Vacating co-working premises before lock-in period completion due to branch business closure
Dear Sir,
I run a recruitment firm with head office in Chennai and have a branch in Bangalore. We are operating from a co-working space in Bangalore which has a lock-in period. As covid pandemic has caused total loss of Business, we have decided to close our Bangalore Branch. Rents pertaining to April and May has been paid even though the premises were not used. We have given notice to vacate the co-working space in June. But, the management in co-working space are not allowing us to vacate and asking us to pay the rent till the lock-in period as per the agreement signed. Else, they are saying that their legal team will send a notice and pursue the case. They hold a deposit from our end for two months and we have asked them to adjust the same, which, they are refusing to do so. As this situation is unprecedented, but the agreement being signed during normal times, does the lock-in clause still hold good during this pandemic and unforeseen circumstances? Please let me know if get into a legal battle with the co-working space, do we have a chance to win the case? We will not be able to pay the rent till the lock-in period, as their is no business and no revenue.
Regards,
RamaBala