our company has made rent agreement with directors on stamp paper of rs 100/- duly notorised for 5 year however we want to discontinue this rent agreement after 2 years, but company will use office taken on rent from director(mean to say director has given company to use his property without rent) so now how effect of rent agreement can be nullify. whether we can make board resolution for this purpose / has to make new deed to nullify rent agreement(if so please send me formate for same)
pleas reply if there is any soluition
You can prepare deed of rectification. You will rectify the previous rent agreement from 5 years term to 2 years term.
can retrospective effect be given in rectification deed ?
SSGS and Associates
Chennai
CA Inter
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