BAJRANGLAL KHEMKA Vs. SHEILA DEVI

JUDGEMENT

(1.) This is an application for an order directing the Joint Administrators to the estate of Rai Bahadur Motilal Chamria deceased (hereinafter referred to as the deceased) to give up possession of the properties leased out to the petitioner by a registered lease dated October 18, 1966, for an order that the Director and officers of the petitioner be examined pro interesse suo as regards the title to the properties mentioned in the said deed of lease, and that the Joint Administrators be directed to accede to the petitioner's demand for possession of the properties and its rights to realize rents, issues and profits and for various other reliefs.

(2.) The petitioner was incorporated as a private company in 1934 under the Indian Companies Act, 1913. This company had an authorized capital of Rs.21,00,000 divided into 2,100 Equity Shares of Rs.1,000 each. Out of the paid up and subscribed capital of the company of Rs.7,17,000 divided into 717 Equity Shares of Rs.1,000 each, the deceased held 700 Equity Shares valued at Rs.7,00,000. Under the Articles of the company the deceased was the Governing Director of the company and was in control and management of the company's affairs up to the time of his death.

(3.) It is alleged that there was a registered deed of lease dated January 30, 1962, for a term of three years with regard to various properties of the deceased. Under this lease, it is alleged that the petitioner was a lessee of various properties of the deceased, full particulars of which have been set out in the deed of lease. This lease expired on February 1, 1965, and a fresh lease of the properties for a further term of 3 years was granted by the accused to the petitioner by a registered deed of lease dated October 18, 1966, from January 1, 1965. This lease expired on December 31, 1967. Under the terms of this lease the lessee had the option to renew the lease for a further term of three years. According to the petitioner, before the expiry of the lease on December 31, 1967, option was exercised by the petitioner by a letter dated September 22, 1967, for renewal of the lease for a further term of three years from January 1, 1968, and by virtue of this renewal, it is contended, that the petitioner is entitled to continue to occupy the premises as a lessee until December 31, 1970.