R.Pal J. - (1.) This appeal has been preferred from a decree passed on an Originating Summons filed by the respondent under Chapter XIII of the Rules of the Original Side of the Court. The learned judge declared that the appellant was a monthly tenant in respect of Premises No. 18, Park Street, Calcutta (referred to as the premises) and not a long term lessee. It was also held that a lease executed between the Official Trustee and the appellant in 1984 for a period of 60 years from 2018 was void. Before considering the various issues raised the factual background is required to be set out in some detail.
(2.) The premises was owned by Peter Charles Earnest Paul (referred to as Paul). On 13th September 1919 Paul leased out the premises to Francis Daniel Augustus Larmour (referred to as Larmour) by a registered deed for 99 years. This registered deed of lease (referred to as the 1919 Lease) was effective from 1.6.1919 and is to expire on 31.5.2018. On 1st August, 1920 Paul died. Prior to his death he had executed a Will appointing the Official Trustee as the executor and trustee in respect of the premises. The Official Trustee obtained probate of Paul's Will on 7th October, 1920 and appears in this case representing the estate of Paul. On 15th February, 1921 Larmour assigned his leasehold right for the unexpired period of the 1919 lease in favour of Aratoon Stephen by a registered deed of assignment.
(3.) On 4th December 1923 Stephen Court Ltd. (the appellant) was incorporated under the provisions of Indian Companies Act, 1913. Aratoon Stephen was a shareholder and one of the first Directors of the appellant. The Memorandum of Association of the appellant provides as one of its objects the acquisition of the buildings and premises specified in the agreement referred to in Clause 3 of the Company's Articles of Association. Clause 3 of the Articles of Association provides that the appellant company would forthwith enter into an agreement with Aratoon Stephen in respect of the premises. It was also mentioned that the basis on which the appellant company was established was that the company would acquire the premises. An agreement was accordingly entered into on 10th December 1923 between Aratoon Stephen and the appellant company by which the appellant was to purchase the leasehold right of Aratoon Stephen in the premises for the balance unexpired period of the 1919 lease. The agreement, although duly executed by the parties and filed with the Register of Companies, was not registered.;