Property Legal

Property Legal

(DUE DILIGENCE, DRAFTING, NEGOTIATION, EXECUTION, DELIVERY)

Strategy:

• To understand expectations well.
• Work closely with internal team.
• Use of resources efficiently.
• Use of IT/technology for best results.
• Innovation.
• Transparency.
• Work as an extension of Tata Group.

Process:

• Heads up on properties to be signed, locations, timelines, etc. i.e. Annual target, Quarterly update (Any change), Monthly update (Exact numbers).
• Drafting of Term-sheet, MOU, Lease, Revenue Share, Option, etc.
• Coordinating with landlords to receive documents.
• Due diligence, title verification, joint measurement, etc.
• Negotiation.
• Coordinating with landlords for the execution and registration of agreements.
• Arrange smooth handover.

Approach:

• Tata Code of Conduct.
• Work with the internal team closely - Advantage of In-house counsel and external counsel both.
• Flexibility to adopt and support any change in targets.

Target:

Work seamless with internal and external resources to achieve company’s targets in best ethical way.

Review:

Quarterly review of performance on some defined indicators like:

• Cost
• Timeline
• Quality
• Compliance

Feedback:

• Regular feedback on performance and expectations, etc.
• Innovation with adaptation of technology at minimum cost.

Continuous Improvement:

• Continuous improvement in the process
• Testing resources
• Use of technology

(Documentation):

• MOU (First Draft) - 12 hours from receipt of mail from the Property Team.
• MOU (Revision incorporating LL comments) - 12 hours from receipt of the email to that effect
• Agreement (First Draft) - 24 hours from receipt of mail from the Property Team
• Agreement (Revision according to landlord’s comments) - 24 hours from receipt of the email to that effect
• Minor amendment to any document - 1 hour from receipt of the email to that effect