Cancellation of registered lease agreement in Sub-registers office
This is inform you that I am having a Industrial plot out of which 5000 sq. ft approx. of land was been given for a factory manufacturing of mineral water plant.
Agreement with the tenant :-
1. Total Lease Period is for 14 yrs (Out of which 4 yrs as been passed).
2. Construction of the shed as per the ISI requirement to be made by the Tenant for own use with its own funds not the land owner.
3. Lease Period term is divided in 3 parts 1st for 7yrs, 2nd for 3yrs and 3rd for 4yrs (TOTAL FOR 14 YEARS).
3. Deposit is 1 lakh.
4. Rent:- 1st 7yrs rent discussed is 10,000/- out of which only 5,000/- to be paid and remaining 5,000/- to be deducted towards the construction cost for 7yrs. After completions of 7yrs the whole constructed site(non - movable only) living the Machinery will be the land owner's property. Next after 7yrs ie., 8,9 & 10th yr. Rent will be 20,000/- and after completing 10yrs in the 11th yr. New agreement with new deposit, rent will be discussed for next 4yrs with new agreement.
This is the agreement conditions.
Now financial conditions:-
* Loan taken by the tenant from SBI is 70 lacs towards the project.
* In past 4 years only part payment & interest is paid to SBI, Balance loan till date is 92 lacs.
My problems are:-
* My tenant has not paid me the deposit of 1 lacs.
* My tenant has not paid me rent for passed 4 yrs.
* The banker has considered this unit as NPA passed 18 months & filed a suit against my tenant & also gave a Newspaper notice with 60 days to settle down the account.
*Banker is planning to seal their machinery with accessories (only movable) & sale this unit to a person who is Interested in running this same unit with new lease agreement with me.
* Now I'm ready to live my 4 yrs rent because the industrial shed constructed by my tenant is on my land which is (Non-movable).
* Now how can I cancell the registered lease agreement which is registered in Sub-registers office, if my tenant doesn't come & co-operator with me for cancellation of lease agreement
Kindly advice me the legal way to cancell the lease agreement.