No Objection Certificate

ANNEXURE "E"

City and Industrial Development Corporation of Maharashtra Limited,
Estate Management Section, CIDCO Bhavan, 1st Floor, CBD-Belapur, Navi Mumbai - 400614.

No. CIDCO/EMS/EO/

To,

Shri/Smt. _________________

Sub : Grant of permission to transfer plot No.
Road No. ___________ in Sector ______________
at ____________________________

Sir/Madam,

Please refer to your Letter dated ______________.

Since you have paid a sum of Rs._____________________ being 50% of the difference between the declared premium and the original premium, the Corporation is pleased to permit you to transfer and assign leasehold rights to Shri/Smt.___________________________________________________ subject to the following terms and conditions.

a) The transfer and assignment of your leasehold rights shall be effected after obtaining permission of the Competent Authority under Urban Land (Ceiling and Regulation) Act, 1976 by a regular conveyance according to law at the cost of the parties.

b) The Deed of assignment shall be registered with the Sub-registrar of Assurance on or before _____________.

c) The Deed of assignment shall contain the following Covenant :

i) The Assignee shall not sell, assign, mortgage, underlet or otherwise transfer wholly or partly the demised premises or his interest therein or party wholly or partly with the possession of the demised premises.

ii) In the instrument by which the Assignee shall transfer the demised premise, Assignee shall impose upon the person to whom the demised premises are transferred to perform and observe to the Corporation all the conditions and convenants of the Lease granted to him including this covenant.

d) A true certified copy of the instrument of transfer executed between you Assignee and your transferee is deposited with the Estate Officer of the Corporation within seven days from the date of its execution.


Explanation : Nothing contained herein shall apply to mortgage of the demised premises or any part thereof, to the Central Govt., a State Govt., a Nationalised Bank, the Life Insurance Corporation of India, the Maharashtra State Financial corporation, the Housing Development Finance Corporation Ltd., or an employer of the Assignee or any other Financial Institution as may be approved by the Board of Directors of the Corporation from time to time.

e) You shall obtain any other permission, as may be required by any other stature or law being in force.
f) The Assignee will be Liable to pay such service changes as may be fixed by the Corporation from time to time.


Thanking You,

Yours faithfully,


Estate Officer

cc to : Smt/Shri _____________________