I have a Indian Oil Petrol Bunk RO since 1970. I solely own the land. I want to quit the bunk and promote the land for something else. How do I do it. Many are saying that if you close the bunk you have to sell it only to Indian Oil and you can not do any other business there. is it so.? kindly help.
In the agreement it says if we want to quit "The company has the right to purchase the property at the rate at which we got for a price which shall comprise a sum equivalent to such capital monies as the dealer may have paid by way of premium or price as consideration for the acquisition of the site or premises. " I think it means I have to sell it at the purchase price which is way lower than current market price.
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