Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

raja (owner)     24 October 2015

Ps bank lease period over not checkout

Dear Sir, I own a shopping complex and let out  Nationalised bank for a period of 5 years from jan 2010 to dec 2014. Lease deed is registered for  the above said period. Manager is willing to extend the lease period for next 5 years with minimal rent hike. I m not interested in it. Bank is paying the rent regularly. And i have submitted the termination letter to manager, and request to check out within a period of 3 months (ie before april 2015). Unfortunately bank had never taken any prospective steps for swifting the premises.

Kindly advise me the procedure to check out the bank. Thanks in advance.



Learning

 8 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     25 October 2015

1. Write a suitable letter to the Head Office of the Bank addressed to the Chairman giving full details attaching copy of your Notice to vacate.  Send a copy of it to Bank Branch which is located in your property. Put a copy to their local Regional Office too.

2. Visit the local Regional Office and inform them about our intention to take back the property.

3. Still no result, get a Lawyer's Notice served on the Chairman of the Bank giving additional time of 3 months to vacate.

4. Afterwards, normally Bank comes to negotiate and talk to you. If you are still not interested to extend the lease, even at a hike in rent, inform them in writing.

5. Still no result, file a case against the Bank in the local Court which has the jurisdiction. Ensure that all their Officials from Chairman, Regional Manager to the local Branch Manager are named as Defendants.

1 Like

Advocate Ravinder (Advocate/Attorney)     25 October 2015

I Agree with Sivaram Prasad.

1 Like

(Guest)

i would like to do the below.the above suggestion will make you run behind the bank,instead have the bank come running behind you..

--since this is with a nationalized bank, you have better chances to handle this by RTI

file a RTI and ask for reasons for not able to vacate and for no replies to your request to terminate the lease.
also,file a  complaint with RBI wiht some frivolous cmplaints and do a followup with RTI.
if you have decided to kick them out..just give them the above noises.nationalized banks are already so busy and the above noises will make them consider moving out than to deal with your RTI and RBI complaints.

 

1 Like

(Guest)

no need for a lawyer for the above..just a RTI with string points will get things works out...have done this and it did worked out..

1 Like

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     25 October 2015

Please do not abuse RTI like that. It is not a proper advice.

1 Like

siddhartha sinha   26 October 2015

Honestly. When you let out to public service entity like bank. You are actually bidding it goodbye for a very long period. No court can force to remove a bank as it will cause great inconvenience to local residents there. This outweighs your willingness to let out or not. What does the previous agreement say about increments? If bank is willing to offer on same lines you have no chance against them . If not, try and negotiate.

T. Kalaiselvan, Advocate (Advocate)     31 October 2015

It is  your property and you have all the rights to extend or terminate the lease agreement after expiration of the original agreement.  If the lease period was for 5 years, even if there was a renewal clause, it can be enforced upon mutual agreement only and not that the bank being a public benefit organisation can claim exemption on that basis to extend the lease period arbitrarily.  They  have no right to extend  the lease period on their own.  If  the bank is not agreeing to pay the escalated rent over a period of time especially when the escalation demand was  justified, you may issue a legal notice to the bank to vacate on expiration of the original lease period and you are not willing to extend the lease anymore.  Failing to respond you may file an eviction suit before the rent controller court or  designated civil  court.  

1 Like

siddhartha sinha   03 November 2015

Mr Raja. The route of litigation may be long drawn. Meanwhile please make sure that your conduct after the serving of notice of vacating, does not imply that you are willing to continue. For e.g. if you keep accepting rent it might imply renewal of the agreement.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register