SUNIL KHANNA Vs. VODAFONE ESSAR MOBILE SERVICES LTD

JUDGEMENT

(1.) The challenge in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 ('Act') is to an Award dated 14th February 2011 passed by the learned Sole Arbitrator directing the Petitioners herein to pay to the Respondent Vodafone Essar Mobile Services Ltd. ('VEMSL') a sum of Rs. 26,89,954/- and further to pay simple interest on the said sum @ 10% per annum from 16th January 2009 up to the date of the payment.

(2.) By a lease deed dated 7th February 2008 the Petitioners leased out their premises bearing No. FF-03, First Floor, Commercial Complex, "The Metropolitan" at Commercial Plot No. A-2, Saket Place, Saket, New Delhi-110017 ('the premises in question') to VEMSL at a monthly rent of Rs. 4,31,659/- for a period of nine years. The possession of the premises in question was given to VEMSL on 1stFebruary 2008.

(3.) In terms of the Clauses 3 and 5 of the lease deed the VEMSL deposited with the etitioners an interest-free security deposit of Rs. 25,89,954/-equivalent to six months' rent. Further, VEMSL in terms of Clause 6 deposited with the Petitioners a refundable maintenance security deposit of Rs. 1,00,000/- .