(i) A lessee to whom a shed has been allotted on lease basis may opt fer out-right sale basis in Form No, JE (12) within a period of three months from the date of publication of these rules in the official Gazettee. On acceptance of option for out-right sale basis the amount of rent paid by him under the lease shall be adjusted towards the cost of shed.
1548 Gi) The allotment of shed on out right sale basis under sub-rule (i) above, shat! be effective from the date on which the entire cost has been paid by the allottee.
(ii) The cost of shed as is arrived at by the Corporation in the manner
(iv) ®) (v5) prescribed in the schedule shall, after adjustment of the amount of the rent already paid by the lessee, be paid by him within a period of two months from the date of demand by the Corporation and in case of his failure to do so, the allotment on out right sale basis shall be deemed to have been withdrawn.
It is not obligatory on the part of the Corporation to accept all the options received for conversion into out right sale basis. TheCorporation shall not accept the option of the lessee if the industry is not running in the shed to its satisfaction.
The lessee who fails to exercise option under sub-rule (1) may during the period of leasc/hire purchase apply for outright purchase of sheds under this rule within a period of six months from the date of publication of this notification No. F. 10 (3) Ind/Gr. H/73 dated 21st September, 1977 in the Rajasthan Rajpatra. The amount of rent deposited so far by way of lease money/hire purchase instalments, shall be adjusted againts the price payable for sheds. Interest will be charged on the outstanding balance amount with effect from 17th September, 1970 at the rates prescribed by the Rules.
Other conditions shall be the same as mentioned in rule (12) above.