My mother owns a shop in New Delhi. I am the registered POA and have the rights to enter into agreement on my mother's behalf. I gave it on rent and entered into a registered agreement on 15th October 2015. Agreement details:
- the monthly rent - 15K,
- 2 months deposit (15K in received cash and a cheque of 15K)
- Electricity charges to be paid by tenant
- Agreement duration - 22 months with a 11 month lock in period.
Additionally, I have also taken 6-7 PDCs for rent from tenant to ensure that I don't have to go to personally collect the cheque.
Facts of the case:
1. The cheque for security deposit (mentioned in the agreement) is dated 15 Oct 15. However, I have not banked it yet; as the tenant requested to bank it on 1st Dec 15.
2. For the first month (15th Oct - 14 Nov) - The rent was received in Cash
3. For the second month (15 Nov - 14 Dec) - I banked the cheque on 23rd Nov. However, it bounced on 24th Nov; due to in-sufficient funds. The tenant then deposited the rent to the account on 28th Nov.
4. I banked the security deposit cheque on 2nd Dec. However, it has bounced as well.
5. Along with the 15K rent, I told him to deposit 2440 for electricity (550 for Oct and 1890 for Nov). He has not deposited inspite of me sending him msgs and email.
7. He intends to vacate the shop.
8. I spent 11K on brokerage and agreement, which is a loss; if he vacates.
9. The agreement says, if he wishes to vacate before lock in, he will have to pay 11 month rent
Please advise with the best course of action in this case. Options of actions I may take, potential result of the case, time it may take; if taken legal way, pros and cons and expected expenses.
