SUB-LEASE / SUB-LICENCE AGREEMENT
This Sub-Lease / Sub-Licence Agreement (this "Deed") is made at S.A.S. Nagar (Mohali) on 3 April 2026.
BETWEEN
Northline Analytics 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 4 March 2026 (the "Sub-Lessor", which expression includes its successors in interest and permitted assigns);
AND
Coral Peak Consulting LLP, an individual, of SCO 41, Sector 26, Chandigarh 160019, PAN AAJFC4321M, acting through Priya Menon, Designated Partner, authorised by the LLP agreement (the "Sub-Lessee", which expression includes its successors in interest and permitted assigns).
The Sub-Lessor and the Sub-Lessee are each a "Party" and together the "Parties".
RECITALS
A. The Sub-Lessor holds the premises described in clause 4.2 under a head lease from Lease Deed dated 12 June 2021 between Bestech Business Towers Private Limited ("Head Landlord") and Northline Analytics Private Limited, registered as document no. 4412 in Book No. 1, Volume No. 2661 at pages 41-58 in the office of the Sub-Registrar, S.A.S. Nagar (Mohali), for a term of ten years from 12 June 2021 over Unit 305, Third Floor, Tower B, Bestech Business Towers, Sector 66, S.A.S. Nagar (Mohali) (the "Head Landlord"), particulars of which are: Lease Deed dated 12 June 2021 between Bestech Business Towers Private Limited ("Head Landlord") and Northline Analytics Private Limited, registered as document no. 4412 in Book No. 1, Volume No. 2661 at pages 41-58 in the office of the Sub-Registrar, S.A.S. Nagar (Mohali), for a term of ten years from 12 June 2021 over Unit 305, Third Floor, Tower B, Bestech Business Towers, Sector 66, S.A.S. Nagar (Mohali). That head lease is referred to in this Deed as the "Head Lease", and expires, or its current renewed term expires, on 6 April 2026.
B. The head lease permits the Sub-Lessor to sub-let the Sub-Let Premises without requiring the Head Landlord's further consent, and the Sub-Lessor has in any event given the Head Landlord prior written notice of this sub-letting, particulars of which are given below Particulars: Letter dated 2 February 2026 from Bestech Business Towers Private Limited, signed by its authorised signatory Mr Arvind Kalra, General Manager (Leasing), consenting to sub-letting of Unit 305 to Coral Peak Consulting LLP on the terms summarised in that letter.
C. This Deed creates a SUB-LEASE: a lease within the meaning of s.105 of the Transfer of Property Act, 1882, transferring to the Sub-Lessee the right to exclusive possession of the Sub-Let Premises for the Term, and constituting an interest in immovable property in the Sub-Lessee's favour. That is the distinction Associated Hotels of India Ltd. v. R.N. Kapoor (Supreme Court of India, 1959) draws between a lease and a licence: a lease transfers an interest and exclusive possession, a licence merely permits use without either. The Parties intend the Sub-Lessee to have that exclusive possession and shall not do anything under this Deed inconsistent with it.