SHOP, SHOWROOM OR BOOTH RENT AGREEMENT
This Agreement is made at Ludhiana on 1 April 2026.
BETWEEN
Harjit Singh Bhatia, an individual, with address at House No. 442, Sector 33-B, Chandigarh 160020, PAN X (the "Landlord", which expression includes its successors and permitted assigns);
AND
Trident Retail Ventures Private Limited, an individual, with address at B-XX-1204, Civil Lines, Ludhiana 141001, PAN X (the "Tenant", which expression includes its successors and permitted assigns).
The Landlord and the Tenant are together the "Parties" and each a "Party".
BACKGROUND
A. The Landlord is the owner of, or is otherwise lawfully entitled to let, the retail premises described in Clause 1 (the "Premises").
B. The Tenant wishes to take the Premises on rent in order to carry on the retail trade described in Clause 3.
C. The Parties have agreed to record the terms of the letting in this Agreement.
IT IS AGREED AS FOLLOWS.
- THE PREMISES
1.1 The Landlord lets to the Tenant, and the Tenant takes on rent, the Premises, being an independent shop with direct street frontage admeasuring 612 sq ft carpet area, situated at SCO 118-119, Ground Floor, Sector 17-C, Chandigarh 160017, in the State of Punjab.
1.2 The letting includes the shopfront, the shutter, the sanitary and electrical installations existing in the Premises on the date of handover, and the right for the Tenant, its staff, its customers and its suppliers to reach the Premises through the common entrances, corridors and passages of the building during the trading hours stated in Clause 7. The Tenant, its staff and its contractors may also reach the Premises through those common entrances and passages at reasonable hours outside trading hours for deliveries, stock movement, fit-out, refurbishment, stock-taking, repairs and security, subject to the building's security arrangements.
1.3 On handover the Parties shall sign a joint inventory recording the condition of the Premises, the meter readings, the sanctioned electrical load and the fittings handed over (the "Handover Inventory"), in the form of Annexure A. That inventory is the reference point for the condition in which the Premises must be returned.
1.4 This Agreement creates a lease of the Premises within the meaning of section 105 of the Transfer of Property Act, 1882. The Tenant is entitled to exclusive possession of the Premises for the Term, subject to the Landlord's rights of entry under Clause 12.
1.5 The Landlord shall give the Tenant vacant possession of the Premises and sign the Handover Inventory on the Commencement Date, and the date on which vacant possession of the Premises is actually given to the Tenant is the "Handover Date". If the Handover Date is later than the Commencement Date for any reason not attributable to the Tenant, then (a) no Rent, common area maintenance charge, utility charge or other outgoing under this Agreement shall accrue before the Handover Date; (b) any rent-free period under Clause 5 shall run from the Handover Date; (c) the Term, and every anniversary date under this Agreement including each anniversary of the Commencement Date referred to in Clause 5.3, shall be computed from the Handover Date; and (d) if the Handover Date has not occurred within sixty (60) days after the Commencement Date, the Tenant may end this Agreement by written notice, whereupon the Landlord shall refund the security deposit in full within fifteen (15) days of that notice, with interest at twelve per cent (12%) per annum on any amount not refunded within those fifteen days from their expiry until payment, and neither Party shall have any further claim against the other.
Landlord's works — Before handover the Landlord shall complete the following works at its own cost: Rolling shutter, three-phase electricity connection with 15 kW sanctioned load, water point and a levelled cement floor. The Handover Date does not occur until those works are complete and vacant possession of the Premises has been given.
- THE RENT LAW GOVERNING THIS LETTING
2.1 The Premises are non-residential premises situated in an urban area within the meaning of section 2(o) of the Punjab Rent Act, 1995 (Punjab Act 13 of 2012), which came into force on 30 November 2013, and were not let out before that date; and either the construction of the building of which the Premises form part was completed before 30 November 2013, or, the construction having been completed on or after that date, more than fifteen years have since elapsed from the date of completion of construction, so that the exclusion in clause (c) of sub-section (1) of section 3 of that Act does not apply to the Premises. Section 3(2) of that Act permits contract renting of non-residential premises and provides that during the subsisting contract period such premises are governed by the contract and that litigation under any other law shall not be permissible. The Parties agree that this Agreement is that contract and that it records the whole of the bargain between them as to the Premises. The Parties further record the consequences that section 3(2) attaches to a breach: a tenant in breach is liable to pay double the rent for the period in question, in addition to immediate dispossession through the Rent Authority, and a landlord in breach forfeits the rent for the period of the violation.
Date of completion of construction — The construction of the building of which the Premises form part was completed on 2 April 2026. That date is stated on the footing of Explanation I to sub-section (1) of section 3 of the Punjab Rent Act, 1995, under which completion of construction is dated from the intimation of completion given to the concerned authority or from the assessment of the building to property tax, whichever is earlier; and the Parties note Explanation II to that sub-section, by which the rebuilding of more than seventy-five per cent of a building and additional construction to a building each count as construction and each carry their own date. The Landlord shall produce to the Tenant the completion or occupation certificate, or the first assessment to property tax, evidencing that date within seven (7) days of being asked in writing, and warrants that the date stated in this paragraph is the date those papers show. The statement in Clause 2.1 as to whether the Punjab Rent Act, 1995 applies to the Premises is made by reference to that date.
2.2 Where the rent law recited in Clause 2.1 confers on a Rent Controller, a Rent Authority or another authority exclusive jurisdiction over the recovery of possession of the Premises, nothing in this Agreement displaces or ousts that jurisdiction, and Clauses 17.2 to 17.4 take effect subject to Clause 17.5. Where Clause 2.1 records instead that no rent statute applies to the Premises, there is no Rent Controller and no Rent Authority having jurisdiction over the Premises, nothing in this Agreement is to be read as submitting any matter to either, and possession, mesne profits and arrears are recovered by suit before the civil court at Ludhiana in accordance with Clauses 17.2 to 17.4.
- PERMITTED USE, TRADE AND LICENCES
3.1 The Tenant shall use the Premises only for retail sale of readymade garments, footwear and fashion accessories, and for no other purpose. The Tenant shall not use the Premises for residence, for the storage or sale of hazardous, prohibited or contraband goods, or for any unlawful or immoral purpose. Where the Premises form part of a Shop-cum-Flat, this Agreement lets the shop portion only, and the residential portion of that building forms no part of the Premises and is not let by this Agreement.
3.2 The Tenant shall not change the trade carried on at the Premises, or add a materially different range of goods or services, without the Landlord's prior written consent.
3.3 The Tenant shall obtain and keep in force at its own cost, in its own name, the registration of the establishment under the Punjab Shops and Commercial Establishments Act, 1958 as in force in the State of Punjab, the trade or health licence of the municipal body having jurisdiction, its registration under the goods and services tax law where that law requires one, any signage or hoarding licence, any food business licence needed for its trade, the registration of its weighing and measuring instruments where its trade uses them, and every other registration or licence required to trade lawfully from the Premises. The Landlord shall sign the no-objection letters in the form the licensing authority prescribes and give the Tenant copies of the ownership, allotment, tax and building documents the Tenant reasonably needs for those applications, within seven (7) days of being asked.
3.4 The Landlord is responsible for the lawful approval of the building for commercial use, for its occupancy or completion certificate and for the fire safety clearance of the building itself. The Tenant is responsible for the fire safety of its own fit-out, its stock and the way it uses the Premises, shall install and maintain the fire-fighting equipment the law requires inside the Premises, and shall keep the fire exits, common passages and the shopfront clear.
3.5 Where an order in force under section 163 of the Bharatiya Nagarik Suraksha Sanhita, 2023 in the district in which the Premises are situated requires the particulars of a tenant or occupier of premises to be reported to the police, the Tenant shall give the Landlord the identification and business particulars needed for that report within seven (7) days of the Handover Date, and shall inform the Landlord in writing of any change in those particulars within seven (7) days of the change; the Landlord shall make the report to the police station in whose area the Premises fall. Failure to comply with such an order is punishable under section 223 of the Bharatiya Nyaya Sanhita, 2023.
3.6 Neither Party shall do anything at the Premises that puts the other Party in breach of any licence, or that renders any insurance on the building void or voidable.
- TERM
4.1 This Agreement is for a term beginning on 4 April 2026 (the "Commencement Date") and expiring on 5 April 2026, both dates inclusive, subject to Clause 1.5 and unless ended earlier under Clause 13 (the "Term"). The length of the Term is the interval between those two dates, and no other statement of length made anywhere qualifies them.
4.2 The Term ends on expiry of that period without the need for any notice, and the Tenant shall hand back the Premises in accordance with Clause 14.
4.3 The Tenant may renew this Agreement for one further term of the same length, on the same terms except that the Rent at renewal shall be the Rent last payable increased by ten per cent (10%), by giving written notice not less than three (3) months before the Term expires. On valid exercise of this option the Parties shall execute a fresh lease deed for the renewed term on the terms of this Agreement, save as to rent, and shall stamp that deed and, where section 17(1)(d) of the Registration Act, 1908 requires it, register it before the renewed term begins; where registration is required the renewed term takes effect only on registration, and the Party who bore the cost under Clause 18.1 shall bear it again.