PRADEEP NANDRAJOG,J. - (1.) Heard learned counsel for the parties.
(2.) The appellant, formerly known as Magma Fincorp Limited has its registered office at 24, Park Street, Kolkata. It took on lease the 2nd floor of respondents premises at 8-9 and 8-10, Bapu Nagar, Jaipur on 01/03/2008. The duration of the lease was 3 years. The lease agreement in writing was executed on 17/03/2008 recording that the possession had already been taken over and lease had commenced from 01/03/2008 and would end on 28/02/2011. Monthly rent was Rs. 54,000/-; to be enhanced 5% after expiry of every year. Rs. 5,000/- towards maintenance charges and electricity consumption as per bills raised was payable. The lease agreement was not got registered. It had a term that upon the appellant exercising option for renewal the same shall be on the same terms and conditions as per the lease agreement dated 17/03/2008, which contained a lock-in period of one year. On 30/11/2010, before three years expired the appellant sought renewal of the lease. The respondent agreed. On 11/05/2011 the appellant terminated the lase. The respondent took the stand that because of the lock-in period of one year the lease could not be determined. The appellant withdrew the notice determining the lease. But relations soured.
(3.) The original lease agreement having an arbitration clause, the respondent proposed the name of a retired Judge of this Court to act as a sole Arbitrator. The appellant filed an application under section 11 of the Arbitration and Conciliation Act before the Calcutta High Court seeking appointment of an Arbitrator and by way of interim measure by filing application under Section 9 sought appointment of a Receiver to receive the security deposit received by the respondent at the time of the tenancy. When the dispute was on, the possession was handed over on 21/12/2011. The appellant's proceedings initiated in Calcutta under the Arbitration and Conciliation Act came to be dismissed. The respondents application under Section 11 of the Arbitrary and Conciliation Act filed in this Court resulted in a sole Arbitrator being appointed who pronounced the award on 08/12/2014. The award is in favour of the respondents.;