K ASHAR & CO ■ (Regd.) J KAshar KJAshar Advocates & Solicitors MAMody P M Mody 1107-9 Raheja Centre (11th Floor), Free Press Journal Marg, Nariman Point, Mumbai - 400 021, India. Tel.: ■●■91-22-6624 9494 Fax : ■●■91-22-6624 9495 Email: mumbai@kasharindia.com M337C/4386/23 Ref. No.: Date: 10* November, 2023 FORMAT-A (Circular No. 28/2021) To Maharashtra Real Estate Authority 6* and 7* Floors, Housefin Bhavan, PlotNo.C-21, E-Block, Bandra Kurla Compilex, Bandra (East), Mumbai-400 051. Sir, LEGAL TITLE REPORT Re.: 1 itie Report in respect of M/s. Yashvi Corporation, a sole proprietary wncem of Mr. Khemant Jakhubhai Nandu’s right, title and interest in all tjiat piece or parcel of land admeasuring about 653.60 sq. mtrs. or thereabouts bearing Plot No. 131 and CTS Nos. 1005 and 1005/1 to 6 of wllage Chembur and situate at 16* Road, Chembur Mumbai - 400 071. We have inyestigated the title of the captioned property on the request of M/s. Yashvi Corporation, 1. a sole proprietary concern of Mr. Khemant Jakhubhai Nandu’s (the Developer), who has acquired development rights from (1) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) \'idya Vijay Adhikari and (4) Shailaja Balkrishna Chawan (the Owners), based on the following details/documents furnished to us :- (a) Description of the Pronertv All that piece or parcel of plot of land admeasuring about 653.60 sq. mtrs. or thereabouts bearing Plot No. 131 and CTS Nos. 1005 and 1005/1 to 6 of village Chembur and situate at 16* Road, Chembur Mumbai - 400 071 within the limits of Greater Mumbai in the District and Registration Sub-District of Mumbai and Mumbai Suburban District along I with the building structure standing thereon and bounded as follows: On or towards North: by 16* Road; On or towards South : by property of Vishnu Kunj Co-op. Hsg.; On or towards East: by Property of Mr. Sardesai; and On or towards the West: by Property of Mr. Pinto. DELHI: 3, Tansen Marg, First Floor, Bengali Market, New Delhi -110 001, India. Tel.: ■●■91-11-4007 9494 / 9496 Email: delhi@kasharindia.com www.kasharindia.com (b) The documents of allotment of the said Plot We have been provided for our inspection, the photostat copies of the following documents:- (i) Development Agreement dated SO* June, 2005 executed between (1) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) Vidya Vijay Adhikari and (4) Shailaja Balkrishna Chawan and M/s. Yashvi Corporation, then a partnership firm, through its partners Mr. Khemant J. Nandu and Mr. Prafiil M. Shah; (ii) Power of Attorney dated SO* June, 2005 executed between (1) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) Vidya Vijay Adhikari and (4) Shailaja Balkrishna Chawan in favour of Mr. Khemant J. Nandu and Mr. Prafiil M. Shah; (iii) Deed of Admission cum Retirement of Partnership dated 1“ April, 2009 executed between Mr. Khemant J. Nandu, Mr. Praful M. Shah, Rahul Kirti Shah and Vaishali Rahul Shah; (iv) Order dated 22'“* May, 2022 passed by the Hon’ble High Court of Judicature at Bombay in Writ Petition (L) No. 3039 of 2022 in the matter of Krishnakumar Bhagwatiprasad alias Bhagwantrao Gupta & Ors. vs. State of Maharashtra, through its Revenue Department & Ors.; and (V) Property Register Cards in respect of land bearing C.T.S. Nos. 1005 and 1005/1 to 6 of village Chembur. (c) 7/12 Extracts or Property Register Card On perusal of the Property Register Cards in respect of land bearing C.T.S. Nos. 1005 and 1005/1 to 6 of village Chembur, we observe that the same is presently categorized as “B- 1” and the names of (1) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) Vidya Vijay Adhikari and (4) Shailaja Balkrishna Chawan are refiected as the “holders” in the holder column. ?-U X)JU| K ASHAR & CO ■ (Regd.) Continuation Sheet No. Advocates & Solicitors (d) Search Rcnnris Search Report of our Search Clerk Shri Ganesli Gawde, who has obtained necessary searches form records of Sub Registrar of Assurances at Mumbai, Bandra, Chembur and Kurla-1 to 4 Office for years 1994 to 2023 (30 years). 2. On perusal of the above-mentioned documents and all other relevant documents relating to title of the captioned property, and on the basis of and subject to what is stated in our Title Certificate bearing Ref. No. M337c/4385/23 dated 10* November, 2023, we are of the opinion that the title of the Developer to the captioned property is clear and marketable. Owners of the land. 4. As stated above, (1) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) Vidya Vijay Adhikari and (4) Shailaja Balkrishna Chawan are the owners of the captioned property and M/s. Yashvi Corporation, a sole proprietary concern of Mr. Khemant Jakhubhai Nandu has acquired the right to develop the captioned property under a Development Agreement dated 30* June, 2005 read with Deed of Admission cum Retirement of Partnership dated 1“ April, 2009. The flow of title in respect of the captioned property is enclosed herewith as Anticxure ‘A’. Yours truly. /> /● C-Co-cJl-y End.: as above. 1 J K Ashar K ASHAR & CO. (Regd.) K J Ashar Advocates & Solicitors M A Mody P M Mody 1107-9 Raheja Centre (11th Floor), Free Press Journal Marg, Nariman Point, Mumbai - 400 021, india. Tel.: +91-22-6624 9494 Fax ; +91-22-6624 9495 Email : mumbai@kasharindia.com M337C/4385/23 Ref. No.; Date: 10’*'November, 2023 TO WHOMSOEVER IT MAY CONCERN Re.: Title Report in respect of M/s. Yashvi Corporation, a sole proprietary concern of Mr. Khemant Jakhubhai Nandu’s right, title and interest in all that piece or parcel of plot of land admeasuring about 653.60 sq. mtrs. or thereabouts bearing Plot No. 131 and CTS Nos. 1005 and 1005/1 to 6 of village Chembur and situate at 16'’' Road, Chembur Mumbai - 400 071 along with the building structure standing thereon. 1. We have investigated the title of M/s. Yashvi Corporation, a sole proprietary concern of Mr. Khemant Jakhubhai Nandu’s (the Developer) right, title and interest in all that piece or parcel of plot of land admeasuring about 653.60 sq. mtrs. or thereabouts bearing Plot No. 131 and CTS Nos. 1005 and 1005/1 to 6 of village Chembur and situate at 16'’’ Road, Chembur Mumbai - 400 071 along with the building structure standing thereon and on perusal of the documents provided to us. we observe as under as under: A. Flow of Title 2.1 One Sumatibai Bhagwatiprasad alia Bhagwantrao Gupta was during her lifetime seized and possessed of and well and sufficiently entitled to all that piece or parcel of plot of land admeasuring about 653.60 sq. mtrs. or thereabouts bearing Plot No. 131 and CTS Nos. 1005 and 1005/1 to 6 of village Chembur and situate at 16'^ Road Chembur Mumbai - 400 071 within the limits of Greater Mumbai in the District and Registration Sub-District of Mumbai and Mumbai Suburban District (hereinafter referred to as “the said Land”) with a fully tenanted building consisting of ground and two floors known as ‘Sai Kutir’ constructed thereon (hereinafter referred to as “the said Old Building”). The said Land along with the said Old Building is hereinafter collectively referred to as “the said Properly”. 2.2 The said Sumatibai Bhagwatiprasad alia Bliagawantrao Gupta died intestate on 8'*’November, 1989 leaving behind (a) Krishnakumar Bhagwatiprasad Gupta, (b) Pravin Bhagwatiprasad Gupta, (c) Vidya Vijay Adhikari and (d) Shailaja Balkrishna Chawan (hereinafter collectively referred to as “the Owners’) as her only legal heirs and next of kin as per the provisions of the Hindu Succession Act, 1956 by which she was governed with at the time of her death. DELHI: 3, Tansen Marg, First Floor, Bengali Market, New Delhi - 110 001, India. Tel.: +91-11-4007 9494 / 9496 Email; delhi@kasharindia.com www.kashartndia.com 2 2.3 By a Development Agreement dated 30"' June, 2005 executed between the Owners, therein also referred to as the “Owners” of the One Part and M/s. Yashvi Corporation, then a partnership firm, through its partners Mr. Khemant J. Nandu and Mr. Praful M. Shah, therein referred to as the “Developers” of the Other Part, the Owners granted to M/s. Yashvi Corporation development- cum- sale rights the said Property subject to the rights of the tenants, for a consideration and on terms and conditions stated therein. The Development Agreement dated 30"' June, 2005 is registered with the Sub-Registrar of Assurances at Kuria-3 under Serial No. KRL-3/5512/2005 on 30"’ June. 2005. 2.4 Simultaneously with execution of the Development Agreement dated 30"' June, 2005, the Owners have executed in favour ofMr. Khemant J. Nandu and Mr. Praful M. Shah an irrevocable Power of Attorney to do all acts and deeds in relation to development of the said Property. The irrevocable Power of Attorney dated 30"’ June, 2005 is registered the Sub-Registrar of Assurances at Kurla-3 under Serial No. KRL-3/5513/2005 on 30"' June, 2005. 2.5 At the time of execution of the Development Agreement dated 30"' June, 2005, M/s Yashvi Corporation was a registered partnership firm having only two partners, namely Mr. Khemant J. Nandu and Mr. Praful M. Shah constituted under the Partnership Deed dated 23'" May, 2003. 2.6 Vide a Deed of Admission cum Retirement of Partnership dated I*' April, 2009 executed between Khemant Jakhubhai Nandu, therein referred to as the “Retiring Partner” of the First Part, Praful Manilal Shah, therein referred to as the “Continuing Partner” of the Second Part and (a) Rahul Kirti Shah and (b) Vaishali Rahul Shah, therein referred to as the “Incoming Partners” of the Third Part, Mr. Kliemant J. Nandu retired from the partnership firm M/s. Yashvi Corporation and (a) Rahul Kirti Shah and (b) Vaishali Rahul Shah were admitted as partners. Further, amongst other terms and conditions it was agreed that: (i) Mr. Khemant J. Nandu would be exclusively entitled to develop the said Property; (ii) the other partners of M/s. Yashvi Corporation would not have any right title and interest in the said Property or in its development rights; and (iii) Mr. Khemant J. Nandu would be entitled to use the name M/s. Yashvi Corporation only with respect to the said Property as his sole proprietorship. 3 K ASHAR & CO. (Regd.) Continuation Sheet No Advocates & Solicitors Since under the Deed of Admission cum Retirement of Partnership dated P' April, 2009, Mr. Khemant J. Nandu acquired the exclusive right to develop the said Property on retirement, the Deed of Admission cum Retirement of Partnership dated P' April, 2009 requires to be appropriately stamped under the provisions of the Maharashtra Stamp Act and registered. 2.7 In these circumstances, Mr. Khemant J. Nandu through his sole proprietorship concern M/s. Yashvi Corporation is exclusively entitled to the development rights in respect of the said Property under the Development Agreement dated 30“' June, 2005 and proposing to develop the same as a single lay out by demolishing the structures standing thereon and construct new building thereon. B. Property Register Card The Property Register Cards in respect of the said Plot reflects and records the tenure of the said Plot as “B-1 ’’ and the names of (I) Krishnakumar Bhagwatiprasad Gupta, (2) Pravin Bhagwatiprasad Gupta, (3) Vidya Vijay Adhikari and (4) Shailaja Balkrisima Chawan are recorded as “holders”. C. Approvals (i) As per Development Plan Remark 2034 issued by Municipal Corporation of Greater Mumbai, the said Land falls under Residential Zone. (ii) Upon an application made by the Developer as the Constituted Attorney of the Owner to the Municipal Corporation of Greater Mumbai for development of the said Plot, Municipal Corporation of Greater Mumbai issued its Intimation of Disapproval under Section 346 of the Mumbai Municipal Corporation Act under Ref No. CE/5694/BPES/AM - IOD/Amend(l) dated 19'“ August, 2021 approving the plans and a Commencement Certificate bearing Ref No. CE/5694/BPES/AM/FCC/l/New dated 11“' August, 2023 is issued by Municipal Corporation of Greater Mumbai. D. Litigations The Owners along with the Developer filed a Writ Petition being Writ Petition (L) No. 3039 of 2022 against State of Maharashtra through its Revenue Department & Ors. before the Hon’ble High Court of Judicature at Bombay inter alia challenging the communication dated 2"“ December, 2021 issued by the Collector, Mumbai Suburban District instructing Municipal Corporation of Greater Mumbai not to grant building permissions in respect of lands granted on B-I tenure under Form HH under 4 llie provisions of Bombay Land Revenue Code. 1879 and the Bombay Land Revenue Rules . 1921, unless confirmation has been received by the Collector, Mumbai Suburban District that the applicant for such permission has deposited conversion premium for converting landholding from B-1 tenure to C tenure as per the Government Resolution dated 3"* August, 2019. By an Order dated 22"<' May, 2022 passed in the aforesaid Writ Petition along with other conneeted Writ Petitions involving the same issue, the Hon’ble Bombay High Court infer alia held that the Municipal Corporation planning authority may process the proposal of the Owners and the Developer for corp,„e„ce„,e„, cer,ifloa,e,oo„s.r„c.io„ permission in aceordance wiU, law dehors the impugned communication issued by the Colleetor, Mumbai Snbmtan District and that the Collector may, i„ terms of Govcmmcht Resolution dated 3" August, 2019, take deeision with regard to the amount legitimately due and payable by the Petitioners, if any and disposed of the said Writ Petitions, We have been informed by the Developer that no demand for conversion fees has been made by the Collector, Mumbai Suburban District i m terms of Government Resolution dated 3'** August, 2019. E. Search at Sub-Registrar We have through our Search Clerk Shri Ganesh Gawde obtained necessary searches form records of Sub Registrar of Assurances at Mumbai, Bandra, Chembur and Kurla -! to 4 Office for years 1994 to 2023 (30 years). A copy of the Search Report is annexed at Annexure ‘1’ hereto. F. Public Notice We have on 29"' September, 2022 published a Public Notice in ibe editions of Free Press Journal and Navshakti inviting claims in respect of the said Property. We have not received any daims/objections in respect thereof. G. Disclaimer/Qualifications (0 We express no views with regards to technical due diligence as regards the requisite building permissions and development potential in respect of the said Property and assume the Developer shall obtain the same separately before commencing any development work on the said Property; if. 5 K ASHAR & CO ■ (Regd.) Continuation Sheet No Advocates & Solicitors (ii) We have not independently verified the area of the said Land and have referred to and retained the admeasurements in square yards and square meters as reflected in the various documents. (iii) We express no views with regards the legal capacity of all natural persons, genuineness of all signatures, authenticity of all documents submitted to us in photocopies. 3. Based on the above stated and our observations as above, we hereby certify that the title of the Developer being entitled to develop the said Property under registered Development Agreement dated 30* June, 2005 read with Deed of Admission cum Retirement of Partnership dated 1“ April, 2009 is clear, marketable and free from encumbrances. 4. In no circumstances, our liability, if any, in connection with issuance of this Title Certificate exceed the professional fees paid by the Developer to us. Yours truly, f. dUy Ends.; as above. CHALLAN MTR Form Number-6 CRN MH010564200202324P BARCODE lllllllllllllllllllllllimillllllllllllllltlllll Date 03/11/2023-17:23:50 Form ID Department Inspector General Of Registration Payer Details Search Fee TAX ID/TAN (If Any) Type of Payment Other Items PAN No.(lf Applicable) Office Name KRL1_JT SUB REGISTRAR KURLA NO 1 Full Name GANESH GAWDE Location MUMBAI Year 202S-2024 From 01/01/1994 To 31/12/2001 Flat/Block No. ROOM N0.13, PLOT N0.32, MATRUSMRUTI Premises/Building CHSL. Account Head Details Amount In Rs. LT NAGAR ROAD N0.2 0030072201 SEARCH FEE 200.00 Road/Street Area/Locality GOREGAON WEST Town/City/District PIN 4 0 0 1 0 4 Remarks (If Any) Chembur.CTSNo.1005 Amount In Two Hundred Rupees Only Total 200.00 Words Payment Details SBIEPAY PAYMENT GATEWAY FOR USE IN RECEIVING BANK Cheque-OD Details Bank CIN Ref. No. 10000502023110306727 1207417218720 Cheque/DD No. Bank Date RBI Date 03/11/2023-17:24:07 Not Verified with RBI Name of Bank Bank-Branch SBIEPAY PAYMENT GATEWAY Name of Branch Scroll No., Dale Not Verified with Scroll Department ID: Mobile No.: 9820398708 NOTE:- This challan is vaUd for reason mentioned in Type of payment only. Not valid for other reasons or unregistered document ^i^ cici5i "eiftf aiTtp 3it^ °ig5 thi-iuiranflxi nni . 5cfc ^reoiraiS fSsgi 5i BFcrtrarezji c=fi3i smt). Page 1/1 Print Date 03-11-2023 05:36:52 11/3/23, 5:17 PM eSearch Government MH010562916202324P of Regn. 39 M Maharashtra Department of Registration and Stamps 03 Nov 2023 Receipt Receipt no.: 1113159965 Name of the Applicant: Ganesh Yashwant Gawde Details of property of which Dist iMumbai Sub-urban District document has to be Village :Chembur S.No/CTS searched : No/G.No.: 1005 Period of search : From :2002 To :2023 Received Fee: 550 The above mentioned Search fee has been credited to government vide GRN no :MH010562916202324P As this is a computer generated receipt, no stamp or signature is required. For Physical search in office, Please bring this receipt along with mentioned Gras Challan. Payment of search fee through GRAS challan can be verified on ■gras.mahakosh.gov.in/challan/views/frmSearchChallanWithOutReg.p hp'. https://eseafchigr,maharashira.gov.in/ponal/SearctiReceipt.aspx? query=636651a29b2a19473f24e668c167b13a 1/1