Dear Members need urgent help
My father has given a property (9000 s,ft) to one Company on monthly rent basis. He had executed a Lease agreement on 15-04-2007 for a period of 3 years till 14-04-2010,(un-registered) monthly rent payable of Rs.50000/- with Security deposit of Rs.1 lakh.
In the year 2009, August Month the Tenant Company has requested my father to reduce rent from Rs.50000/- to Rs.37,000/- due to recession of world economic. My father does not know the law he stays in Urban city, Kolar, Karnataka, without my notice/knowledge he has accepted the tenant Company proposal.
The fact is that the Tenant Company had taken this chance and executed (without terminating previous agreement) a fresh Lease agreement for a period of 3 years from 21-8-2009 to 20-08-2012, on monthly rent of Rs.37,000/- and got signature of my father, rather than executing Supplementary Agreement for reducing the rent.
My father was not aware of fresh Lease Agreement scenario, what he thought that this Agreement will be expired on 14-04-2010, that’s it.
My father approached the Tenant Company in the month of May 2010 to increase the monthly rent, but the Tenant Company still they are telling that they are still not come out from the recession and there is no income for them and not ready to increase the rent.
The Tenant Company is involving in wood and all kind of interior service. Nowadays they will be working till late night, due to huge order, I personally cross checked their personnel, they told me that the Company is going very good and increased their wages also.
Now my father has decided to vacate that Company.
Hence I seek learned members advise on how to gohead, as per both lease agreement 3 months notice period is there to terminate the lease agreement.
Can my father refer as per old lease agreement to vacate this said lease agreement? Or
My father has to refer as per fresh agreement to terminate the lease agreement?,
He wants to vacate the Company, please advise which is the best way to move on this issue.
Draft Termination or Vacate notice may be sent to me, because it is helpful for me and my poor father.
I feel that as per old lease agreement he could go-head.
Please need urgent help.
