Anurag Aggarwal 27 February 2016

Midc - difference between subletting & sub leasing

Dear Sir (s)

We have taken an Industrial Land at 95 years lease at MIDC Amravati. We have surplus land and our operations are running.

We propose to set up a subsidiary Company in the same premises.

After going through the MIDC website, there are 2 different options available:

1. PROFORMA OF APPLICATION FOR SUBLEASING - https://services.midcindia.org/services/FillFormAnon.aspx?AMId=45

2. PROFORMA OF APPLICATION OF SUB-LETTING

https://services.midcindia.org/services/FillFormAnon.aspx?AMId=41

Request you to please help in understanding the difference between sub-leasing and sub-letting specific to our case.

The intention to understand the same is as we have already availed the term loan for our existing operations and have mortgaged the land to banks. For either of the above arrangements we will have to seek a NOC from our existing banks.

From banker's end what shall be the arrangement they will be comfortable with either sub-lease or sub-letting.

Thanks,

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3 Replies

(Guest)

FIrst rule in such case is to study The Lease Deed then next question which comes whether Sub leasing or sub letting is allowed in your case.

After this only we can comment. Although the lease deed are standard but still there can be variation as rules regarding deed changes and even format from time to time.

So if possible hiding personal details of your deed , Hiding registration no. of deed kindly upload the format of the deed so comments can be passed after studying

Else please tell some typist to type deed on computer and show us the deed which your company have signed.( Without mentioning personal details)

Then only i prefer to study in detail and reply