cpc

cgtmse


I have rented out my industrial shen to the company who have CC limit under CGTMSE scheme. Now the company have become NPA and is not paying any installment to the Lender as well as to me towards my rent. The company is still using my premises to store the raw materials ,machines and finish goods.

What will be the position of my premises if the Lender starts proceedings to recover the loaned amount. I have not signed any gurentee and or given the papers of my premises as coleteral.

Please advise me what to do.

Thank you

Regards.

 
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+ 91 9225510883

Hi,

Firstly send a legal notice to the company (tenant) mentioning the due amount and the consequences of non-payment of the same.

Mention about the ultimatum of period for the payment or the license agreement shall be terminated and after the termination the company shall be treated as tresspasser in your premises.

You should have no concern with the source of the payment from where your tenant is getting the funds.

Adv. Yogen Kakade

Jurycon Incorporation (Pune)

Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in  

 
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You must give legal notice for due payment and subsequentlly you can file suit for eviction of said tenants if tenant failed to pay due payment within notice period despite legal notice.

You must issue rent receipts to him whether you have prepared / registered any rent agreement or not.

 
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Thank you for guidance...I have already given notice to my tenent but my main worry is what will happen to my premises if the tenent defaults the repayent of the loan under CGTMSE. will the Bank have any right to recover the money by attaching my premise,which is not given to bank as coleteral security or as a gurentee or can Bank seal the premises because the machinery is lying in my premises along with raw materials and some finished goods.

Regards

 

 
Reply   
 
+ 91 9225510883

Hi,

Don't worry.. the bank shall not and can not attach property for the recovery of the dues of your tenant.

Adv. Yogen Kakade

Jurycon Incorporation

Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in  

 
Reply   
 

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