I have a lease with Indian oil in 2002 with automatic clause the language is lease deed is
"The lessors agrees that at the expiration of the said terms of 19 years 11 months, This lease will be automatically and without further act of any parties hereto be renewed for further period of 10 years from the last mentioned term, unless the lessee shall prior to expiration of last mentions term,give to lessor one calendar months previous notice in writing of its intention not to take any renewed lease. the renewed lease will be at the commencement of the renewal period and on the same convents ,conditions and agreement including the present covenants for renewals. after the expiration of 30 years lease periods, the lease will be renewed at the mutually agreed terms and conditions as decided between lessors and the lessee".
My question is that :
1. What is validity of lease period 19 years 11 month or 30 years periods?
2. Can Indian oil increase the rent after expiration of initial lease terms?
3. Can we vacate the above land property after expiry of first terms or challange in court by specific suits?
I had given my valuable property to Indian Oil on very nominal rent so I want to vacate the premises before or after the 19 years 11 months.
Please Guide me accordingly.
