GREESH KUMAR BANSAL Vs. ASIAN HOTELS (NORTH) LIMITED

JUDGEMENT

(1.) The present petition has been filed by the petitioner under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of Arbitrator for adjudication of disputes with respondent arising out of Lease Agreement dtd. 13/2/2020.

(2.) Petitioners, who are husband and wife, claim to have entered into a Lease Agreement in respect of Service Apartment No. 2002, Second Floor, Block-A, New Tower Block, Hotel Hyatt Regency, New Delhi on a rental for Rs.4,91,000.00 p.m. with applicable taxes, for a period of seven years.

(3.) Petitioners have claimed that in terms of Clause 12.2 of the Lease Agreement stipulates that the agreement cannot be terminated during subsistence of lock-in period i.e. for seven years and thereafter too, upon furnishing of a six months advance to the lessor. Clause-15.2 of the Lease Agreement contains the force majeure clause and Clause-15.4 contains the Dispute Resolution Clause.