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Jay Ramakme (GM)     17 November 2014

Need to vacate commercial premises in a mall in mumbai

Hi,

Needed advice. Have a retail space in a mall in mumbai. There is a 36 months lock in period. However the walk ins on our floor are minimum and not able to sustain business. 3 shops around me have shut. I have  a 36 month lock in period currently 11 months are over. 

> Can we vacate the premises before lock in period as we undergoing loss of 2 lacs every month.

> What action can the mall management take on us if we do so.

> Have written more than 10 emails to the mall management about the walk ins issue but there is no response.

> The space has been taken by a single divorced woman and all her finances are over.

Please advice on way forward



Learning

 2 Replies

V M DAHAKE (PROPRIETOR)     17 November 2014

Dear Sir,

Please study the agreement to check if there are any other conditions in agreement that can help you to come out. Else landlord will be in his right to adjust  the deposit towards rent for balance period.

Jay Ramakme (GM)     24 November 2014

I want to know if I leave in 12 months instead of the 36 months lock in can the mall further harrass us and claim rent for 3 years. 

Is that allowed. Currently we are suffering a loss of 2 lacs every month...


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