UCO bank litigation update – Last evening, office bearers walked across to the office of advocate Nixon at BKC. To give a history of UCO bank at Patrakar – Our forebearers had let out our community hall to UCO bank way back in 1986. The mandate of the collector then was that we must let out the premises only to a nationalised bank. 

We have been having a smooth relation with the bank till 2022. As per our agreement with the bank, the rent would automatically stand increased by 25% every five years.  

However, in 2022, the bank refused to pay the increased rent of Rs 2,25,000 per month from the earlier Rs 1,80,000. Repeated letters to the management were of no avail. Hence, in June 2024, we filed a case against them to recover the arrears. 

The update given by the lawyer yesterday is that the best option now is eviction. Once we give the advocate the LOI / DA of our redevelopment, he will begin the process which will take 3 months. He says UCO bank will have no option but to move out. Probably, developers are also not very concerned with the UCO bank litigation case as they will have their battery of lawyers to process the eviction. Till such time, he said it is best to do nothing.

The bad news here for us is that we will lose that income for about 8 months or so till we vacate. The good news is we can go back to old times of carrom, table tennis and dandiya!