SECURITY DEPOSIT REFUND AND SETTLEMENT LETTER
Date: 1 April 2026
Place: Bengaluru
From (the Landlord)
X, an individual, of X
PAN: X
GSTIN: X
Email: X
To (the Tenant)
X, an individual, of X
PAN: X
GSTIN: X
Email: X
Subject: Refund of the security deposit and settlement of accounts on the determination of the Lease Deed dated 2 April 2026
Dear Sir or Madam,
1. Background and definitions
1.1 By the Lease Deed dated 2 April 2026 (registered with the Sub-Registrar, Ludhiana, at Serial No. 4521 of 2021) ("the Lease"), the Tenant occupied, on the terms there recorded, the premises described as: X ("the Premises").
1.2 The term ran from 3 April 2026. The Lease came to an end on 4 April 2026 by reason of the expiry of the agreed term.
1.3 In this letter "the Landlord" includes a licensor, "the Tenant" includes a licensee, and "rent" includes licence fee, service charge and any other periodic payment reserved by the Lease. Words in the singular include the plural.
2. Handover of the Premises
2.1 The Tenant delivered up vacant possession of the Premises to the Landlord on 5 April 2026 ("the Handover Date"). The parties carried out a joint inspection of the Premises on 6 April 2026, and the record of that inspection is the agreed record of the condition of the Premises on handover.
2.2 All keys, access cards, parking tags and other access devices issued to the Tenant have been returned to the Landlord.
3. The Security Deposit
3.1 Under the Lease the Tenant paid the Landlord a refundable security deposit of ₹25,000 (Rupees Twenty Five Thousand only) ("the Security Deposit"). It was paid as follows: INR 30,00,000 by RTGS on 2 April 2021 (UTR SBIN321092...) and INR 10,00,000 by cheque no. 004512 dated 15 April 2021.
3.2 The Security Deposit was held by the Landlord as security for the performance of the Tenant's obligations under the Lease. It was not rent, premium or consideration for any supply, and the Landlord did not become entitled to it by reason only of the determination of the Lease.
4. Itemised statement of deductions
4.1 The Landlord has deducted from the Security Deposit only the amounts set out in this clause and any retention expressly provided for in clause 8. No deduction is made otherwise than as set out here or there, and no deduction is claimed as a round or unvouched sum.
— Arrears of rent: ₹25,000 (Rupees Twenty Five Thousand only). Basis and period: X.
— Common area maintenance, society and building charges: ₹25,000 (Rupees Twenty Five Thousand only). Basis and period: X.
— Utilities, including electricity, water, diesel generator supply and fuel: ₹25,000 (Rupees Twenty Five Thousand only). Basis, meter numbers and readings: X.
— Damage and dilapidations: ₹25,000 (Rupees Twenty Five Thousand only). Basis, with the items of damage and the quotation or invoice relied on: X. This deduction is limited to the cost of making good actual damage. It does not include fair wear and tear, for which the Tenant is not liable.