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Tara coal company took a coal mine from India mining co.Ltd .on lease from 1st Jan. The minimum rent was fixed at ₹20,000 per annum with a power to recoup shortworking over the first two years of the lease .the output was as follows: 31st march, 2015-2,600?
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Tara coal company took a coal mine from India mining co.Ltd .on lease ...
Lease agreement between Tara coal company and India mining co.Ltd.

The lease agreement between Tara coal company and India mining co.Ltd. was signed on 1st Jan.

Minimum rent

The minimum rent was fixed at ₹20,000 per annum.

Power to recoup shortworking

Tara coal company had the power to recoup shortworking over the first two years of the lease.

Output

As of 31st March 2015, the output was 2,600.

Explanation

The lease agreement between Tara coal company and India mining co.Ltd. allowed Tara coal company to take a coal mine on lease. The minimum rent was fixed at ₹20,000 per annum. This means that Tara coal company had to pay at least ₹20,000 per year to India mining co.Ltd.

However, Tara coal company had the power to recoup shortworking over the first two years of the lease. This means that if the output was less than expected, Tara coal company could recoup the difference from the rent paid. For example, if the expected output was 3,000 and the actual output was 2,600, Tara coal company could recoup the difference (400) from the rent paid.

As of 31st March 2015, the output was 2,600. This means that Tara coal company could recoup any shortworking from the rent paid for the first year of the lease.
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Tara coal company took a coal mine from India mining co.Ltd .on lease from 1st Jan. The minimum rent was fixed at ₹20,000 per annum with a power to recoup shortworking over the first two years of the lease .the output was as follows: 31st march, 2015-2,600?
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Tara coal company took a coal mine from India mining co.Ltd .on lease from 1st Jan. The minimum rent was fixed at ₹20,000 per annum with a power to recoup shortworking over the first two years of the lease .the output was as follows: 31st march, 2015-2,600? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Tara coal company took a coal mine from India mining co.Ltd .on lease from 1st Jan. The minimum rent was fixed at ₹20,000 per annum with a power to recoup shortworking over the first two years of the lease .the output was as follows: 31st march, 2015-2,600? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Tara coal company took a coal mine from India mining co.Ltd .on lease from 1st Jan. The minimum rent was fixed at ₹20,000 per annum with a power to recoup shortworking over the first two years of the lease .the output was as follows: 31st march, 2015-2,600?.
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