-22 , SB-Rp i-, EGIST EXHIBIT E*NASi BYE-LAWS OF "CHOPDA'S TWIN ToWERS APARTMENTS CHAPTERI 1. Short Title and Application: These Bye-laws shall be called the bye-laws of the CHOPDA'S TWIN ToWERS APARTMENTS" apartment condominium. The provisions of these bye-laws apply to the "CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condominium. All the present or future owners, tenants, or their employees or any other person who might use the facilities of the Apartment in any manner, are subject to the regulations set forth in these bye-laws. Mere acquisition or rental or taking license of any of the residential units (hereinafter referred to as the "Units") of the Apartment or mere act of occupancy of any of the said units will signify that these bye-laws are accepted, ratified, binding and shall be complied with. 2. Definition: In these bye-laws, unless the context requires otherwise. a "Association" means the association of all the Apartment owners constituted by such owners for the purpose of administration of the CHOPDA'S TWIN TOWERS APARTMENTS" apartment condominium. b "Board" means a Board of Management committee consisting of five persons, all of whom shall ol be owners Apartment in the CHOPDA's TWIN TOWERSs APARTMENTS" apartment condominium. SUB B-RE EJOIN ******* / c "Building" means the Apartment building ocated _att Plot No 1/2 admeasuring 977.70 Sq. Mtr (out on surhmo 680/5/1/2 having Final Plot No 420 (Part) TP II be the same a little more or less bounded according to the Demarcated Layout, situate, lying being at Nashik City-3 within the limits of Village Nashik, Taluka and District Nashik, within registration and sub Registration District of Nashik and within Nashik Municipal Corporation limits and more particularly described in the Schedule I known as thhe CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condominium or any part thereof and includes land forming part thereof. "Declaration" means a Declaration which the sole owner of the Apartment or all the owners of the Apartment have executed and registered as provided in section 2. e "Majority of Owners" means those owners holding 51 percent of the votes in accordance with the percentage assigned in the Declaration. "Owner" or "Apartment Owner" means a person owning an Apartment in the " CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condominium." "Section" means a section of the Act. h] "Unit" means a family unit in the "CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condon1inium. Registrar" means the registrar of Co-operative societiesS. "Words and expressions" used these bye-laws but, not defined herein, shall have the meaning respectively assigned to them in the Act. k] "Act" means The Maharashtra Apartment Ownership Act 1970 3. APARTMENT OWNERSHIP: The Apartment located on Plot No 1/2 admeasuring 977.70 Sq. Mtr (out of Survey No. 680/5/1/2 having Final Plot No 420 (Part) TP II be the same a little more or less bounded according to the Demarcated Layout, situate, lying being at Nashik City-3 TH- -24- GIST vithin the limits of Village Nashiky Ta Pand District Nashik, within registration and sub Registration District of Nashik and within Nashik Municipal Corporation limits and more particularly described in the Schedule I known as the "CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condominium or any part thereof is submitted to the provisions of the Act. 4. OBJECTs OF THE ASSOCLATION a To be and to act as the Association of Apartment owners of the Apartment called "CHOPDA'S TWIN TOWERS APARTMENTS" Apartment condominium constructed over the said Plots known as the "CHOPDA'S TWIN TOWERS APARTMENTS" (hereinafter called as the "said building"') who have filed their respective declarations submitting their apartments to the provisions of the act. b) To invest or deposit of amounts/ funds c) To provide for maintenance, repair and replacement of the said common area and facilities by contribution from the Apartment owners and, if necessary, by raising funds / loans for that purpose. d To provide for and do all or any of the matters provided in sub-section (2) of the section 16. e To advance with the consent of the Apartment owners, any short term loan to any apartment owners in case of emergent necessity and to provide for repayment thereof in lump sum or in installments. To establish and carry on its own account or jointly with individuals or institutions, educational, physical, social and recreational activities for the benefit of the Apartment owners. To frame with the approval of the general meeting of the Association with consent of majority members and after consulting the competent authority any may establish a provident fund and gratuity fund, if necessary, for the benefit of the Association. T-4 - B-RE 3sse h) To do all things necessary or any otherwise preHtsct for their welfare, expedient for the attainment of the objects, specified in these bye-laws. i To Association shall not act beyond the scope of its objects, without duly amending the provisions of these bye- laws for the purpose il To comply of payment of all payable taxes, cess, levies, dues, charges and outstandings. k] To do legal action / court cases representation on behalf of association in the interest of unit holders. 5. MEMBERSHIP OF ASSOCIATION: The Allottees who have purchased apartment in the "CHOPDA'S TWIN TOWERS APARTMENTS" apartment condominium has deemed to be submitted their respective declaration u/s 5 submitting their apartment to the provisions u/s 5 of the Act, and each Family unit holders shall automatically be the members of the association and shall pay the sum of Rs. 1000/- (One Thousand Rupees) as entrance fee and may purchase at least one share of the face value of Rs. 100/- (One Hundred Rupees) each. Each apartment owner shall receive a copy of the bye-laws on payment of the Rs.500/-(Five Hundred Rupees). II) Upon any Apartment owners selling his Apartment or absolutely conveying the same by way of Gift under his will or otherwise, the purchaser or Donee shall automatically become the member of the Association and shall be admitted as a Member on payment of the Entrance Fee and outstanding arrears or dues if any. The share held by an Apartment owner shall be transferred to the name of such purchaser or donee on payment of entrance fee to the Association. II) The membership of an outgoing Apartment owner by way of Transfer of his flat shall automatically be deemed to be transferred to the incoming Apartment owner, subject to the bylaws herein. 3-R THA- . EGIST :26 Iv) On death of an Apartment.ownerT, is/her Apartmenent shall be transferred to the person or persons to whom he/ha has bequeathed the same by his will or to the representative of his estate and in case he has not made legal specific request to the Apartment, the name of the legatee any r the names of the legal representatives, jointly shall be entitled to be entered in the Register of Apartment owners maintained by the secretary for the purpose of Administration of the CHOPDA'S TWIN ToWERS APARTMENTS" Or apartment owner or joint apartment Owners, where anv legatee is a minor. The apartment owner shall be entitled to appoint a guardian of such minor. 6. JoINT OWNERS: Where an Apartment has been purchased by two or more persons, jointly, they shall be jointly entitled to the apartment and the shares of the Association shall be issued in their joint names, but, the person whose name appears first on the share certificate, shall alone will have the right to vote. 7. SHARE: Every Apartment owner must hold at least one share of the Association (joint Apartment owner holding the shares jointly). 8. DISQUALIFICATION: No Apartment unit owner shall be entitled to vote on the question of election of members of the Board or the Chairman, secretary, Treasurer or any other office bearer or be entitled to contest election to such office, i he is in arrears of any sum due from him in respect of his contribution for common for expenses more than sixty days on the last day of the year preceding the year in which the elections to the board would take place. CHAPTER II 9. VOTING Voting shall be on a the percentage of vote to which the percentage basis and owner is entitled to, is the percentage assigned to the family or units in the declaration. E 3, RE *** * amns 10. QUORUM: Except, as otherwise provided in these Sye? laws, the presence in person of a majority of owners shall *NAS constitute a quorum. 11. vOTING: Votes shall be cast in person, No proxy or representative will be allowed to cast vote on behalf of unit owner. CHAPTER III ADMINISTRATION 12. POWERS& DUTIES OF ASSOCIATION The association will have the responsibility of administrating the Apartment condominium, approving the annual budget, establishing and collecting monthly assessments and arranging for the management of the condominium in efficient manner, except as otherwise provided, resolutions of the association shall require approval by a majority of owners, casting votes in person. 13. PLACE oF MEETING Meeting of the association shall be held at a suitable place convenient to the owners, as may be, from time to time, designated by the Association. 14. ANNUAL MEETING: The first annual meeting of the Association shall be held as per the prevailing provision of the Act. Thereafter, the annual meeting of the Association shal be held on any convenient day in each succeeding year, At such meeting, there shall be elected by ballot of the Apartment owners, a Chairman / Secretary and committee members, in accordance with the requirements of bye-laws. The owners may also transact such other business of the Association as may properly come before them. 15. SPECIAL MEETING: It shall be the duty of the Chairman to call a special meeting of the Apartment owners, as directed by a Resolution of the Board or upon the same is applied by majority of the owners and having been presented THA- T S 7 REGISR 20? The n o t i nce. authorised, in. this bet lf. of to the secretary duly and place of s . shall state the/tiie such any special meeting thereot. meeting and the purpose It shall be the duty of th 16. NoTICE OF MEETING: send a notice of each annual or speciat secretary to mail o r the time a n d thereof, a s well as, meeting, stating the purpose o w n e r at least to each Apartment place where it is to be held, than s e v e n days prior to such two days, but, not m o r e of a notice in the manner meeting. The mailing or sending be considered notice in the provided in this bye-laws shall shall be considered notice manner provided in this bye-laws, be displayed at the notice served. The notice of meeting shall it shall also be board installed on Ground Floor and owner. considered a s enough notice to each Apartment 17. ADJOURNED MEETING: If any meeting cannot be organised because a quorum has not attended, the owners who are present may adjourn the meeting to a time not less that forty eight (48) hours from the time, the original meeting was called for. If at such adjourned meeting also, no quorum is present, the owners present in person, being not less than two, shall form a quorum. 18. ORDER OF MEETINGS The order of meetings at all meetings of the owners of units shall be as follows a Attendance signature b) Reading of Minutes of proceeding meeting. c) Report of the office bearers. d Report of committees. e) Discussion on topic of the meeting and Policy decisions Final Approval for the decision taken in the meeting. i) Presentation and approval of accounts. Election of board. k If any other subject with the consent of chairman. ON S - TH i-, SUB-RE CHAPTER IV ASiN BOARD OF MANAGEMENT 19. MANAGEMENT OF ASSOCIATION: The Board of Management shall have the powers and duties necessary for the administration of the affairs of the Association and may do all such acts and things, as are required by Act / law or by these bye-laws, directed to be exercised and done by the owners. 20. OTHER DUTIES: In addition to the duties imposed by these bye-laws or by resolution of the association, the board shall be responsible for the following, that is to say a Care, upkeep and surveillance of the "CHOPDA'S TWIN TOWERS APARTMENTS " common areas and facilities and the restricted common areas and facilities. b) Collection of Monthly/Quarterly maintenance contribution / assessment from apartment unit owners. Designation, employment, remuneration and dismissal of the personnel necessary for the maintenance and operation of the " CHOPDA'S TWIN TOWERS APARTMENTS" apartment condominium. d) To provide for the manner in which the audit and accounts of the association shall be carried out. e) To inspect the accounts kept by the secretary and/or the Treasurer and examine the Registers and Account books and to take steps for the recovery of all the dues to the association. To sanction working expenses, count cash balance and deal with other miscellaneous business. To see that the cash book is written promptly and is signed daily by one of the members of Board, duly authorised in this behalf. h) To hear and deal with the complaints. To make payments of expenses and payables. CiST :i . . - o ) APPOINTMENT OFA MANAGEMENLOMMITTEE: 21. NASIK- in con+ECtion with its votina a) Each family unit owner Committee of Five members, which rights may appoint a to as a Board of Apartment shall be referred Committee, which shall consist ofa Management Chairman, Secretary, Treasurer and 2 Committee Members for smoothly and effectively carrying on the operations of the Association and to perform such duties and services, as the Board shall authorise, including, but, not limited to the duties listed in bye- laws. The term of each Board of Apartment Management Committee shall be 1 year. The office bearers i.e. the Chairman, Secretary and Treasurer shall be alternatively elected from both the buildings. Manager : The board may employ for the association a b) manager on a compensation basis determined by the board to prefer such duties and services as the board shall authorized including but not limited to the duties listed in by-laws 21. 22. ELECTION AND TERM OF AN OFFICE BEARERS: At the first annual general meeting of the Association, the term of two office bearers shall be fixed for three years and the term of one office bearers shall be fixed at one year. At the expiry of the initial term of office of each office bearers, his successors shall be elected to serve a term of one year. The office bearers shall hold the office until their first meeting. ( a larger Board is contemplated the terms of office should be established in a similar manner, so that it will expire in different years.) 23. VACANCIES: Vacancies in the Board caused by any reason other than removal of a office bearers by a vote of the Association, shall be filled by vote of majority of the remaining committee members, even though they may constitute thana quorum and each person's so elected shall be a office bearers until a successor is elected at the next annual meeting of u Association. AJCO INTS SUB-R 24. REMOVAL OF OFFICE BEARERS: At any réglar ots special meeting, duly called, one or more of the office bearers may be removed with or without cause, by a majority of the Apartment owners and a successor may then and there by elected to fill the vacancy thus created. Any office bearers whose removal has been proposed by the others, shall be given an opportunity to be heard in the meeting. 25. ORGANISATION OF A MEETING: The first meeting of the newly elected Board shall be held within 10 days of the election at such place as shall be fixed by the office bearers at the meeting at which the office bearers were elected and no notice shall be necessary to the newly elected office bearers in order to legally constitute such a meeting, provided a majority of the whole Board shall be present. 26. REGULAR MEETING: Regular meeting of the Board may be held at such a time and place, as shall be determined from time to time, by a majority of the office bearers but at least two such meetings shall be held during each year, Notice of regular meetings of the Board shall be given personally or by mail or telegraph at least three days prior to the day named for such meeting. 27. SPECIAL MEETING: Special meeting of the Board may be called by the Chairman on three days notice to each office bearers, given personally or by mail or telegraph, which notice, shall state the time, place (as hereinabove provided and purpose of the meeting (special) meeting of the Board) shall be called by the Chairman on the written request of at least 3 office bearers. 28. WAIVER OF NOTICE: Before or at any meeting of the Board, any office bearers, in writing, waive the notice of such a meeting and such a waiver shall be deemed equivalent to the issuing of such a notice. Attendance by a office bearers of any meeting of the board shall be a waiver of notice by him of vGIST /PooR) the time and place thereof. If all the office he@refs are ent and any business mav no notice shall be required be transacted at such a meeting. 29. QUORUM: At all meeting of the Board 2/3rd of the the total strength of the office bearers shall constitute a quorum for the transaction of business and the acts of the office bearers present at the meeting at which a quorum is resent shall be the acts of the Board. If at any meeting of the Board, there be less than a quorum so-present, it may adjourn the meeting from time to time at any such adjourned meeting, any business which might have been transacted, as originally called, may be transacted without further notice, provided there is a quorum present. 30. FIDELITY BONDS: The Board may require that all officers and employees of the Association handling or esponsible for the Association funds, shall furnish adequate fidelity bonds. The premium on such bonds shall be paid by the Association. CHAPTER V OFFICE BEARERS 31. DESIGNATION : The principal office bearers of the Association shall be a Chairman, a Secretary and a Treasurer, all of whom shall be elected by and from the board. If required the Board may appoint an assistant Treasurer and an Assisttant secretary and such other officers. As in their judgment may be necessary (in case of an Association of 100 owners or less, the officers of treasurer and secretary may De filled by the same person.) 32. ELECTION OF OFFICE BEARERS: The officer bearers of the Association shall be elected annually by the Board or the association meeting of each new Board and shall hold offices at the pleasure of the Board. tIEJOT SUB--R,-RD 3334R) -sse 33. REMOVAL OF OFFICE BEARERS: Upon an àfirtiaiye, t note of a majority of the Members of the Board, any officer bearers may be removed either with or without any cause and his successor elected at any regular meeting of the Board of members or at any special meeting of the Board called for such purpose. 34. CHAIRMAN : The Chairman shall be the chief Executive officer of the association. He shall preside at all the meetings of the association and of the Board. He shall have all the general powers and duties which are usually vested in the office of a Chairman of an association, including, but not limited to the power to appoint a committee, from among the owners, from time to time, as he may in his discretion, decide to be appropriate to assist him in conduct of the affairs of the Association. 35. SECRETARY: The secretary shall keep the minutes of all the meetings of the Board and the minutes of the Association. He shall have charge of such books and papers as the Board may direct and he shall, in general, perform all the duties incidental to the office of a secretary. 36. TREASURER: The Treasurer shall be responsible for the Association funds and securities and shall also be responsible for keeping full and accurate accounts of all receipts and disbursements in the books belonging to the Association. He shall be responsible for the deposit of all amount and moneys and other valuable effects in the name and to the credit of the Association in such deposits, as may be, from time to time, designated by the Board. CHAPTER VI OBLIGATIONS OF THE APARTMENT OWNERS 37. ASSESSMENTS: All owners are obliged to pay assessments / maintenance imposed monthly by the Association to meet all expenses relating to" CHOPDA'S TWIN TOWERS APARTMENTS" which may include an insurance for a policy to cover premium repair and reconstruction work in case of SR-R .I FGIS? caamity. Th other hazafd of earthquake o r The hurricane, fire, stipulated in accordiDg .as the th assessments shall be made shall include such a s s e s s m e n t monthly Declaration, reserve and a reserve fund payments to a general operating for replacement. 38. MAINTENANCE AND REPAIR: maintenance and promptly, al 1) Every o w n e r must prefer which it omitted would affect repair work within his own unit, "CHOPDA'S TWIN TOWERS APARTMENTS the to other CONDOMINIUM" in entirely or in a part belonging for the damages and owners, being expressly responsible liabilities that his failure to do so may endanger. installations of the unit such as 2) All the repairs of internal water, light, gas, power, sewage, telephone, air conditioner, and all other sanitary installations, doors, windows, lamps accessories belonging to the unit area shall be at the concerned. expenses of the apartment owner 3) An owner shall reimburse the Association for any expenditure incurred in repairing of replacing any common area and facility damaged through his fault. 39 USE OF FAMILY UNITS: Internal Changes i) All units shall be utilised for their respective residential purpose only. ii) An owner shall not make any structural modifications located therein, without previously notifying the Association, in writing, through the Chairman of the Board, if no manager is employed, the association shall have the obligation to answer within 30 days and failure to do so within the said stipulated time, shall mean that there is no objection to the proposed modification, alteration or installation. 40. USE OF cOMMON AREAS & FACILITIES: An owner shall not place or cause to be placed in the lobbies, staircases, and other areas of " CHOPDA'S TWIN TOWERS APARTMENTS apartment & facilities of a similar nature, sUB-RE HEJO7 FHH- both common and \*r é s t I e d 2 a n y furniture, packages o r objects of any kind. Suchåreas shall be used for no other purpose than for normal transit through them. 41. RIGHT OF ENTRY i)An owner shall grant the right of entry to the office bearer or to any other person duly authorised by the Board of the Association in case of an emergency originating in or threatening his unit whether the owner is present at the time or not. ii) An owner shall permit other owners or their representatives when so required. So enter his unit for the purpose of performing installations, alterations or repairs to the mechanical, phumbing or electrical services. Provided that a request for such an entry is at a time convenient to the unit owner, however, in case of an emergency, such right of entry shall be immediate. 42. RULES OF CcONDUCT: i No resident of the "CHOPDA'S TWIN TOWERS APARTMENTS " shall post any advertisement or posters or any kind in or on the building, except, as authorised by the Association. ii) Residents shall exercise extreme care about making noises or the use of musical instruments, radios, televisions, and amplifiers that may disturb others. Residents keeping domestic animals shall abide by the Municipal Corporation sanitary bye-laws or regulations. ii) It is prohibited to throw garbage, hang garments, rugs, etc. from the windows, balconies or from any of the facades of the " CHOPDA'S TWIN TOWERS APARTMENTS" iv) It is prohibited to throw dust, rags, etc. from the window or to clean, rugs, etc. by beating them on the exterior part of the said condominium. v It is prohibited to throw garbage or thrash outside the disposal installations provided for such purpose in the service -36 B-R -R, REGIS areas. If such installations are not provided allgaihdge or thrash shall be collected in a vessef apd ehtóvn in the Municipal Corporation Dustbin / Van. vi) No owner, resident or lessee shall install wiring for electrical or telephone installations, television antennae's, machine or air-conditioning units etc. on the exterior of the " CHOPDA's TWIN T O W E R S APARTMENTS " of that protrude the walls or roof of that condominium except, as authorised by the Association. CHAPTER VII FUNDS AND THEIR INVESTMENT 43. FUNDS Funds may be raised by the Association in all or any of the following ways, viz. a) By shares b) By contributions and donations from the apartment owners. c) From common profit which shall from the nucleus of the Reserve fund. d) By raising loans, if necessary, subject to such terms & conditions, as the association, with the approval of the competent authority, may determine in its behalf. e) Interest on fix deposits. 44. INVESTMENT: The association may invest or deposit its funds in one or more of the following : a) To open a Bank Account in the District Central co- operative Bank / Nationalised Bank/Scheduled Bank. b) In any of the securities as per prevailing laws. c) From common profit which shall from the nucleus of the reserve fund. d) The said Bank Account opened in any such bank as per this Bye laws shall be operated jointly by the signatures of Chairman, Secretary and Treasurer. . : - 31 , 3 45. AFFILIATION: NASS Cass. Shonldihere be any federation Apartment owners in the locality, in which the "CHOPDA'S of TWIN TOwERS APARTMENTS" apartment association may, after consulting the competent authority, become a member thereof and pay the sums from time to time, payable to such federation under the rules thereof. 46. ACcOUNTS: i) A banking account shall be opened by the association into which all amounts, moneys received on behalf of the association shall be paid provided that the Treasurer may retain in his personal custody on amount not exceeding Rs. 1000/- for petty expenses. All payment above Rs. 1000/- shall be made by cheque, duly signed by any two office bearers. ii) Each Apartment owners shall get a receipt and shall have a pass book in which the secretary shall enter amounts paid to or received for his share in receipts of profits from the common areas and contributions towards common expenses and his share of assessment and other dues, if any, in respect of his apartment. ii) The association shall on or prescribed date in law each year publish an audited financial statement in respect of the common areas and facilities containing. a) The profit and loss account. b) The receipts and expenditure of the previous financial year and c) A summary of the property and assets and liabilities of the association giving such particulars, as wil disclose the general nature of these liabilities and assets and how the value of fixed assets has been arrived at. iv) The audited financial statement shall be open to the inspection of any member of the association during office hours and in the office of the association and a copy thereof, shall be submitted to the competent authority not later than as prescribed in law every year. NT -R .. THA-4 , -38 _VEvery finanaial statement shall ba aacNmpaInedh Class-2 complete list of the apartment owners there shall aln o accompany the financial statement in a similar list of and loaners. The financial statement shall loanees state upto what date profits and expenses of the areas are included. 47. PUBLICATION OF ACcoUNTS & REPORTS: A copy the of previous year's financial statements and the Report the auditor, if of of any, shall be kept in a conspicuous place in the office of the Association. 48. APPOINTMENT OF AUDITOR: The association shall appoint at its General Meeting, an Auditor who shall audit the accounts of the Association to be prepared by the Board, as hereinabove provided and shall examine the annual return and verify the same with the accounts relating thereto and shall sign the same as founded by him, to be correct, duly vouched and in accordance with law or specially report to the association in what respect the funds it is incorrect, unvouched or not in accordance with the law. 49. POWER OF AUDITOR: The Auditor shall be entitled to call for and examine any papers or documents the association relating to the common belonging to areas & facilities (including limited/ restricted areas and facilities) and common expenses and shall make a special report to the Association upon any matter connected with the accounts which appear to him requires notice. CHAPTER-VII MORTGAGES 50. NOTICE OF ASSOCIATION An owner who mortgages his unit, shall notify the association, through the manager, if any, or the Chairman ot the Board, in the event there is n0 manager, the same and address of his mortgagee and the association shall maintain such information in a book entitled mortgagees of units. T SU UB- H EJ O r , Faa B9. FH-4 51. NOTICE OF UNPAID ASSESSMENTS: The association shall at the request of a mortgagee of a unit, report any unpaid assessments due from the owner of such unit. CHAPTER IX COMPLIANCE 52. APPLICATION OF ACTS : These bye-laws are set forth complied with the requirements of The Maharashtra Apartment Ownership Act 1970. In case any of these bye-laws conflict with the provisions of the said act, it is hereby agreed and accepted that the provisions of the act or such other prevailing act at that time will apply. 53. SEAL OF THE ASSoCIATION The association shall have a common w h shall be in the custody of the secretary and shall be used only under the authority of a Resolution of the Board and every Deed of instrument to which the seal is affixed, shall be attested for or on behalf of the association by two members of the Board and the secretary or any other person duly authorized by the Association, in that behalf. CHAPTER-X 54. AMENDMENTS TO PLAN OF APARTMENT OWNERSHIP: In future, the plans of the said Apartment may be amended and modifications may be done in existing plan, by the association in a duly constituted meeting for such purpose and no amendment shall take effect unless approved by unit owners representing at least 75% of the total value of all units in the " CHOPDA'S TWIN TOWERS APARTMENTS " as shown in the declaration. -9 55. AMENDEENTS OF BYLAWS: These by laws may be amended by the association in a duly constituted such purpose and meeting for no amendment shall take effect unless approved by unit owners representing at least 75% of the total value of al1 units in the " CHOPDA'S TWIN APARTMENTS " as shown in the declaration. TOWERS IN WITNESS WHEREOF, the Grantor Owner / herein, have set and subscribed their hands Developer on this declaration to these presents on the day, month and year written first hereinabove. SIGNED SEALED & DELIVERED by GRANTOR OWNER/ DEVELOPER p ARHUM HILLS-N-LANDS PRIVATE LIMITED) THROUGH DIRECTOR MR. SUNIL MOHANLAL CHOPDA Witnesses 1. Ha-zeaal apda.