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Msrpc/02/Cu/ /114
Date : 1/03/2016
Maharashtra State
To
” Road He
Hotel Fook Se
Neelkanth Market, (Aeron Mates Untaig
M.GRoad,
Ghatkopar (East),
Mumbai - 400 077.
Sub : Leasing of built up footdmall at Taje, Tal. Maval, Dist. Pune on Ee
Mumbai - Pune Corridor along Yashwantrao Chavan ES
Expressway sk
Ref : 1) Your letter dt. 2/11/2015
2) MSRDCs letter no. MSRDC/02/CU/MPEW /504 dt. 25/01/2016 \
You are aware that in the meeting held on 14/08/2015 you had given an \)
assurance to clear all outstanding dues together with interest on delayed payment
and service tax as per terms and conditions of the contract and accordingly you
submitted nine post dated cheques amounting to Rs.1.30 Crores towards
outstanding dues vide your letter under ref at (1) above. Out of them two cheques
were cleared and two cheques bearing n0.000219 dated 26/12/2015 and 0.000220
dated~ 31/12/2015 amounting to Rs.10,00,000/- each when presented for
encashment, were returned back by the Bank with a remark “Insufficient Balance”.
You however transferred an amount of Rs.8,00,000/- on 04/01/2015, Rs.10,00,000/-
on 05/01/2016 and Rs.2,00,000/- on 06/01/2016 through RTGS to MSRDC. Still as
on 20/01/2016 your total outstanding dues were Rs.96,30,223/- which was informed
to you vide MSRDC's letter under ref. at (2) above.
Out of remaining five cheques, one cheque of Rs.25,00,000/- bearing
no.000221 dated 31/01/2016 drawn on Kotak Mahindra Bank when presented to the
Bank for encashment, came to be dishonoured on 3/02/2016 with a remark “Funds
Insufficient” vide its memo received by MSRDC on. 29/02/2016. You are therefore
called upon to make the payment of the dishonoured cheque within fifteen days of
the receipt of this letter failing which action under the Negotiable Instruments Act,
1881 will be taken against you. y—~
Corporate Office : Opp. Bandra Reclamation Bus Depot, Neat Lilavali Hospital, K.C. Marg, Bandra (West), Mumbai - 400 050.
Telephone No,: 022-26400190/201, 2655817576 Fax No.: 022-26417893,
Regd. Office: Nepean Sea Road, Besides Priyadarshini Park. Mumbai - 400 036.
Telephone No.: 022-2368 6112, 2369 6109 9671/3673, Fax Wo.: 022
Website swan marde orp, GIN ; UA5200MH1896SGC10}5gq V°~ 022-2968 4049%®
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It is evident from the above conduct oh your part that you have miserably
failed to comply with the terms and conditions of the contract and also to discharge
your liability as agreed upon between MSRDC and yourselves. You have also failed
to pay the 3* yearly instalment on 14/02/2016. The permission for renovation is
therefore hereby revoked and the-contract is hereby terminated. Termination,
however, will take effect immediately after 30 days from the date of receipt of this
notice and the performance security and security deposit shall then stand forfeited
as per the terms and conditions of the contract.
Yours truly,
wy ay
Chief Administrative Officer
MSRDC Ltd. Mumbai
grt