The Arbitration proceedings shall be governed by the provisions of Arbitration Conciliation Act, 1996 with all statutory modifications for the time being in force.
It was also agreed that upon expiry or earlier determination of the lease, the tenant shall deliver vacant and peaceful possession of the premises.
The initial Signature Not Verified Digitally signed by R NATARAJAN Date 2019.03.07 period was 5 years, with an option for renewal for another 5 years 172652 IST Reason with a 10 enhancement in the rent.
As the tenant did number vacate the premises, arbitration was invoked by the respondent on 29.02.2016 by a numberice sent to the appellants.
Even though four arbitration sittings took place after this judgment, a review recall application was filed by the appellants before the Calcutta High Court on 04.06.2018 in the light of this judgment.
A reminder to this effect was also sent on 30.12.2015.
Clause 23 of the aforesaid Agreement stated as follows That in case of any disputes, differences and or claims arising by and between the parties out of this agreement and or in respect to the subject matter of this agreement, the same shall be referred to the Arbitral Tribunal companysisting of three arbitrators, out of which one arbitrator shall be appointed by the party of the first part, one by the party of the other part companylectively and the Presiding Arbitrator shall be appointed mutually by the two arbitrators so appointed by the parties.
It was agreed that the tenant should pay the agreed rent of Rs.12,985/ per month.
On 16.10.2012, the tenancy was attorned in the name of the respondent, and the appellants paid rent to the respondent as the earlier landlord had surrendered his leasehold rights in favour of the respondent with effect from 01.11.2012.
On 07.09.2016, the High Court passed the impugned order appointing an arbitrator, after rejecting the appellants objections on arbitrability of the dispute between the parties.
The decision of the Arbitral Tribunal shall be final and binding on the parties.
On 28.04.2016, the respondent filed the present Section 11 petition before the Calcutta High Court for appointment of an arbitrator.
The venue of arbitration shall always be within the Ordinary Original Civil Jurisdiction of the High Court at Kolkata.
On 24.08.2015, a letter was sent by the respondent calling upon the appellants to deliver vacant and peaceful possession on the expiry of the 10 year period, i.e., on 01.02.2016.
F. Nariman, J. Leave granted.
The facts, in this appeal, are as follows A Tenancy Agreement was entered into between the landlords predecessor in title Shree Bajrang Land Trading Company and the appellants tenant on 02.02.2006 in respect of certain godowns and other structures.
The maximum period of tenancy was for 10 years.
