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P ARIMAL

P ARIMAL. K. SHROFF. & CO. DUE DILIGENCE. Advocates, Solicitors & Notary Mumbai, India. What is TITLE? The concept of MARKETABLE TITLE. The covenant “free from encumbrances” in the standard Conveyance. The duty of disclosure on the part of the Seller under the law.

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P ARIMAL

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  1. PARIMAL K. SHROFF & CO DUE DILIGENCE Advocates, Solicitors & Notary Mumbai, India

  2. What is TITLE? • The concept of MARKETABLE TITLE. • The covenant “free from encumbrances” in the standard Conveyance. • The duty of disclosure on the part of the Seller under the law. • The Right of Title in India. • What amounts to deducing the Title? 2 Parimal K. Shroff & Co.

  3. DUE DILIGENCE ØWhat is Due Diligence ? • Due Diligence on the OWNERSHIP. ØDue Diligence on the OWNER. ØDue Diligence on the TRANSACTION. 3 Parimal K. Shroff & Co.

  4. TYPES OF DUE DILIGENCE ØProcedural Due Diligence ØAccounting Due Diligence ØCorporate Due Diligence ØEnvironmental Due Diligence (CRZ /Mangroves) ØStructural Due Diligence ØPlanning Regulation Due Diligence ØDevelopment Potential Due Diligence 4 Parimal K. Shroff & Co.

  5. TITLE DUE DILIGENCE • STATUTORY DUE DILIGENCE • REGULATORY DUE DILIGENCE 5 Parimal K. Shroff & Co.

  6. DUE DILIGENCE- When AGREED upon • DUE DILIGENCE - When document is SILENT • . Parimal K. Shroff & Co. 6

  7. TERMS TO BE PROVIDED IN THE AGREEMENT REGARDS TITLE • Production of Title Deeds • How Title is to be made out? • What Title is to be made out? • Whether it is to the satisfaction of Advocate of Purchaser? • Provision for answering requisitions • Time for answering requisitions • Acceptance and Rejection of Title • Rescission Clause of the Vendor or Purchaser • Refund of monies received by the Vendor 7 Parimal K. Shroff & Co.

  8. DUE DILIGENCE in case of: • Private Limited Company • Public Limited Company • HUF • Partnership Firm • Membership of Cooperative Society Contd. .. 8 Parimal K. Shroff & Co.

  9. Individual with matrimonial dispute • Minor • Person of unsound mind • Lady as Vendor • Association of Persons • Company in liquidation • Cooperative Society Contd. .. 9 Parimal K. Shroff & Co.

  10. Government Body for government as Vendor • Government Land • Municipal Land • Grant Land • Agricultural Land • Listed Properties 10 Parimal K. Shroff & Co.

  11. IMPORTANCE / NECESSITIES OF : • Public Notice • Searches in the office of Sub-Registrar of Assurances • Revenue Records • Municipal Record • Tax Due Diligence Parimal K. Shroff & Co. 11

  12. PARIMAL K. SHROFF & CO THANK YOU Advocates, Solicitors & Notary Mumbai Office: Rustom Building, 29, Veer Nariman Road, Fort, Mumbai 400 023, INDIA Phone: 22023297 / -3317/ -3411 Fax: 22024051 Email: parimal@parimalshroff.com

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