Plot No. 391B, Road No.
81,
Film Nagar, Jubilee Hills,
Hyderabad – 500 096, India
T: +91 40 2363 5600
F: +91 40 2363 5617
E: hyderabad@[Link]
To
VEH Global India Private Limited, 20th
November 2024
9th Floor, My Home Twitza, Plot No 30/A,
TSIIC Hyderabad Knowledge City, Raidurg,
Hyderabad, Telangana – 500 081
Kind Attention: Mr. Vinay Kumar Pabba
A. OBJECTIVE:
M/s VEH Global India Private Limited (the “Client”) has instructed us to scrutinize the
title of lands in Alvandi village, Alavandi-Hobli Koppal Taluk, Koppal District Karnataka in
Sy No. 392/3 admeasuring 6 Acres 02 Guntas (“Scheduled Property”)
B. BUSINESS OF THE CLIENT:
M/s VEH Global India Private Limited is a portfolio company of Macquarie’s Green
Investment Group (GIG) operating on standalone basis and premier developer and owner
of renewable projects. VEH Global as part of its business activity usually acquires / leases
agricultural land for setting up wind plants after the conversion of the land use by the
relevant government authorities. The Client for the purpose of installing solar plants for
the generation of electricity is acquiring the lands as such the land owners have
approached the client to sell Scheduled Property.
C. DOCUMENTS EXAMINED:
For the purpose of conducting the title due diligence on the Scheduled Property we have
been provided with various title documents and Records of Rights (RTC’s) along with
entries of Mutation Register relating to the Scheduled Property and have provided our
observations accordingly in this Report regarding the ownership, trace of title and
Encumbrances (if any) for the period of little more than thirty years (1992-2023).
We have relied on the photocopies of Record of Rights issued in form 16 and maintained
Mandal offices. The same are prepared as per Section 127 of Karnataka Land Revenue
Act 1964 and the relevant extracts of Mutation Register maintained by the Tahsildar of
relevant Taluk and prepared under Section 129 of Karnataka Land Revenue Act 1964
more fully described in List of Documents below. As a practice while conducting title due
diligence of agricultural lands we conduct review of records for a period of 30 years prior
to the date of our report.
D. TRACE OF TITLE:
For the purpose of the title diligence we generally restrict our search to a period
of 30 years prior to the date of this Report.
1. The RTCs for the period of 1993-1994 till 1999-2000 reflects the name of
Mr. Shanmugappa Son of Mr. Hampappa Kalagatti as the owner and
possessor of the land bearing Survey No. 392/A admeasuring Ac 6.02gts
of Alvandi village, Alavandi-Hobli Koppal Taluk, Koppal District Karnataka.
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2. We note from RTC’s for the years 2000-01 to 2009-10 the name of
Ningayya s/o Patrayya Tamragundi is reflected as owner and possessor
for land in Sy no. 392/A admeasuring Ac 6.02gts of Alvandi village,
Alavandi-Hobli Koppal Taluk, Koppal District Karnataka.
JSA Note: we have not been provided with certified copies of
RTC’s for the period 1988-90 to 1993-1994 for our review.
Please provide us the mode and manner along with the
documentary evidence by which Mr. Ningayya acquired title over
the property bearing Survey No. 392/A measuring to an extent of
6 Acres 2 Guntas from Mr. Shanmugappa.
3. We note from RTC’s for the years 2010-11 to 2017-18 the name of
Ningayya s/o Patrayya Tamragundi is reflected as owner and possessor
for land in Sy no. 392/A admeasuring Ac 6.02gts of Alvandi village,
Alavandi-Hobli Koppal Taluk, Koppal District Karnataka.
4. As per the MR T188/2018-19 we note that land in Sy no. 392/A measuring
Ac 6.02gts, 392/AA measuring Ac 3.01 gts and land in Sy no 392/E
measuring Ac 3.01 gts were sub divided vide the order of the ADLR dated:
29/11/2018. As per the sub division we note the following:
a. Land measuring Ac 3.01 gts held by Devappa was allotted with new
Sy no. 392/1.
b. Land measuring Ac 3.01 gts held by Jambanna was allotted with
new Sy no. 392/2.
c. Land measuring Ac 6.02gts held by Ningayya was allotted with Sy
no. 392/3
5. We note from RTC’s for the years 2018-19 to 2022-23 the name of
Ningayya s/o Patrayya Tamragundi is reflected as owner and possessor
for land in Sy no. 392/3 admeasuring Ac 6.02gts of Alvandi village,
Alavandi-Hobli Koppal Taluk, Koppal District Karnataka.
D. ENCUMBRANCES:
Based on the perusal of the Encumbrance certificates dated: 08/11/2022 and
07/11/2022 for the years 01-04-1993 to 31-03-2004 and for the period 01-04-
2004 to 07-11-2022 we note that there are no mortgages pending Scheduled
Property.
E. LITIGATION:
On verification of the information available online in the portals of District Courts and
High Court of Karnataka and the Supreme Court of India, we did not find any pending
litigation with respect to the Scheduled Property.
JSA Note: While we have conducted online searches, it is advisable to obtain
specific covenants in the Lease Deed/ Sale Deed confirming that the Schedule
Property is not affected by pending Litigations. Appropriate indemnities may
also be sought from the landowners.
F. OWNERSHIP OF TRIBALS:
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To confirm the Ownership of Schedule Tribe and Schedule Caste, an Endorsement shall
be issued by the concerned statutory authorities stating that no proceedings have been
initiated under the provisions of Karnataka Schedule Castes and Schedule Tribes
(Prohibition of Transfer of certain Lands) Act, 1978 with respect to the Schedule Property.
We have seen an Endorsement 17.11.2022 stating that no proceedings are initiated or
pending under Karnataka Schedule Castes and Schedule Tribes (Prohibition of Transfer of
certain Lands) Act, 1978 with respect to Schedule Property.
G. CONVERSION TO NON-AGRICULTURAL USE
As per the Section 95 of the Karnataka Land Revenue Act, 1964 any agricultural land
before the same is used for Non-Agricultural purposes shall have to be converted. We
have not been provided with the Conversion Order confirming the Conversion of the
Schedule Property from Agricultural to Non- Agricultural purpose.
JSA Note: The client is advised to procure the conversion of land use
converting the Schedule Property prior to using the same for Non-Agricultural
purposes.
H. LAND HOLDING:
As per Section 109 of the Karnataka Land Reforms Act, 1961, (Karnataka Act 10 of 1962),
no industrial undertaking shall be entitled to hold or acquire land in excess of the ceiling
area. As per Section 109 of the Karnataka Land Reforms Act, 1961 an
industrial/commercial (company) undertaking was allowed to hold ten units of land.
JSA Note: We have been informed that the client would procure an order under
Section 109 prior to acquiring land in excess of ten units as permitted under
the Karnataka Land Reforms Act, 1961.
I. OPINION:
In light of our comments and observations made above, on the basis of the
documents provided for our review as is stated in this Report and subject to the
qualifications and assumptions stated, we are of the opinion that as on the date
of this report the Scheduled Property is owned by Ningayya s/o Patrayya and
have a good and marketable title and do not hold surplus land.
JSA Note : The title of the present owners will be confirmed upon
receipt of pending documents.
Yours sincerely
For JSA
Deepak Chowdhury
Partner
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LIST OF DOCUMENTS:
[Link]. Date Description Original/
Photocopy
1. 1. Survey Sketch concerned to Sy. No. Yet to receive
392/E
2. -------------- 2. RTC’s for the period 1989-90 to 1994-95 Yet to receive
3. ------------ 3. RTC’s for the period 1995-96 to 1999- Photocopy
2000
4. -------------- 4. RTC’s for the period 2000-01 to 2004-05 Photocopy
5. -------------- 5. RTC’s for the period 2005-06 to 2009-10 Photocopy
6. -------------- 6. RTC’s for the period 2010-11 to 2014-15 Photocopy
7. -------------- RTC’s for the period 2015-16 to 2019-20 Photocopy
8. -------------- RTC’s for the Period 2020-2021 to 2022- Photocopy
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9. -------------- MR T188/2018-19 Photocopy
10. 17.11.2022 PTCL Endorsement Photocopy
11. 9.1.2023 Tax paid receipt Yet to receive
12. 08/11/2022 Encumbrance Certificate for 01/04/1993 Photocopy
to 31/03/2004
13. 07/11/2022 Encumbrance Certificate for 01/04/2004 Photocopy
to 26/08/2022
14. 01.03.2023 NA Certificate Photocopy
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QUALIFICATIONS AND ASSUMPTIONS:
(i) Our opinion is specific to the facts referred to herein, and may be relied upon only
by the addressee hereof and not by any other person. This opinion should not be
assumed to state general principles of law applicable to transactions of this kind.
(ii) We are relying upon relevant provisions of the jurisdictional laws and customary
practices including judicial and administrative interpretations thereof, which are
subject to change or modification by subsequent legislative, regulatory,
administrative, or judicial decisions. Our opinion is based on our understanding of
the law and regulations prevailing as of the date of this opinion. However, our views
are not binding on any authority or court of law, and hence there can be no
assurance that a position contrary to the opinions expressed herein will not be
asserted by any authority and/or sustained by an appellate authority or a court of
law. Further, we can give no assurance that Indian laws, or judicial and
administrative interpretations thereof, will not change. Any such changes could
have an effect on the validity of our conclusions.
(iii) Whenever our opinion, with respect to the existence or absence of facts, is qualified
by specific phrases or a phrase of similar import, it indicates that except as
explicitly stated in the report we have not undertaken (and will not undertake) any
independent investigation to determine the existence or absence of such facts.
(iv) There are no facts or circumstances in existence and no events have occurred,
which render any of the documents void or voidable, or repudiated or frustrated, or
capable of rescission for any reason, and in particular but without limitation by
reason of the lack of consideration, default, fraud or misrepresentation.
(v) No opinion may be inferred or implied beyond the matters expressly stated herein
and no portion of this opinion may be quoted or in any other way published without
our specific prior written consent.
(vi) We express no opinion or belief as to the financial data or schedules derived
therefrom, included in or incorporated by reference into the documents provided to
us.
(vii) Our analysis is based solely on the softcopies of the documents furnished to us. We
assume, for the purpose of this opinion that all facts and documents provided to us
are accurate and correct. We have assumed the competency of the signatories to
executed documents provided to us, the genuineness of all signatures, the
authenticity of all documents submitted to us, the conformity to original documents
of all documents submitted to us as softcopies, and the accuracy and completeness
of all records made available to us.
(viii) We have assumed that all executed documents provided to us (i) were properly and
validly executed and delivered by the parties thereto; (ii) were within their powers;
(iii) were their legal, valid and binding obligations; (iv) were in compliance with all
applicable laws, rules and regulations governing the transactions; and (v) such
extracts contained an accurate and complete details thereof and that the same
continues to be valid and in full force.
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(ix) No legal due diligence of Client in relation to the business, operations and assets
has been undertaken by JSA.
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