From: William Bissell [mailto:
Sent: 03 November 2017 10:32
To: 'Harpreet Duggal' <>
Subject: FW: Turner Road update
RA – CEO
My best,
William
From: Kuldeep Sharma - Head – Legal <
Date: Friday, 3 November 2017 10:24 am
To: William Bissell <>, Vijai Kapoor <>, Charu Sharma <>, Viney Singh <>, Mukesh Chauhan <>, Ajay Kapoor <
Cc: Satyajit Sarna <>, >, Vanessa Singh <>, Saveen Sharma <
Subject: RE: Turner Road update
Dear All,
As scheduled we met the representatives of the new owner Y M Infra.
In the meeting, Mr. Atif and other people from Y. M. Infra were present. From SICOM, Mr. Jayant was present.
The conveyance deed has been executed between SICOM and Y M Infra in the month of September. We requested Mr. Atif to share a copy of the same, which he will be sending via mail to Rajendran.
Mr. Atif has quoted 16 lac as the fixed rent. We had very clearly told them that at this time we cannot agree on any escalations in the license fee, but can increase the Minimum Guarantee amount of Rs. 9 lac by 15% as per the last agreement.
But Mr. Atif was not agreeing on anything below 16 lac.
After almost 1 hour of discussions, Mr. Atif finally came down to a MG of Rs. 14,15,000/- or 12% RS, whichever is higher. Apart from this he said that we will enter into a fresh Leave & License Agreement and these commercials may continue for a year and thereafter they would want to further negotiate on license fee.
He further mentioned that he has an offer from a jewellary brand for Rs. 18 lac fixed rent, but he want Fabindia as the licensee.
Mr. Jayant from SICOM told us that they have authorised Y M Infra to also recieve the arrears of License Fee, as tendered to SICOM by us. They will be issuing a letter to us in this regard.
Further, neither SICOM nor Y M infra is ready to take liability of the security deposit we paid to Kamala Landmarc. As per them we had to recover the same from Kamala only.
To our view we can counteroffer as under:
1. Fixed License Fee of 14 lac with no revenue share. (currently average monthly licence fee payout is around 13.15 lac)
2. A leave and license agreement, in the earlier template, for 5 years from the date of conveyance deed.
3. No escalations for next 36 months.
Kindly let us know your kind views on this. We have to confirm to them by end of next week.
Also can I request for a meeting on monday to discuss this.
Regards
Kuldeep Kumar Sharma
Head Legal
Fabindia Overseas Private Limited
On Oct 27, 2017 3:36 AM, "Viney Singh" <> wrote:
Dear Kuldeep,
I am in agreement with Ajay.
Our current terms are very healthy and we need to convince the new landlords of this.
Regards
Viney
From: Ajay Kapoor [mailto:
Sent: 26 October 2017 12:39
To: 'Kuldeep Sharma' <>; 'Office MD' <>; ; 'Viney Singh' <>; 'Mukesh Chauhan' <>;
Cc:; ; 'Saveen Sharma' <>; 'Rajendran KP' <
Subject: RE: Turner Road update
Hi Kuldeep,
As I understand from the mail of Rajendran the MG was supposed to be revised to 10.35 lacs with a 15% escalation from September onwards which we should agree too.
I don’t think we should agree anything beyond this at the moment and should convince them on the current rentals only which are quite healthy with a 12% RS which is being given. We need to check if the agreement is for 5 years or 9 years as in Mumbai many agreements are of 5 years and if so is the case then the new terms can be discussed post the expiry of the current one.
Thanks
Ajay
From: Kuldeep Sharma [mailto:
Sent: 26 October 2017 10:35
To: 'Office MD' <>; ; 'Viney Singh' <>; 'Mukesh Chauhan' <>; 'Ajay Kapoor' <>;
Cc:; ; 'Saveen Sharma' <>; 'Rajendran KP' <
Subject: RE: Turner Road update
Dear All,
Kindly advise on the matter.
Should we meet the new owner on Nov 03, 2017 for the discussions on the License Agreement.
Regards
KULDEEP KUMAR SHARMA
Head – Legal
Fabindia Overseas Private Limited
2nd Floor, C-40, Phase-II,
Okhla Industrial Area,
New Delhi – 110020
Tel: +91-11-40692000 Extn: 2057
Mobile: +91-9990274447
Email:
Website:
From: William Bissell [mailto:
Sent: 25 October 2017 10:06
To: Harpreet Duggal <>
Subject: FW: Turner Road update
RA – CEO
My best,
William
From: Kuldeep Sharma <
Date: Monday, 23 October 2017 5:26 pm
To: William Bissell <>, Charu Sharma <>, 'Viney Singh' <>, Mukesh Chauhan <>, 'Ajay Kapoor' <>, <
Cc: >, <>, Saveen Sharma <>, 'Rajendran KP' <
Subject: RE: Turner Road update
Dear All,
As mentioned by Rajendran in the mail below, the turner Road property has been sold to Y M Infra by SICOM.
This is the same investor, whom we met in July. During our last meeting, the representative of the investor Mr. Atif told us that they are expecting Rs. 15 lac as fixed license fee. They are not interested in the revenue share part.
As Rajendran has mentioned, the investor wants to meet us on November 02, 2017 to discuss the terms of the License.
To our view, we can meet the representative of the investor and understand from them on their current expectations. I would want to meet the investor along with Rajendran for the discussions on November 02, 2017.
We have requested Rajendran to share the details of the payable license fee for the last 12 months, so that we may understand the impact of the demand from the investor/new owner.
If the investor sticks to 15 Lac, how far can we go in our negotiations.
Request you all for your kind advise in the matter.
Regards
KULDEEP KUMAR SHARMA
Head – Legal
Fabindia Overseas Private Limited
2nd Floor, C-40, Phase-II,
Okhla Industrial Area,
New Delhi – 110020
Tel: +91-11-40692000 Extn: 2057
Mobile: +91-9990274447
Email:
Website:
From: Mukesh Chauhan [mailto:
Sent: 23 October 2017 13:29
To: 'Rajendran KP' <>;
Cc:; ; 'Saveen Sharma' <>; 'Viney Singh' <>;
Subject: RE: Turner Road update
Dear Kuldeep
Pls advise Rajendran on how to take this forward.
Regards
Mukesh Chauhan
Group CFO
overseas Private Limited
C-40, 2nd Floor, Dayal Estate, Okhla Phase-2,
New Delhi-110020
Tel: +91-09350184802, 011-40692059
Email:
Website :-
From:Rajendran KP [mailto:
Sent: 23 October 2017 13:10
To:
Cc: 'Mukesh Chauhan' <>; ; ; ; 'Saveen Sharma' <>; 'Viney Singh' <
Subject: RE: Turner Road update
Importance: High
Dear Mr.Mukesh
A few minutes back I got a call from Mr.Atif of Y.M.Infra private limited, mentioning that they have purchased the turner road property from sicom.
Kuldeep and I had met with Mr.Atif a couple of months back when the discussion were on. Now Mr.Atif wants to have a meeting along with sicom team on the 2nd of November 2017 at their office at nariman point between 11.30 am and 12 noon.
Kindly advice on the same at the earliest so that I can then confirm with Y.M.Infra. regardsrajendran
From:Rajendran KP [mailto:
Sent: 22 August 2017 15:04
To: 'Kuldeep Sharma' <
Cc: 'vijaikapoor' <>; '' <>; 'Mukesh Chauhan' <>; '' <>; '' <
Subject: RE: Turner Road Representation
Importance: High
Dear kuldeep
Today the cover letter along with the copy of the representation filed has been sent to the concerned officials. The copy attached for your records .regardsRajendran.
From:Rajendran KP [mailto:
Sent: 19 August 2017 14:03
To: 'Kuldeep Sharma' <
Cc: 'vijaikapoor' <>; '' <>; 'Mukesh Chauhan' <>; '' <>; '' <
Subject: RE: Turner Road Representation
Importance: High
Dear kuldeep
Today I met the inspector chormale and handed over the representation letter to his office and obtained the acknowledgement. The copy of the acknowledgement is handed over for your reference. As regards sending the copies to the other offices, can I hand it over at the police station and get the acknowledgment or do I have it send it by registered post only. Because When I spoke to the inspector chormale he said that the same can be handed over at the bandra police station itself and only for the police commissioner it need to be sent to his office at Fort/cuffeparade. Please advice on the same. The inspector said that he will revert back on the representation letter handed over to him soon. Regards Rajendran.
From: Kuldeep Sharma [mailto:
Sent: 18 August 2017 14:20
To: 'Rajendran KP' <
Cc: 'vijaikapoor' <>; ; 'Mukesh Chauhan' <>; ;
Subject: RE: Turner Road Representation
Dear Rajendran,
As discussed, please find attached the revised version of the Representation.
This you may submit in hand against a receipt, at the police station with the police station in charge. Also send a copy to the Police Station Incharge through registered post.
Please sign and stamp on all the pages of the representation.
Also we need to send the copies of the representation to the following via registered post.
1-ACP-Bandra
2-DCP-Bandra
3-Police Commissioner,Mumbai
For sending copies to the above, please send the copy of the representation under the covering letter, of which a draft is attached hereto.
In case you need any clarification in this regard, do call us.
Also please send a copy of the original signed representation, the postal receipts and the acknowledgment of receipt from the police station, to us.
Regards
KULDEEP KUMAR SHARMA
Head – Legal
Fabindia Overseas Private Limited
2nd Floor, C-40, Phase-II,
Okhla Industrial Area,
New Delhi – 110020
Tel: +91-11-40692000 Extn: 2057
Mobile: +91-9990274447
Email:
Website:
From:Rajendran KP [mailto:
Sent: 12 August 2017 11:11
To: 'Kuldeep Sharma' <
Cc:; 'Mukesh Chauhan' <
Subject: RE: Turner Road Representation
Importance: High
Dear kuldeep
Just to remind you that I have not gone ahead and handed over the representation letter as you had told me that you will be revising the same and sending me a new draft. Regards Rajendran.
From: Kuldeep Sharma [mailto:
Sent: 10 August 2017 14:17
To: 'Rajendran KP - RFH BOM' <
Cc: 'vijaikapoor' <>; ; 'Mukesh Chauhan' <>; 'Vanessa Singh' <>; 'Satyajit Sarna' <
Subject: Turner Road Representation
Dear Rajendran,
As discussed, please find attached the final draft of the representation to be filed with the local police, Bandra.
Please fill the rent details in clause 6 (f), before printing. Also the copies of all the previous letters as mentioned in the representation, are to be annexed to the representation.
This you may submit in hand against a receipt, at the police station with the police station in charge. Also send a copy to the Police Station Incharge through registered post.
Please sign and stamp on all the pages of the representation.
Also we need to send the copies of the representation to the following via registered post.
1-ACP-Bandra
2-DCP-Bandra
3-Police Commissioner,Mumbai
4-Director General of Police Maharashtra.
5-Principal Secretary Home, Maharashtra
6-Chief Secretary Maharashtra
For sending copies to the above, please send the copy of the representation under the covering letter, of which a draft is attached hereto.
In case you need any clarification in this regard, do call us.
Regards
KULDEEP KUMAR SHARMA
Head – Legal
Fabindia Overseas Private Limited
2nd Floor, C-40, Phase-II,
Okhla Industrial Area,
New Delhi – 110020
Tel: +91-11-40692000 Extn: 2057
Mobile: +91-9990274447
Email:
Website: