ March, 2016 (registered with the office of the Sub-Registrar of Assurances at Mumbai under serial No.2964/2016) in relation to the Flat No. 1301, situate on the 13^ floor.

admeasuring 980 sq. ft. (carpet area) shall be duly cancelled by signing, executing and entering into a Deed of Cancellation and thereafter, Mrs. Janhavi

Amol Sawant and Mr. Amol Vijay Sawant on the first part, the said Society on the second part and the said Erstwhile Developer on the other part and a Fresh shall sign, execute and enter into Permanent Alternative Accommodation Agreement (PAAA) in respect of the new flat No. 1801, situated on the 18^^ floor, admeasuring 980 sq. ft. (carpet area) in the newly constructed building. The Deed of Cancellation and Fresh Permanent Alternative Accommodation Agreement (PAAA) in respect of Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant for flat No. 1801 shall be executed simultaneously to the execution of these presents. The Registration Fees, the Stamp Duty Charges and out of pocket expenses, if any applicable, for the said Deed of Cancellation and Fresh Permanent Alternate Accommodation Agreement in respect of Mrs. Janhavi Amol Sawant and Mr. Amol Vijay Sawant for flat No. 1801 shall be entirely borne by the New Developer only.

(iv) The New Developer shall undertake the incomplete project of re-development of the building of the said Society initiated by the Erstwhile Developer and shall further undertake and complete the re-

development of the said Property in accordance with the said Development Agreements read together with the fresh terms of the Offer that have been captured in detail in this Agreement.

The New Developer has inspected the building of (V) the said Society and satisfied themselves with the structural stability. The New Developer has submitted all its Brochure to the, said Society'with necessary documents, papers on 20^ June, 2024 and the said Society is fully satisfied with the Brochure of the New Developer to commence and complete the re-development project of the said Society.

The Erstwhile Developer has till date executed 8 (vi) (eight) Agreements for Sale in respect of its free sale said the under entitlement component Development Agreements and has received part (hereinafter thereof in consideration respect referred to as the "Sold Premises"). The details of the Sold Premises are captured in Annexure hereto. The Parties have agreed that the said Society and the New Developer shall be bound by the aforesaid 8 (eight) Agreements for Sale. The

New Developer shall be entitled to receive the balance consideration from the said Flat Allottees/ Buyers of the Sold Premises in the amounts and manner detailed in Annexure hereto. The "10"

said Society shall admit the membership of such 8 (eight) Flat Allottees/ Buyers upon the New Developer obtaining the full Occupation Certificate. The New Developer shall submit to the said Society copies of such registered Agreements for Sale of such 8 (eight) Flat Allottees/ Buyers alongwith the requisite admission fees of Rs.25,000/- (Rupees Twenty-Five Thousand Only) and other necessary as per the New Model Bye-laws of Cocharges operative Housing Society, 2014.

(vii) The New Developer shall be liable and responsible for. all necessary assistance and compliances under Real Estate (Regulation and Development) Act, 2016 (RERA) and if any claims and/or complaints are or proceedings are filed by any person made against the Erstwhile Developer or New Developer under the provisions of RERA, the New Developer alone shall be liable and responsible for the same and the same will be cleared and settled by the

New Developer at its own costs, charges, efforts and expenses for an on behalf of the Erstwhile Developer without any implications thereof. The said Society and the Erstwhile Developer agree and undertake to provide such necessary NOC, declarations as may be required by Maha-RERA for extension of the RERA timelines in respect of the project completion, including such assistance and necessary co-operation to the New Developer;

(viii) The Erstwhile Developer had availed a loan from Reliance Home Finance Ltd. (RHFL) for which as on the date of execution of these presents a sum of Rs.3,50,00,000/- approximately is outstanding against security of unsold flats {"RHFL Loan")- The on date the New Developer is aware that, as aforesaid RHFL loan is outstanding and payable in as part of the arrangement of respect thereof and the assignment herein the New Developer has agreed to have the RHFL Loan repaid and cleared within 5 (five) months from the date of execution of these presents. The said Society and its Member shall in no manner be liable for such repayment and the New Developer shall be responsible for the same at their costs, charges and expenses. The

new developer take responsibility for make the payment as per final closure on behalf of the erstwhile developers against the said RHFL loan. In any event, it is agreed between all the parties that the said loan of RHFL or any part thereof shall not be liable to be paid by the said Society or any of its 12 bona fide Members under any circumstances whatsoever in nature. The said Society and the Erstwhile Developer shall not be responsible for such loan, mortgage, charge, lien in this behalf. The said Society shall not entertain any such claim any other banking/ non-banking of RHFL or financial institutions.

The said Society, by its notice dated 21®^ June, 2024 called upon its Members to attend a Special General Body Meeting on July, 2024. The agenda of the said meeting was to resolve to withdraw the termination, cancellation and revocation of the said Development Agreements through its Advocates Notice dated 1st November, 2022, to withdraw the Public Notice dated 15^ November, 2022 and further to resolve to obtain approval/ sanction/ permission of the said Society and all its Members for the assignment and/or transfer of the Development Rights in respect of the said Property and

also all the rights, title, interest, benefits, advantages under the said Development Agreements by the said Erstwhile Developer in favour of the New Developer and also to irrevocably and unconditionally grant, transfer and assign the Development Rights to the New Developer. It was also resolved to irrevocably and unconditionally grant, transfer and assign to the New Developer, the Development Rights and execute and register Assignment Agreement and all other ancillaiy deeds, documents and writing in favour of the New Developer. The said process of approval was done in accordance with the Model Bye Laws of Maharashtra Co-operative Societies, Guidelines of the Government of Maharashtra with regards to re development process and the provision of Maharashtra Co-operative Societies Act, 1960. A photocopy of the Special General Body Resolution dated 5^^ July, 2024 unanimously passed by the said Society is annexed hereto and marked as Annexure "11".

The New Developer has independently verified and T.

satisfied itself with the title of the said Property and shall not make any claims in respect thereof in future. Pursuant to the aforesaid, the Parties hereto have agreed U.

to execute this Assignment Agreement, recording the

terms and conditions mutually agreed upon between them, as hereinafter appearing, for the transfer and assignment of the Development Rights of the said Erstwhile Developer in respect of the said Property and also all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements, by the said Erstwhile Developer to the New Developer and also irrevocably and unconditionally grant. transfer and assignment to the New Developer, the Development Rights, by the said Society to the New Developer.

NOW THEREFORE THIS AGREEMENT WITNESSTH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:

ARTICLE 1: DEFINITIONS AND INTERPRETATIONS 1.1 Definitions In this Agreement, except where the context otherwise requires, the capitalized terms set out herein shall have the meanings assigned to them as below:

or "Assignment Agreement" shall mean 1.1.1 "Agreement"

this Assignment Agreement or this Agreement including Schedules and and all hereinabove the Recitals Annexures attached to it and shall include any modifications of the same as may be mutually agreed in writing by the Parties hereto.

Development Rights" shall mean and include all said 1.1.2 title, interest, benefits, Property and all the right, advantages, potential, development potential etc. in respect of the said Property and also all FSI, layout PSI, pro-rata area FSI, TDR, yield, floating rights etc. in respect of, and/or arising from and/or in relation to and/or available and/or emanating from and/or derived from the said Property and also all FSI, TDR, fungible FSI, free FSI, yield, floating rights, benefits, advantages etc. that could be consumed, loaded and/or utilised on the said Property including fungible FSI, free FSI, FSI available by paying premium, compensatory FSI and also all the FSI, TDR, yield, floating rights etc. arising from and/or in relation to and/or available and/or emanating from and/or derived from any scheme and/or under any law and/or as a result of any change in government policies and/or building control regulations and/or applicable law or otherwise howsoever and also all the

rights, title, interest, benefits, advantages, claims and demands of the Said Erstwhile Developer under the said Development Agreement.

"Members" shall mean all the bona fide 12 Members of 1.1.3 . the said Society.

Interpretation:

1.2 In this Agreement, where the context admits:

1.2.1 any reference to any law shall include: 1.2.1.1 all subordinate legislation made from time to time under that provision (whether or not amended, modified, re enacted or consolidated);

1.2.1.2 such law as from time to time amended, modified, re enacted or consolidated (whether before, on or after the date of this Agreement);

1.2.2 when singular shall include the plural and vice-versa;

1.2.3 headings to clauses, parts and paragraphs of schedules and schedules are for convenience only and do not affect the interpretation of this Agreement;

Recitals form an operative part of this Agreement. 1.3 The Recitals of this Agreement shall form an integral and operative part of this Agreement, as if the same are set out.and-incorporated-herein in verbatim.

ARTICLE 2: DEVELOPMENT Subject to the terms and conditions contained in this 2.1 Agreement, the said Society hereby grants to the New Developer and the said Erstwhile Developer hereby irrevocably transfers and assigns to the New Developer, Development Rights in respect of the said Property and also all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements and the said Society hereby permits, agrees, confirms and acknowledges the irrevocable transfer and assignment of all the Development Rights of the said Erstwhile Developer in respect of the said Property and also all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development

Agreements, by the said Erstwhile Developer to the New Developer and the said Society hereby also irrevocably and unconditionally grants, transfers and assigns the Development Rights (hereinafter defined) to the New Developer.

The Erstwhile Developer has till date executed 8 (eight) 2.2 Agreements for Sale in respect of its free sale component entitlement under the said. Development Agreements and has received part consideration in respect thereof ("Sold Premises"). The details of the Sold Premises are captured in 'Annexure 9' hereto. The Parties have agreed that the said Society and the New Developer shall be bound by the aforesaid 8 (eight) Agreements for Sale. The New Developer shall be entitled to receive the balance consideration from the said Flat Allottees/ Buyers in the amounts of the Sold Premises and manner detailed in * 'Annexure 10' hereto. The said Society shall admit the * said Flat Allottees/ Buyers as members of the said Society. The said Society undertakes to admit the membership of such 8 (eight) Flat Allottees/ Buyers upon the New Developer obtaining the full Occupation Certificate. The New Developer shall submit to the said Society copies of such registered Agreements for Sale of such 8 (eight) Flat Allottees/ Buyers alongwith the

requisite admission fees of Rs.25,000/- (Rupees TwentyFive Thousand Only) and other necessary charges as per the New Model Bye-laws of Co-operative Housing Society, 2014.

On and from the execution hereof the New Developer 2.3 shall have irrevocable and unconditional rights and shall be entitled to:

the Development Rights and further construct and (a) complete the newly constructed structure which has been stalled by the said Erstwhile Developer and also to further exploit, use, consume, load etc. the Development Rights and (c) develop the said Property and construct ("New wing/building/s thereon more one or Building/s**), as per the sanctioned plans and/or as per applicable law;

sanctions, permissions.

all obtain apply for and (b) objections, etc. and proceed with the approvals, no development of the said Property for completing the newly constructed of the construction remaining structure which has been stalled by the said Erstwhile Developer;

(c) do and execute and/or caused to be done and executed all the acts, deeds, matter and things which are not specifically mentioned herein for development of the said Property and completing the remaining construction of the newly constructed structure which has been stalled by the said Erstwhile Developer;

market, sell, transfer, deal with, dispose off and (d) otherwise create third, party.rights only on and/or in respect of the Sale Premises, other than the Sold on the New Developer's own account and for Premises, the New Developer's own benefit, and subject to what is stated in Clause 2.2 hereinabove neither the said Society nor any of its Members nor the said Erstwhile Developer shall have any right, title, interest or claim etc. of any nature whatsoever in respect on the Sale Premises or any part thereof. It is further clarified that the said Erstwhile Developer has, upon the execution of these presents as stated hereinabove, confirmed that it has no right, title or interest in the said Property or in the development thereof and/or against the said Society and/or against the New Developer. The said Erstwhile Developer further confirms that it has no claim or right of any nature whatsoever in any premises, new Building/s and/or the

said Property and/or any part thereof and/or against the said Society and/or against the New Developer; get amendment to the No Objection Certificate and to get (e) plans, designs and specifications sanctioned by BMC, designs and amended to or get further plans, specifications of the New Building/s sanctioned by utilising the full development potential of the said property sanctioned, by utilising -the balance, and/or additional FSI, TDR/ FSI, fungible FSI, free FSI, compensatory FSI, premium FSl etc. of the layout of the plots of which the said Property forms part and which can be utilised and consumed on the said Property, provided however that area of the Members' New Premises shall not be reduced without obtaining prior approval in writing of the said Society;

to get the change of user of the first floor of the New (f) Building as commercial/office approved by MCGM and alter and amend the plans in the MCGM accordingly; obtain FSl, pro-rata FSI, layout FSI and also TDR in (g) respect of any reserved portion of the said Property and utilise the same either on remainder of the said Property or elsewhere as is permissible. The New Developer shall

further be entitled to use and utilise any additional benefits and entitlements available from time to time in respect of the Plot as per DCPR 2034 rules, regulations, circulars, notifications, government resolutions, DCPR etc (including but not limited to increase in permissible height, reduction in premiums, any other FSI benefit, etc) as amended from time to time. It is further agreed that the NOC given by the said Society to the New Developer is perpetual in nature and.no further NOC will be required during the construction and completion of re project, unless the same development is specifically required by ai^y government authority. It is further agreed that these presents shall be deemed to be NOC given by the said Society to the New Developer for all the purposes pertaining to re-development.

(h) allot, sell and/or allow on ownership basis the Sale Premises in the New Building or within said Property, other than the Sold Premises to prospective purchasers and for that purpose to enter into on its own behalf agreements and/or letters of allotment and/or such other writings and/or documents in its own name. It is also agreed that the New Developer shall be entitled to receive and retain with it all moneys from persons to whom the Sale Premises are sold or allotted or agreed to be sold

and/or allotted and to appropriate same in such manner as the New Developer may deem fit. All moneys which shall be received by the New Developer from such persons shall belong to the New Developer and will be received by it on its own account; and The said Society and the Members expressly agree that 2.4 the Developer has the right to utilize and consume the FSI/TDR-FSI or the benefits on the said Property under any rules, regulations, laws, circulars, notices under Regulation 33(7)(B) and/or any other Regulation/s of the DCPR 2034. The said Society and the Existing Members grant their irrevocable consent to the avail aforesaid and/or any other of Regulation 33(7)(B) benefit Regulations without any further consideration and/or benefits. The said Society and the Existing Members shall not dispute the aforesaid benefits being availed by the Developer at any point in time.

The New Developer shall be entitled to sell and/or 2.5 transfer/mortgage etc. the Sale Premises including any and all premises for residential/ commercial purposes, save and except the Member's New Premises and the Sold Premises.

ARTICLE 3: SETTLEMENT ARRIVED AT WITH THE ERSTWHILE DEVELOPER:

3.1 The Erstwhile Developer, shall from the date of execution hereof, not be bound by or held liable in respect of any of the terms stated in the said Development Agreements or any other documents executed in furtherance thereof.

3.2 The New Developer shall be liable or responsible for all compliances under Real Estate (Regulation and Development) Act, 2016 (RERA) and if any claims and/or complaints are made or proceedings are filed by any person against the Erstwhile Developer/New Developer under the provisions of RERA, the New Developer alone shall be liable and responsible for the same and the same will be cleared and settled by the New Developer alone at its own costs, charges, efforts and expenses for an on behalf of the Erstwhile Developer without any implications thereof. However, the said Society and the Erstwhile Developer shall extend its full cooperation and assistance to the New Developer for signing various documents, vouchers, affidavits, etc. at the request of the New Developer, and as may be required under the RERA, without the said Society being liable for any of the acts of

the New Developer/ Erstwhile Developer, including monetary liabilities, as required under the RERA. 3.3 The said Society, the Members of the said Society and the New Developer hereto agree and declare that from the date of execution of this Agreement, they shall not claim and/or demand from the Erstwhile Developer under the said Development Agreements or otherwise, any right of any nature whatsoever nor shall they at any time in future institute any legal whether in present or proceedings against the Erstwhile Developer relating to or arising under the said Development Agreements or otherwise.

AND PAYABLE CONSIDERATION 4:

ARTICLE OBLIGATIONS OF THE NEW DEVELOPER In consideration of the said Erstwhile Developer having 4.1 transferred and assigned to the New Developer all its Development Rights in respect to the said Property and all the rights, title, interest, benefits, advantages of the said Development said the Developer under Erstwhile Agreements and in consideration of the said Society having permitted, agreed, acknowledged and confirmed the transfer and assignment of the Development Rights in

respect to the said Property and all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements, by the said Erstwhile Developer to the New Developer and subject to the said Erstwhile Developer and the said Society fully performing and discharging ail their obligations, liabilities, etc. as set out in this Agreement, to the satisfaction of the New Developer.

of the 4.2 In consideration said Society permitting, acknowledging and confirming the transfer and assignment by the said Erstwhile Developer to the New Developer, the Development Rights in respect to the said Property and all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements and in consideration of the said Society having granted, transferred and assigned the Development Rights in respect to the said Property to the New Developer and subject to the said Erstwhile Developer and the said Society fully performing and discharging all their obligations, liabilities, etc. as set out in this Agreement, to the satisfaction of the New Developer, the New Developer shall -

4.2.1 (a) to pay the arrears of Monthly Rental Compensation for the period December, 2019 till June, 2024 and (b) to pay further Monthly Rental Compensation till the date of obtaining the full Occupation Certificate (full O.C.) and handing over quiet, vacant and peaceful possession of the newly constructed Flats to each Member of the Society strictly in accordance with the Final Offer of the New Developer dated July, 2024 addressed to the said Society. A copy of the Final Offer of the New Developer dated July, 2024 addressed to the said Society is annexed as Annexure "12" hereto. The Parties agree, accept and confirm the contents of the Final Offer and shall strictly comply and observe the same in toto.

4.2.2 The New Developer shall handover quiet, vacant and peaceful possession of the Members' New Premises all the 12 (twelve) Members' of the Society upon obtaining full O.C.;

4.2.3 The New Developer shall provide Car Parking Space in Tower Parking to each of the Member as per the terms. conditions and obligations mentioned in the said Development Agreement read with their respective Permanent Alternative Accommodation (Individual

Agreement) duly signed, executed and registered between the said Members, the said Society and the said Erstwhile Developer.

4.2.4 The Members New Premises shall contain fixtures, fittings and amenities strictly in accordance with the terms, conditions and obligations more particularly set out in the Development Agreement as same are set out in the statement annexed hereto and marked as Annexure "13".

4.2.5 The New Developer shall commence paying the Monthly Rental Compensation of (i) Rs.52/- (Rupees Fifty Two Only) to each and every residential and (ii) Rs.94 (Rupees Ninety Four Only) to each and every commercial member from the date of execution and registration of these presents till the New Developer obtains Part OC from MCGM in case of the commercial shops and Full Occupation Certificate ( Full O.C.) from MCGM and quite, vacant and peaceful possession is handed over to all existing bona fide members of the said Society.

ARTICLE 5: ALLOTMENT

Subject to the terms hereof and subject to the Force 5.1 Majeure and provided there is no default on the part of the said Society and/or any of its Members, the construction work in respect to the Members' New Premises shall be completed by the New Developer and all Members shall be put in possession of the respective Members New Premises allotted to them within 18 (eighteen) months from the date of signing, execution and registration of this presents along with the full Occupation Certificate:-(full-O.C.) from_the BMC. In addition to the aforementioned period of 18 months, the New Developer shall also be entitled to an additional grace period of 6 months to complete the construction of the Members' New Premises and put the Members in possession of the respective Members . New Premises allotted to them.

Provided however that the New Developer shall be entitled to extension of time for completion of construction of the and/or putting Members in Members New Premises possession of respective flats in New Building, if development or construction work is delayed on account of following Force Majeure events:

Non availability of steel, cement, other building materials. (i) water, electricity supply;

(ii) war, civil commotion or act of God;

(iii) any notice, order, rule, notification of government and/or other public and/or competent authority prohibiting the proposed development construction or stop construction by any bank or other like cause.

(iv) fire, earthquake.

flood, epidemic/ pandemic like situation, riot, civil disturbance, failure or delay of any transportation agency or acts of public authorities, change in law, regulations.

or the policies. or nonissuance of necessary approvals including I.O.D., C.C., non-approvals of plans, any order of any court, tribunal. authority etc. and/or any and all other acts and/or causes which are beyond the reasonable control of the New Developer.

Provided that period during which work is delayed on account of obstruction, hindrance or interference or any of the aforesaid acts or events or any act done by the said Society or any of the Members shall be excluded in computing aforementioned period.

5.2 In the event the New Developer is unable (a) to complete the construction of the Members' New Premises; and

(b) put the Members in possession of the respective Members to them in the aforementioned New Premises allotted stipulated period,_the Society shall strictly act in accordance with the terms, conditions and obligations under this Deed of Assignment.

Upon receiving the full O.C., the New Developer shall 5.3 intimate to the said Society that the Members' New Premises to be allotted -to the Members, are ready for use andoccupation. The said Society shall, within 30 days of the New Developer informing the said Society that the flats to be allotted to all the Members are ready for use and occupation, shall cause all the Members to take possession of their respective New Premises allotted to them and shall cause all the Members from period commencing 30 days from the date of such intimation to bear and pay maintenance, taxes. cesses, dues, duties and all other outgoings in respect of the New Premises allotted to them regularly and up to date. The New Developer shall not be liable or responsible to bear or pay maintenance, taxes, cesses, dues, duties and/or any other outgoings in respect of the flat allotted to them after expiiy of 30 days from the date of the aforesaid intimation by the New Developer.

5.4 Actual allotment of the Members' New Premises to each of the 12 bona fide Members shall be made by the said Society and shall be intimated by the said Society to the New Developer within 7 (seven) days of the date of receipt of the aforesaid intimation from the New Developer.

5.5 The said Society shall, within 30 (thirty) days of obtaining further Commencement Certificate (further C.C.) by the New Developer, ensure and cause each, of the Members to enter into, execute and register individual agreements or the Deed of Confirmation as the case may be with the New Developer in respect of the respective Members' New Premises. The stamp duty and registration charges in respect of the said Individual Agreement shall be borne and paid by the New Developer.

ARTICLE 6: ENTITLEMENT OF THE NEW DEVELOPER 6.1 On and from the execution of this Agreement, the Newx Developer will have irrevocable rights and shall be entitled to:

all the rights including Development Rights as 6.1.1 contemplated herein;

appoint architect and other persons, and 6.1.2 prepare, revise, amend plans etc. necessary towards completion of the stalled re-development project of the building of the Members.

exploit all benefits and the Development Rights 6.1.3 in respect of the said Property;

put up-its own hoardings and. boards, save'and. 6.1.4 except other commercial Advertising Hoardings on the said Property till the date of occupation certificate or till all the Sale Premises are sold by the New Developer and entire consideration in respect thereof are received by the New Developer, whichever is later;

do and execute and/or caused to be done and 6.1.5 executed all, the acts, deeds, matters and things which are not specifically mentioned herein for the completion of construction of the stalled building of the Members and also for sell, transfer, mortgage and/or otherwise deal with and/or dispose of the Sale Premises, save and except Members Premises, and the sale proceeds and other consideration and receive and appropriate the sale proceeds and other consideration thereof.

6.2 The Developer shall be entitled to put his own brand hoardings on walls of terrace and entrance lobby terrace of the New Building No space shall be used on terrace for hoarding. All the light maintenance bill towards the said hoardings of developer shall be paid by Developer. ARTICLE 7: SALE PREMISES 7.1 The said Society and the said Members and the said. Erstwhile Developer hereby confirm, warrant, agree and acknowledge that subject to what is stated in Clause 2.2 hereinabove, the New Developer shall at its own rights be entitled to and will have irrevocable right to sell, transfer, convey, deal with, dispose of etc. the Sale Premises in such manner as the New Developer deems fit and proper and further to receive, retain, appropriate etc.

the entire consideration that may be received by the New Developer in consideration of such sale/ transfer/ conveyance. The New Developer shall be doing so in its own capacity on a Principal-to-Principal basis with the prospective acquires and it is clarified that the New Developer shall hereafter not require any further confirmation of the said Society and/or any other person in the course of sale, transfer or otherwise of the Sale Premises.

confirm that save and except the RHFL Loan, there are no encumbrances, mortgages, lien, charge, rights or any other encumbrances or impediments on the said Property and/or Development Rights. It is also agreed and clarified that upon execution of this Agreement the said Erstwhile right, title, interest or claim in Developer shall have no the said Property and/or in the Development Rights and/or all the premises including Sale Premises and/or the development thereof and/or against the said Society or the New Developer and the New Developer shall be solely and exclusively entitled to complete the stalled redevelopment of the said Property in such manner as it may deem fit and proper.

7.2 The New Developer shall send a written request to the said Society to make such acquirer a member of the said Society. The said Society shall hereby irrevocably and unconditionally agree to induct such transferees/ nominees of the New Developer as well as Erstwhile Developers (under 8 (eight) Sold Premises) as member/s in the said Society and such transferee/ nominee of the New Developer shall be treated by the said Society at par with the said Existing Members or their transferees and shall not be discriminated against for any reason whatsoever and howsoever arising by the said Society and

the said Existing Members or their transferees shall not object to such inclusion of such acquirers for any reason whatsoever and howsoever arising. The said Society and its Members agree and undertake that the said Society shall admit purchasers of Sale Premises on payment of (a) (Rupees Rs.500/- Five Hundred Only) share as application money; (b) Rs. 100/- (Rupees One Hundred Only) as entrance fee and (c) Rs.

25,000/- (Rupees Twenty Five Thousand Only) as entrance/transfer fee and the said Society shall not call for or require any other payment from for admission such purchasers to membership of the said Society and the Flat Purchasers submitting through the said New Developer (the New Developer shall submit the required documents for the Erstwhile Developers purchasers under Sold Premises as well), their Membership application form along with copy of Ownership Agreement under section 4 of the Maharashtra Ownership Flats Act, 1963 and MahaRERA duly registered and an intimation by the said Developer to enrol the Flat Purchasers as the Members of the said Society and the said Society shall have admitted the Flat Purchasers as Members.

flats and premises is handed over to them. The said Society agrees not to admit any acquirer of the premises comprised in the Sale Premises directly without written request by the New Developer.

7.3 In the event if any units comprised in the Sale Premises remain unsold by the New Developer at the time of completion of construction of the New Building/s then and in ;such an event, if requested by the New Developer, the said Society shall induct the New Developer as a member of the said Society in respect of such unsold flats on payment of requisite entrance fees, share application money as well as the regular maintenance charges after obtaining O.C. and their share of the property/ municipal taxes and the proportionate sinking fund amount shall be borne exclusively by the New Developer in respect of the unsold flats comprising Sale Premises.

7.4 The New Developer shall intimate the names of acquirers of the Sale Premises to the said Society after execution and registration of the requisite Agreement for Sale with such new acquirers. However, they shall be made members of the said Society only after possession of their flat has been legally delivered/ handed over to them and

the New Developer has completed all his obligations under this Agreement.

7.5 The New Developer itself or the prospective purchasers of flats of the Sale Premises shall have right and shall be entitled to create a charge/mortgage in respect of the Sale Premises to be constructed by the New Developer, with any bank, financial institutions or any other public or private body or authority or person and to raise project finance, housing loan and to execute any document and this Clause shall at all times operate as an irrevocable clause with no objection from the said Society and/ or all of its Members in that behalf. However, the New Developer/ prospective flat purchasers of the Sale Premises, shall be solely and exclusively responsible for repayment of such loans or financial assistance and the said Society shall in no circumstances be liable for the repayment thereof.

Without prejudice to the foregoing, the said Society shall give requisite no objections (in a format -• submitted by the acquirers) if the said acquirers require the same for availing of any loans or financial assistance from any bank or financial institution.

Members, in favour of any bank, financial institution or any other public or private body or authority or Person and for that purpose to sign and execute necessary documents.

ARTICLE 8: POWER OF ATTORNEY:

The said Society simultaneously with the execution of this Agreement-Shall: (a),-execute an irrevocable Power of Attorney in favour of the New Developer thereby authorizing the New authorised directors / partners and Developer and its representatives to do all acts, deeds, matters and things in respect of the said Property and (b) cancel and terminate the said Registered Power of Attorney dated 13*^ June, 2013 duly bearing registered 24th under June, no.

on KRL3/5348/2013 executed by the said Society in favour of the said Erstwhile Developer. The Parties hereto agree that the Registered Power of Attorney dated 13* June, 2013 duly 24th under bearing June, no.

on registered KRL3/5348/2013 executed by the said Society in favour of the said Erstwhile Developer in pursuance of the said Development Agreement is hereby cancelled and revoked by mutual consent. The said Society shall issue a fresh Power of Attorney in favour of the New Developer for commencing and completing the stalled construction work of building of the Society and the

Power of Attorney, which was furnished to the Erstwhile Developer by the Society, shall stand cancelled, revoked and terminated. The said Society shall sign, execute and register a fresh Power of Attorney in favour of the New Developer, as and when required.

ARTICLE 9:

REPRESENTATIONS, WARRANTIES AND COVENANTS The said Society represent, declare and confirm as 9.1 follows:

9.1.1 all and whatsoever that is stated in the recitals are true and correct.

9.1.2 The Members whose particulars are set out in 'Annexure 1 * hereto are the only existing bona fide Members of the said Society.

9.1.3 Besides the said Society, no one else had got or was or is claimed to have other entitled to claim any share, right, title and interest of any nature or to any extent whatsoever to or in said Property or any part thereof.

The said Erstwhile Developer is entitled to 9.1.4 transfer and assign all its Development Rights in respect to the said Property and all the rights, title, interests. benefits, advantages and liabilities of the said Erstwhile Developer under the said Development Agreements as mentioned under these presents to the New Developer, on the terms and conditions more specifically contained herein and the parties hereto hereby accept, confirm and admit: the- same.

The said Society is entitled to permit and/or 9.1.5 grant the transfer and assignment of the Development Rights of the said Erstwhile Developer in respect to the said Property and all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements to the New Developer, on the terms and conditions more specifically contained herein;

said Society and said Erstwhile the The 9.1.6 Developer are competent, capable and in a position to observe, perform and/or comply with all the terms, conditions, covenants, undertakings as contained in this Agreement.

9.1.7 The title of the said Society to the said Property is clear and marketable and save and except the RHPL Loan, is free from all encumbrances, claims, demands, or financial lien, mortgage, loan from bank and/ institution and doubts and the said Society, with consent and concurrence of the said Members has got good right, full power and absolute authority to grant, transfer and assign the Development Rights from the said Erstwhile Developer,to the New Developer.

9.1.8 No Notice/Notices is/are issued for requisition and/or acquisition of the Development Rights and/or the said Property or any part thereof.

9.1.9 The said Property is not reserved or earmarked for any public purpose.

Save and except the Sold Premises, there is no 9.1.10 pending, valid or enforceable agreement, commitment, understanding and/or arrangement of any nature whatsoever as entered into in respect of the said Property and/or the Development Rights.

9.1.11 Save and except the Sold Premises and RHPL Loan, there are no pending adverse or Third Party Rights

in respect of the said Property and/or the Development Rights as entered into or created.

9.1.12 There are no suits nor any proceedings nor any Us pendens or other notice of any attachment either before or after judgment pending in respect of the Development Rights and/or the said Property or any part thereof.

prohibitory or any attachment 9.1.13 There are no orders or otherwise any liabilities in respect of the said Property and/or the Development Rights or any part thereof.

9.1.14 There are no Estate Duty, Wealth Tax, Sales Tax, Income Tax or other taxation proceedings whether for Taxation initiated by any otherwise recovery or Authorities or local Authorities or pending whereby the rights of the said Society and/or the said Erstwhile Developer to deal with the Development Rights and/or the said Property are in any way affected or jeopardized. 9.1.15 There are no easementary rights created under any document or by any covenant or by prescription in

respect of and/or upon the said Property or any part . thereof.

Save and except the RHPL Loan, there are no 9.1.16 Encumbrances, mortgage, lien, charge, right or any other encumbrances or impediments on the said Property and/or Development Rights or any part thereof. 9.1.17 The said Property has proper right of way. 9.1.18 The said Society has paid all the taxes, charges, rents, rates, revenue and other outgoings etc. payable in respect of the said Property up to the date hereof. 9.1.19 The Erstwhile Developer shall alone bear and pay all the fees/charges of any Architect, Project Management Consultant (PMC), Mr. Nitin Naik of Right Project Management Consultants Pvt. Ltd., Structural Engineer and/or any other persons continued by it and/or appointed for and/or on behalf of the said Society till the 11^ floor completion as well as execution of this present. The New Developer shall be held liable and responsible to disburse the fees and other charges of such entities as appointed by the said New Developer and/or the said Society after execution of these presents.

The said Society and its 12 bona fide Members shall not be held liable for such payments to any such creditors, non-banking financial banks, financial institutions, institutions or any other legal entity in force by law, as the case may be, in any manner whatsoever in nature at any point of time.

AND WARRANTIES REPRESENTATIONS, 10:

ARTICLE COVENANTS The said Society represent, declare, confirm and warrant to the New Developer as follows:

The said Erstwhile Developer is entitled to the 10.1 Development Rights and save and except the RHFL Loan, the suit, dispute, litigation, enquiry.

same are free from any any other encumbrance mortgage, lien, charge, attachment or whatsoever;

Save and except the transfer and assignment of the Development Rights and all the rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements to the New Developer and the Sold Premises and the RHFL Loan, the said Erstwhile Developer has not entered and memorandum or allotment of made into any agreement or

unsold flats or writing for dealing with or for transfer or assignment of the Development Rights and/or any other rights, title, interest, benefits, advantages of the said Erstwhile Developer under the said Development Agreements with anyone. The said Development Agreements shall be forthwith 10.2 delivered by the said Erstwhile Developer to the New Developer. The 12 (twelve) original registered Permanent Alternative Accommodation Agreements (Individual_Agreements) of all the 12 bona fide Members shall be forthwith hand delivered by the said Erstwhile Developer to the respective 12 bona fide Members of the said Society;

10.3 Organization: Each of the Parties represents and warrants that it is duly organized and validly existing under bye laws of India.

10.4 Competence and Authority: Each of the Parties hereto represents and warrants that it is competent, is permitted by its respective constitutive corporate documents and/or or incorporation documents and/or Applicable Law to which such Party is respectively subject to, enter into this Agreement and bind itself hereunder and is not restrained, prevented or inhabited by any contract or arrangement to which it is a party from entering into this Agreement or undertaking the obligations

herein contained. Further, each of the Parties represents and warrants that it has the full power to execute, perform and deliver this Agreement and to consummate the transactions contemplated hereby. This Agreement and all such other agreements and written obligations entered into and undertaken in connection with the transactions contemplated hereby to which it is a Party constitute or will constitute following the execution and delivery thereof valid and legally binding obligations of such Party, enforceable against in the accordance with its respective terms.

this Agreement Authorization:

Each Party to 10.5 represents and warrants that its authorized signatory is duly authorized to execute this Agreement by the Party for and on whose behalf he/she/they is/are signing this Agreement in a manner binding upon the said Party and that all corporate approvals and procedures necessary for vesting such, authority Party hereto have been duly in the authorized signatory of a obtained and complied with.

Title: The title of the said Society to the said Property 10.6 and title, interests and rights of the said Erstwhile Developer to the Development Rights are clear, marketable and free from all and except RHFL Loan and the New encumbrances, save Developer is fully satisfied with the same.

10.7 Generally: The said Society and the said Erstwhile Developer acknowledge that the New Developer has entered into this Agreement in reliance upon, among other things, the warranties, representations and declarations made hereunder by the said Society and the said Erstwhile Developer as contained in this Agreement.

ARTICLE 11: OBLIGATIONS OF THE SAID ERSTWHILE DEVELOPER AND SOCIETY 11.1 The said Society shall at their own cost and risk observe, perform and comply with following terms, conditions and/or obligations:

11.1.1 Within 1 (one) month from the date hereof, the said Society shall:

11.1.1.2 execute and register all deeds, documents and writings including the four party Assignment of Development Agreement containing the same terms and conditions as contained herein, power of attorney etc. in favour of the New Developer; and shall handover the Original Documents between BMC and the said Society to the New Developer.

maintain the title of the said Property and 11.1.1.2 as clear marketable and free the Development Rights from all encumbrances and shall clear all defects in title, save and except the RHFL Loan, including claims by way of sale, exchange, mortgage, gift, trust. inheritance possession, lien or lease or otherwise, if any to the said Property and the Development Rights as defined herein.

11.1.2 The said Society shall comply with all the terms. conditions, undertakings, obligation etc. under the said Development Agreement, strictly within the time and in the manner stipulated therein.

11.1.3 The said Society shall remove, clear and settle all objections, claims, suit and/or proceedings made, received and/or filed, at any time hereafter, against or in respect of the said Property and/or Development Rights or any part thereof within 15 (fifteen) days from the date of making, receiving and/or filing of any such claim etc., save and except the RHFL Loan.

11.1.4 The said Society shall do, execute and/or perform and/or cause to be done, executed and/or performed all the

acts, deeds, matters and/or things etc. which are not specifically mentioned herein, but required and/or desired for assignment and transfer of the Development Rights in favour of the New Developer and completion of the transaction contemplated herein, within 15 (fifteen) days from the date of request being made in this regard, save and except the RHFL Loan.

11.1.5 The said Erstwhile Developer and the said Society shall extend all reasonable co-operation to the New Developer as may be required and/or desired by the New Developer to enable the New Developer to acquire the Development Rights in favour of the New Developer and complete the transaction contemplated herein, within 15 (fifteen) days from the date of request being made in this regard.

11.1.6 The said Society shall at the request and cost of the New Developer as and when called upon by the New Developer, sign and execute all such forms, declarations and documents for submitting the plans to or obtaining sanctioned plans from the BMC and other Governmental Authorities in respect of completion of the stalled development of the Said Property.

11.1.7 The said Society shall comply with all the provisions of the Maharashtra Co-operative Societies Act, 1960 and comply with all its statutory obligations there under and shall not do matter or thing in contravention to the any act, deed, provisions of the same. The Rules made, there under and its bye-laws or any acts of omission or commission which is prejudicial to the interest of the New Developer. LI. 1.8-In. case.any of the said_Existing Member transfers by sale, gift, exchange, lease or otherwise his/her existing flat. then such transaction shall be subject to the terms of this Agreement and the new transferee shall abide by this Agreement and shall sign and execute a Deed of Adherence in completing the before Developer favour New of the The said Society further undertakes not to transaction.

transfer such flat(s), in its records unless the new transferee first executes the Deed of Adherence with the New Developer and furnishes a copy to the New Developer.

11.1.9 The said Society agrees and undertakes to defend any proceedings which may be filed by or against the said Society or persons claiming through them by any Existing Member/s challenging, disputing or obstructing this Development Agreement diligently and would seek support from the New

Developer in all such proceedings together with the copies thereof without any delay, default or demure. 11.2 The said Erstwhile Developer and the said Society agree, undertake and covenant with the New Developer that the said Erstwhile Developer and the said Society shall not in any manner whatsoever:

11.2.1 enter into, any agreement, arrangement, commitment or understanding, etc., in respect of the Development Rights and/or said Property or any part thereof;

11.2.2 contract/ incur any liability or borrow any money or sign any hundi, bill of exchange or other negotiable instruments, in or on behalf of or in relation to the New Developer and/or in respect of or against the security of the said Property and/or the Development Rights and/or Sale Premises, or any part thereof;

11.2.3 give guarantee or indemnity by and/or on behalf of the New Developer and/or in relation to the said Property, buildings, Development Rights, and/or Sale Premises, or any part thereof;

11.2.4 obstruct, hinder or interfere with the completion of the stalled development and construction work carried out by the New Developer on the said Property and shall not permit or allow its said Members or any other person to do the same; 11.2.5 assign or transfer the benefit of this Agreement to any third party and 11-2.6 do or execute, or'cause'to be-done.or executed_an.y act, deed, matter or thing, which are contrary to the provisions and/or terms of this Agreement and/or whereby the rights and entitlement of the New Developer, are in any way prejudiced or jeopardized.

The said Erstwhile Developer does not have and shall 11.3 not have any right or claim etc. of any nature whatsoever against the said Society and/or the New Developer and/or against the said Property and/or the Development Rights or any part thereof.

ARTICLE 12; OBLIGATIONS OF THE NEW DEVELOPER The New Developer is aware that, as on date, a sum of 12.1 Rs.3,50,00,000/- is outstanding and payable in respect of the RHFL Ix)an, availed by the Erstwhile Developer from Reliance

Home Finance Ltd and as part of the arrangement of the assignment herein, the New Developer has agreed to take responsibility for the payment as per final closure on behalf of the erstwhile developers within the time as agreed under these presents.

12.2 The New Developer shall pay all the fees of the Architects and RCC Consultants appointed by it for the development of this project. The New Developer shall pay all the LUC Charges, Development Charges, Property Tax, Betterment Charges, Water Charges, Electricity Charges, Deposits, Fines, Penalties, Contractor payment in connection with or relating to the re-development to be carried out on the said property and shall also pay the N.A. Taxes, lease rent and such other taxes and outgoings in respect of the said Property till the date of all the said Existing bona fide Members are put in possession of their flats in the New Building/s.

12.3 The New Developer shall in the course of erection and completion of the stalled said New Building do all lawful acts and things required by and perform the works in conformity in all respects with the provisions of the statutes applicable there to and with the bye-laws and the rules and regulations of the Corporation, D. C. Regulations and the rules and Regulations of any other public body or local authority or authorities having

jurisdiction to regulate the same and shall throughout save harmless and keep the said Society indemnified of, from and against all claims for the fees, charges, other payments whatsoever which during the progress of the work may become payable or be demanded by the said authorities in respect of the said work or anything done or caused to be done under the authority herein contained and shall generally and from time to time discharge and pay as all municipal taxes and other duties at any time hereafter chargeable against: the said Society on occupier by statutes or otherwise relating to the said development being carried out by the said Erstwhile Developer on the said property as and when they shall become due and/or payable and shall keep the said Society indemnified of, from and against the payment thereof.

The New Developer shall pay taxes, cesses, dues, 12.4 duties, charges and outgoings relating to completion of the stalled development work being done by the New Developer on said Property.

Completion of the stalled development work shall be 12.5 own costs and expenses.

carried on by the New Developer at its It shall bear and pay bills of suppliers of building material. wages and salaries payable to workmen and other persons employed for purpose of carrying out construction work as also

other costs, charges and expenses that may be incurred in regard to development work. The New Developer shall also save harmless and indemnify and keep indemnified the said Society against any claim that may be made by anyone against the said Society on account of the New Developer carrying out and completing the said stalled development work. 12.6 The New Developer shall not in any manner create any lien, charge, mortgage or encumbrance on the said. Members' New Premises, while carrying out the development on the said property. Provided however that the New Developer shall be entitled to and be at liberty to create lien, charge, mortgage or encumbrance with the remaining Sale Premises. ARTICLE 13; DEFECTS LIABILITY PERIOD:

13.1 The Defect liability period shall be valid for a period of 5 (five) years from the date of obtaining the Occupation Certificate by the New Developer and handing over quiet, vacant and peaceful possession of the newly constructed flats to all the existing 12 Members in accordance with the MahaRERA. During these 5 years, the New Developer shall be responsible to make good and remedy at its own expenses during the Defect Liability Period, any defects including structural, leakages, water proofing, etc., which may develop or be noticed before the expiry

of the said period from society certified date of completion. The Defect Liability Period will end if any significant or major changes such as beams, columns, load-bearing structures are interior, without the prior done in the building structural or written approval of the New Developer. If the New Developer finds any such structural changes then it will serve a written notice to the said Society stating that Defect Liability Period is over.

13.2 The New Developer shall pass on the warranty to the said Society in case of items where its suppliers provide the warranty as may be provided by such suppliers, vendors etc. ARTICLE 14: PERFORMANCE WARRANTY:

The New Developer will be required to execute Performance Warranty for the works of Water Tanks, Terraces, Chajjas, Flooring, Wiring, Plumbing and Anti-Termite Treatment. This warranty would remain in force for one years after obtaining Occupation Certificate. However, it is expressly agreed that in the event any Member carries out any structural changes/ interior changes or any damage to his/ her structure, the Performance Warranty shall cease to exist from that day. ARTICLE 15: INDEMNITY

The said Society and the said Erstwhile Developer have made certain representations, assurances declarations, covenants and warranties as set forth in this Agreement including the Schedules hereof which the said Society and the said Erstwhile Developer state are correct and true as on the date hereof and shall remain true till the completion of the construction of the New Building/s and sell of the Sale Premises, and the New Developer has agreed to redevelop the said- Property -in the manner as contemplated hereby and is executing this Agreement and the said Society and the Erstwhile Developers hereby agree to indemnify and keep indemnified the New Developer from and against all and any damage or loss that may be caused to the New Developer including inter-alia against and in respect of all actions, demands, suits, proceedings, penalties, impositions.

that may be caused to or incurred, sustained or suffered by the New Developer allottee/s nominee/s by virtue of any of the aforesaid representations, assurances, declarations, covenants and warranties made by the said Society and the said Erstwhile Developer being untrue.

ARTICLE 16:

LOGO/ BANNER RIGHTS AND JOINT MEASUREMENT

The New Developer shall be entitled to put up such 16.1 logos, banners and/or fencing of its entity alone on a permanent basis without damaging the structure of the building in any manner whatsoever in nature. It is further agreed that all the costs, charges and expenses for the maintenance, electricity supply, charges of statutory/ non-statutory bodies, if any, shall be exclusively borne by the New Developer. The Society shall not any manner whatsoever in be responsible for the same in nature.

The New Developer shall be entitled to affix its logo and 16.2 neon signs/signboards with the New Developer's Building/s for the purpose of indicating to the general public that the New Building/s has been constructed/developed by the New Developer.

ARTICLE 17: ACTIONS ON DEFAULT AND CONSEQUENCES It is agreed between the parties that in the event of the 17.1 Parties failing or being unable to fulfil its terms, conditions and perform/ non obligations mentioned in this Agreement or performance any of its commitments, duties or obligations, then in such event, the Parties shall be entitled to issue written notice to the parties stating the default and requiring its cure. Within 2 (two) weeks of receipt of the notice, the defaulting party shall

submit in sufficient detail, the manner in which it proposes to cure the underlying event of default. In case of non-submission of the proposal to rectify within the said period of 2 (two) weeks, the Parties shall be entitled to take all necessary actions as required or appropriate for rectifying such breach and/or for specific performance of this Agreement. In case the difference is not settled within 2 (two) weeks, the said Society or any of its Members or the said Erstwhile Developer or the New Developer be entitled to refer the said dispute to arbitration in accordance with the Arbitration and Conciliation Act, 1996. 17.2 All such disputes that have not been satisfactorily resolved, shall be referred to arbitration before a Sole Arbitrator to be jointly appointed by the Parties.

17.3 The Arbitration proceedings shall be carried out in of the Arbitration accordance with the provisions and Conciliation Act, 1996 and all statutory enactments and modifications thereof.

17.4 The place of Arbitration shall be Mumbai.

The Arbitration proceedings shall be conducted in English language.

The parties shall equally share the costs of the 17.5 Arbitrator's fees, but shall bear the costs of their own legal counsel engaged for the purposes of the arbitration. The Award of the Arbitral Tribunal shall be valid, final, 17.6 conclusive, binding and enforceable upon the Parties. Agreed and clarified that the provisions of this Clause 17.7 shaU-not-be applicable in case of inter se dispute between the said Society and the existing Members and shall only be applicable in case of a dispute between the said Society, any of the said Members, the Erstwhile Developer and the New Developer, as provided herein.

ARTICLE 18; PAYMENTS AND OTHER OUTGOINGS Each Party shall be responsible/liable for their 18.1 respective individual commercial dealings or income tax, sales tax and any other liabilities of direct and/or indirect taxes. The stamp duty and registration charges on this 18.2 Agreement shall be borne exclusively by the New Developer. ARTICLE 19; ASSIGNMENT AND PROJECT FINANCE

The Parties agree and undertake that the New 19.1 Developer shall have all the rights and shall be entitled to assign, encumber and/or transfer the benefits of this Agreement to any person or persons, subject to the rights of the Society, its Members and the Erstwhile Developers under these presents. Further, project finance from Banks/ Financial Institutions/ Private Funding and/or Private Equity can be brought by the New Developer against the New Developer's rights under this Agreement, or otherwise, without and/or consent any concurrence of the said Society and/or the said Erstwhile Developer. The New Developer shall intimate to the said Society. 19.2 The New Developer shall have all the rights and shall be entitled to mortgage the said Property, the Development Rights, the Sale Premises and all the rights, title, interest.

benefits and advantages of this Agreement, save and except 12 (twelve) Members' New Premises to be allotted to the said Existing Members, to any person or persons including any and all banks, NBFC and financial institutions and/or borrow money from them or any of them, without any consent and/or concurrence of the said Society and/or the said Erstwhile Developer.

The said Society shall sign all documents, deeds, no 19.3 objections, approvals, permissions, etc. and shall extend all

cooperation to enable the New Developer to perforin all its obligations under this Agreement or otherwise and also to enable the New Developer to mortgage the said Property, the Development Rights, the Sale Premises and all the rights, title, interest, benefits and advantages of this Agreement, save and except 12 (twelve) Members' New Premises to be allotted to the said existing Members, to any person or persons including any and all banks, NBFC and financial institutions and/or borrow moneyfrom them-or..any of .them.

ARTICLE 20: LIQUIDATED DAMAGES;

20.1 If the New Developer also fails to complete the stalled redevelopment work in all respects and hand over the duly completed New Building (along with full O.C.) to the said Society within the time stipulated as mentioned herein, i.e. within a period of 18 months from the date of signing, execution and registration of Deed of Assignment along with the full Occupation Certificate (full O.C.), subject to the Force Majeure Clause, in case the default continues for more than 18 after receipt of a written notice in that regard from the said Society, the New Developer shall pay to the said Society, liquidated Rs.5,00,000/- damages (LDs)/ penalty for such default, (Rupees Five Lakhs Only) per month of default or any part thereof till the New Developer obtains the full O.C. along with all

the amenities agreed upon under this Agreement. In the event, the New Developer satisfies that the delay is beyond the control of the New Developer, the New Developer shall not be liable to pay the liquidated damages in any manner whatsoever in nature.

20.2 The imposition of and/or demand for such Liquidated Damages shall not relieve/ discharge the New Developer from its duties and obligations to complete the stalled re-development work or from any other obligations and/or liabilities under this revised agreement/s as executed between the Parties, in respect of completion of the said stalled re-development project. ARTCLE 21: TERRACE & REFUGEE AREA The entire Terrace and Refugee Area of the New Building shall belong to the said Society and neither the Erstwhile Developer nor the New Developer shall deal with the same, with anyone in any manner. There shall be no construction (such as office,- gymnasium, pool, deck, walking track or any other such structure) on the top common terrace of New Building except the construction of overhead water tank and machine room. However, the New Developer shall sell the Pocket Terraces, if any, which are appurtenant to the flats forming part of the New

Developer's Sale Component as permissible under the law, if the New Developer may deem fit and proper under the law. SECURITY CABIN & SOCIETY OFFICE, ARTCLE 22:

GYMNASIUM The New Developer shall provide, at its own costs and expenses, a Security Cabin and a Gymnasium in the a Society Office, newly constructed building as per the sanctioned/ approved plans by the BMC.

ARTCLE 23: TERMINATION BY THE SAID SOCIETY (A) The said Society without prejudice to any other rights or remedies shall be entitled to terminate/ cancel/ revoke the said Developer's engagement herein as well this present Agreement and other ancillary and incidental documents, after giving 30 (thirty) days' Notice to the said Developer for rectifying the cause (provided that such notice shall not be given unreasonably), if any of the following conditions (breach, violation, default/s) arise;

a. Suspension of the work for a period of consecutive 6 (six) months after obtaining Commencement Certificate from BMC without any justified reasonable cause;

b. Failure to replace defective materials and work after giving due notice;

c. Repeated failure to adhere to specifications and methodology mentioned in the contract;

d. In the event the said Developer is adjudged bankrupt/ insolvent;

e. Sub-letting/ sub-contracting this present agreement or any of its obligations, rights or entitlements hereunder, to any third prior written without procuring party.

the approval/ permission/ sanction of the Special General Body of the said Society.

f. The said Developer makes any arrangement with its Creditors/ Lenders for its dues or Developer is put under supervision of Creditors/ Lenders.

g. Any other material event that may affect the execution of the work herein agreed by the said Developer.

h. Failure to complete the construction activities and obtain Occupation Certificate within a period of 12 (twelve) + 3 (three)

months from the date of signing, execution and registration of this presents.

Monthly Displacement Compensation pay i. Failure to consecutively for 3 (three) months or failure to pay any other benefits within the period as stipulated hereinabove to the said Members as mentioned herein.

j. Failure to pay any amounts/ fees/ charges for obtaining sanctions from various various permissions, approvals or statutory authorities for the purpose of re-development project of the said Society.

k. Failure to pay any taxes, cess, charges or liabilities to any statutory authorities from the date of from the date of signing. execution and registration of this presents till the date of obtaining full. O.C. and handing over the quiet, vacant and peaceful possession of the newly constructed flats to the 12 existing bona fide Members of the said Society. (B) Post-termination:

i.The said parties will act strictly in accordance with whatever has been stated in this present Agreement.

ii.In the event of termination, the said Developer shall quit the site of the said Property and remove its materials within the notice period of 30 (thirty) days given by the said Society. iii.After the termination, the said Society will take possession of the premises with ail buildings.

plants.

temporary machinery, appliance, goods and the materials that were intended for the completion of the work.

Thereafter the said Society may finish the work by whatever method they may deem fit and proper under the law. ARTICLE 24 LIBERTY FOR MODIFICATION:

Agreed that notwithstanding anything stated or provided herein, the parties hereto shall have full power and discretion to modify, alter or vary the terms and condition of this Agreement for development in any manner whatsoever as the parties herein may deem fit, by mutual Agreement in writing. Any such changes/ s the event of the same being recorded and/or reduced to writings amendments/ modifications shall be binding on the parties only in between the said Society and the Developers by supplementary agreement, addendum, any other agreements, deeds, documents and writings, etc and the same being signed by the Developers and

the said Society herein and there upon the said writing shall become appendage and part of this Agreement.

ARTICLE 25 NOTICES:

other communication of like nature that may be Any notice or given by one party to other shall always be in writing and shall be or to be sent by served by hand delivery duly acknowledged Registered post with acknowledgement due or by hand delivery at or at such other the respective addresses mentioned herein one party to the address as may be subsequently intimated by other in writing. Any such communication shall be deemed to have after expiry of 14 days been served when sent by registered post or of receiving through E-mails.

sahparishram@gmail.com"

The said Society's Email for the purpose is " is the for Email Developers purpose Erstwhile The "pinakinrughani@gmail.com"

is the for Email Developers purpose The New "mitesh@surbhiconstruction.in"

SCHEDULE ALL THAT piece and parcel of land bearing C.T.S. No.583, admeasuring about 690.69 sq. mtrs.

or thereabout of Village Mulund (East), Taluka - Kurla, Mumbai District of Greater Mumbai in the district and registration sub-district of Mumbai City and Mumbai Suburban, together with the building standing thereon and bounded as follows that is to say: On or towards North :

On or towards East:

On or towards West:

On or towards South :

IN WITNESS WHEREOF the parties hereto have executed this assignment agreement on this day of 2024.

SIGNED AND DELIVERED by the within named "Society" SAH PARISHRAM "AMRAPALI"

CO-OPERATIVE HOUSING SOCIETY LIMITED,

Pursuant to a resolution passed at the Special General Body Meeting held on 5^ July, 2024 by the hands of :

1) Mr. Amol Vijay Sawant, Hon. Secretary

2) Mr. Shrikant Bhalchandra Wagh, Hon. Chairman

3) Mr. Sushil Shripat Chavan, Hon. Treasurer

in the presence of:

SIGNED AND DELIVERED by the within named "Members" as follows:

(1) Sanjay A. Aher

(2) Shrikant B. Wagh

(3) Mangala S. Vaze

(4) -RaneniA. ChatterjeeKadambari R. Chatterjee

(5) Kadambari R. Chatterjee (6) Archana D. Phadke (7) Amit S. Khair r

Vijay P. Haria (8) Jemini Vijay Haria Vaibhav V. Joshi (9) It

(10) Sushil S. Chavan Maya- Sushil Chavan

(11) Gopichand A. Margaj

(12) Janhavi A. Sawant Amol V. Sawant J SIGNED AND DELIVERED by the within named "Erstwhile Developer"

M/S. RAGHUVANSHI DEVELOPERS through (1) Mr. Tribhuvandas M. Rughani

(2) Mr. Pinakin T. Rughani

(3) Mr. Mitesh Shah in the presence of:

SIGNED AND DELIVERED by the within named "New Developer"

M/S. SURBHI CONSTRUCTION through its Sole Proprietor, Mr. Mitesh Shah in the presence of:

**************************************************** DATED THIS DAY OF **************************************************** RE: ALL THAT piece and parcel of land bearing C.T.S. No.583, admeasuring about 690.69 sq. mtrs. or thereabout of Village Mulund (East), Taluka -* Kurla, Mumbai District of Greater Mumbai in the district ^0^ registration sub-district of Mumbai City and Mumbai Suburban, together with the building standing thereon.

**************************************************** DEED OF ASSIGNMENT BETWEEN:

SAH PARISHRAM CHS LTD., ALL 12 MEMBERS OF SOCIETY M/S. SHREE RAGHUVANSHIA DEVELOPERS AND M/S. SURBHI CONSTRUCTION **************************************************** M/S. CHITNIS & CO.

Advocates Unit No. 9, 2nd Floor, Jeevan Vihar Building, 75, Alkesh Dinesh Modi Marg, (Mumbai Samachar Marg), Opp. Union Bank of India, Fort, Mumbai - 400 001.

Email ID: chitnis.co@gmail.com (M): 9820185821/9820101951/9987094591 (O): 022-22626332/022-20826332

> SURBHI CONSTRUCTIBN Ew^P ^^1 SURBHI Corp Offc: 102, J/Wing Nisarg Heaven CHS. Mahavir Nagar. Kandivali (W). Mumbai - 67 f-XHTBir-'c ' , Redefining Urban Lifestyle To, Date: 03/07/2024 «> The Secretary/Chairman.- SAH PARISHRAM CHSL, 2, "Amrapali", 90 Feet Road, Mulund (East), Mumbai - 400 081 Sub: Submission of our offer for redevelopment of your Society building. Dear SIr/Madam, We hereby are giving you our offer for your information: 1} The Calculation of the project we did is as per-any scheme under the New DCPR 2034 issued by M.C.G.M Rules & regulation.

2) There is nol&ny encroachment on site & if it their society will help us to remove that.

3) The loan availed by SHREE RAGHUVANSHI DEVELOPERS from Reliance Home Finance Ltd. (RHFL) will be paid by us within 5 months from the date of execution and registration of Assignment Deed.

4) The sum of Rs.1,92,33,280/- for alleviating hardship of the said Society towards the rent unpaid shall be paid by us in various tranches as mentioned in table below: Pending Rent to be paid J Amount (In-Rs.) ;

Time.of ■Payout to Indjyidual Members_____ .

At the time of executing Consent Term_________ At the time of executing Assignment Agreement 4th month after executing Assignment Agreement 7 Month's Rent 7 Month's Rent 4 Month's Rent 13,98,784/ 13,98,784/ 13,98,784/ 13,98,784/ 13,^/784/ Sth month after executing Assignment Agreement 4 Month's Rent >- ,^h month after executing Assignment Agreement 4 Month's Rent month after executing Assignment Agreement 8th month after executing Assignment Agreement 9th month after executing Assignment Agreement 10th month after executing Assignment Agreement 11th month after executing Assignment Agreement 4 Month's Rent 4 Month's Rent 4 Month's Rent 4 Month's Rent 13,98,784/ ^13,98,784/ 13,98,784/ 13,98,784/ 4 Month's Rent 12th month after executing Assignment Agreement 4 Month's Rent 13th month after executing Assignment Agreement Balance Rent 17,48,480/ 1,9233,280/- Total (SBHsa

SURBHI CONSTRUCTION SURBHI Corp Offc: 102. J/Wing Nisarg Heaven CHS. Mahavir Nagar. Kandivali Mumbai - 61 Redefining Urban Lifestyle 5} We shall commence paying the Monthly Rental Con^pensation of Rs.52/- (Rupees Fifty Two Only) psf. to each and every residential and Rs.94 (Rupees Ninety Four Only) psf. to each and every commercial member from the date of execution and^ ' registration of Assignment Deed.

6) We shall be put in possession of the respective Members New Premises allotted to them within 18 (eighteen) months from the date of signing, execution and registration Assignment Deed along with the full Occupation Certificate (full O.C.) from the BMC.

7) We shall be bound by the aforesaid 8 (eight) Agreements for Sale registered as per details provided by you, please note no other liability of any third-party including Contractors, Vendors, suppliers or any other person who has dealt with SHREE RAQHUVANSHI DEVELOPERS will be bounding on us and we shall not be liable for such claims.

8) We will abide by all the terms and conditions as mentioned in all the earlier Development Agreement along with Permanent Alternative Accommodation Agreement executed for the amenities.

We will assure you to give you our best to satisfy your all requirement, give our chance to satisfy your dream.

Whatever the query in offer & request you to before finalization to any give one chance to us.

Thanking you.

TRUE COPY > Yours truly, Q.

ft^'Partner M/S. CHITNIS & CO Advocates for the..fteaM9irt«x;'

FOR SURBHI CONSTRUCTION PROPRIETOR rgg

\MTWr ViVfr* W* 'H't'bK 5i7Tt^/ Enrollment No 1067/18903/02988 To, J?f|ebirF _ - ■ Shrikant Bhalchandra Wagh 803, Floor 8Ui ,B Wing Sai Regency CHS LTD 5 Bhoir Nagar, Vidyalay Marg Opp Sambhaji Park Mumbai Mulund East Mumbai Mumbai Maharashtra 400081 9821160458 n Ci S Ref: 15/050/ 10412/10920/P llliyilllHIIIIIIBIliilllllHI^^^^ SE038589516FT 3TPW 3WR Your z^adhaar No.:

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• "orrmrr 'ii'e »<*n Kd gag^Gbyefrirr^nfefjln^ia^^ Enrollment No 1325/30018/01126 To, V Pinakin Rughani '

S/0: Tribhuvandas Rughani -i ■■^ 5 11, Shreeji Palace r^'" ■■■■ Parekh Lane, S. V. Road Opp. ICJCt Bank Kanpivali Wes?

Wufnbat Kandivali West Mumbai Mumbai Maharashtra 400067 9892942458 1.

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R1 aiTWiT tbqi?: I Enrollment No 1218/17754/03927 To, f^sr PppTTf &rT7 Mitesh Bhikhubhai Shah DEEPAK MAHAL, FLAT NO 12 :: SHIMPOLI ROAD NO 1 8 OPP DWARKA HOTEL % o Borivali West Borivalt West Mumbai Maharashtra 400092 9820821409 CM Ref: 37/10E/ 72276/ 73815 /P iiiiiniiiniiiiiiiiiii UE435923576IH WW 'SWT ^5W / Your Aadhaar No.:

34441716 2673 <3WT - ------------ f^TKST BnflTTf »rT^ Mitesh Bhikhubhai Shah 7^ Year of Binh : 1973 ! Male Eift^ 3TOR - HNiywf 'Sfl^raijr 34441716 2673 _«W9HT** I

SHREE RAGHUVANSHI DEVELOPER LAND DEVELOPERS- "HANSA HERITAGE" 2nd Floor, Mathuradas Road, Kandivali (West), Mumbai - 400 067. Tel.: 022-2801 8462 1 Email : pinakinrughani@gmail.com TO WHOMSOEVER IT MAY CONCERN We authorize our Partner Mr. Pinakin T. Rughani. to represent, appear, sign, execute Consent Terms/Minutes of the Order in the Arbitration Application (L) No.915 of 2024 read with Arbitration Petition (L) No.916 of 2024 in the Hon'ble Bombay High Court wherein the Sah Parishram CHSL (Society) is the Petitioner, we are the Respondent No.1 and the New Developer (Surbhi Constructions) is the Respondent No.2, which is added as the Respondent No.2 by virtue of the Draft Amendment carried out in the Hon'ble Bombay High Court in the cause title of the Arbitration Application (L) No.915 of 2024 read with Arbitration Petition (L) No.916 of 2024.

This authority is for the limited purpose of filing of the consent terms/minutes of the order in the aforementioned petitions.

Dated this 15^^ day of July 2024 For, Shree Raghuvanshi Developers

IN THE HIGH COURT OF JUDICATURE

AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.

4.0^ OF 2024 Sah Parishram CHS Ltd.

...Petitioner

Versus

Shree Raghuvanshi Developers & Anr.

...Respondents

CONSENT TERMS BETWI^N THE PETITIONER AND THE RESPONDENTS ABOVENAMED Dated this 16^*^ day of July, 2024