Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.CIRCULARPROPERTY CELL/HO/RB/02/765March 3, 2003.ALL REGIONAL OFFICESKind Attn. :__________________DGM / RMRe : Renewal of lease agreements of office premises.We are constrained to draw your attention to the repeatedly delayed references to HO of proposalsinvolving renewal of lease agreements in respect of our offices premises.Many times the matters are intimated after the expiry of the lease period leading to accumulationof arrears of rent & also placing us at a disadvantage while enforcing renewal terms of leaseagreement.You would appreciate that being a commercial organization it would be in our interest to bevigilant & prompt on property proposals, as such lapses may have financial & legal implications.In some cases we may have to fix responsibility for such delays.We would therefore advise utmost cautions & vigilance while dealing with renewal of leaseagreements by ensuring timely action with proper follow up with property owners.Please confirm having circulated the above to all offices under your control & ensure expeditioushandling of aforesaid matters by the concerned officials.( A. V. MURLIDHARAN )ASST. GEN. MAMAGER60 MANUAL ON PROPERTY