M. Katju and Prakash Krishna, JJ. - (1.) Heard learned counsel for the petitioner. Sri Prem Chand has appeared for the respondent.
(2.) Admittedly, the petitioner had been granted a contract for five years from 12.2.1998 to 11.2.2003. This five years period has admittedly expired.
(3.) Learned counsel for the petitioner has invited our attention to Clause 4 of the agreement dated 12.2.1998 which states as follows : "That this contract shall be valid for five years period. But it shall further be renewed, at the option of both the parties on the prevailing advertisement tax rates.";