Dear Mr. Raj Kumar,
Thankyou for your quick reply. But there were a few things which I wanted to clarify.
The agreement states -
In the event of the License fees having remained unpaid for a period in excess of 30 days, then in that event the Licensee shall be liable to pay to the Licensor the outstanding and unpaid fees along with interest thereon @24% p.a. for the defaulted period, which if not paid by the Licensee to the Licensor, then in that event, the Licensor shall be entitled to call upon the Licensee to effect the payment of outstanding License fees along with interest thereon as provided herein above within further period of 15 days which if not paid, then in that event, this Agreement shall stand terminated and/or cancelled without any further acts, deeds or things on the part of the Licensor and Licensee shall be responsible and liable to hand over quite, vacant and peaceful possession of the licensed premises to the Licensor forthwith. The agreed damages payable by the Licensee to the Licensor under this event shall be as stipulated in clause 16 II (b).
16 II (b) The agreed damages payable by the Licensee to the Licensor shall be an amount which is equal to the aggregate amount of license fees or compensation and other amounts which, but for earlier revocation of this Agreement, would have been payable by the Licensee to the Licensor for the unexpired period of the lock-in period or for the un-served notice period of three months, as well as any penalties, fines or amounts due to the licensor for breach of any terms of the agreements, besides any fees and any charges incurred to recover the same.
As the agreement states that there is a period of 30 days after which I can send the notice so would it be possible to do what you are saying ? I.e. send him the notice immediately because he is paying late every time ?
Also the damages stated are 'amount which is equal to the aggregate amount of license fees or compensation and other amounts which, but for earlier revocation of this Agreement, would have been payable by the Licensee to the Licensor for the unexpired period of the lock-in period', so would it be possible to recover the license fees of the unexpired lock in period ? (I.e. for the remaining 1 year 3 months of the lock in period that is still left) ?
This time for the first time I did send him a notice under section 138 NI Act and some lawyer told me I need to wait for 15 days from the date I have sent the notice to initiate a court proceeding and some told me 21 days from the date I have sent the notice. What is the actual law ?