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.
- 1. 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.