BANQUET HALL OR MARRIAGE PALACE LEASE DEED
This Banquet Hall or Marriage Palace Lease Deed (this "Deed") is made at Chandigarh on 1 April 2026.
BETWEEN
Sethi Estates Private Limited, an individual, of House No. 1204, Sector 33-C, Chandigarh 160020, PAN AABCS1234K, acting through Harpreet Kaur Sethi, Director, authorised by board resolution dated 4 March 2026 (the "Lessor", which expression includes its successors in interest and permitted assigns);
AND
Nair Healthcare Private Limited, an individual, of Plot No. 8, Phase 8-B, Industrial Area, S.A.S. Nagar (Mohali) 160055, PAN AAECN5678L, acting through Rohit Nair, Director, authorised by board resolution dated 6 March 2026 (the "Lessee", which expression includes its successors in interest and permitted assigns).
The Lessor and the Lessee are each a "Party" and together the "Parties".
RECITALS
A. The premises described in Schedule I are referred to in this Deed as the "Premises". The Premises are situated at Chandigarh, in Punjab. The Lessor is the absolute owner of the Premises.
Co-ownership: The Premises are owned jointly. The other co-owners are: X. Every co-owner is a Lessor under this Deed, the expression "Lessor" includes each of them, each of them must sign this Deed in person or through an attorney whose power of attorney is registered or authenticated under s.33 of the Registration Act, 1908, and each is bound by and entitled under it.
B. The Lessee wishes to take the whole of the Premises on lease to run a banquet hall or marriage palace, and the Lessor has agreed to grant a lease on the terms set out below.
C. The Parties intend this Deed to create a lease within the meaning of s.105 of the Transfer of Property Act, 1882, transferring to the Lessee the right to exclusive possession of the Premises for the Term, and not a licence.
D. The Term of this lease exceeds one year and reserves a yearly rent. The Parties accordingly execute this Deed as a registered instrument, as s.107 of the Transfer of Property Act, 1882 requires, and shall have it registered under s.17(1)(d) of the Registration Act, 1908.
NOW THIS DEED WITNESSES as follows.
- 1. DEFINITIONS
1.1 "Commencement Date" means 2 April 2026. "Term" means the period stated in clause 2.1. "Rent" means the monthly rent stated in clause 3.1, as escalated under clause 3.4. "Security Deposit" means the deposit stated in clause 4.1.
1.2 References to a statute are to that statute as amended or re-enacted, and include a statute as extended to the place where the Premises are situated. Headings do not affect interpretation. The singular includes the plural.
- 2. GRANT AND TERM
2.1 The Lessor grants to the Lessee, and the Lessee takes, a lease of the Premises for a term of 9 years commencing on 2 April 2026 and expiring on 3 April 2026 (the "Term"), with the right to exclusive possession of the Premises for the Term, subject to this Deed.