NATIONAL METAL CRAFTS CO Vs. RATAN STEEL LIMITED

JUDGEMENT

(1.) THIS is a petition under section 8,9,10, 11 and 20 of the Arbitration Act.

(2.) THE facts are not in dispute and may be briefly stated. On or about August 25, 1970, defendant No. 1 entered into an agreement of lease with the petitioner and its partners who are cited as respondents 3 to 5 in respect of the factory premises known as 'Rattan Steel Ltd.' situated in village Lohta Dehat Amanat in the District of Varanasi consisting of lands and plants, machineries and other equipments in working and running condition as detailed in schedule annexed to the lease deed, which was duly registered with the Sub Registrar at Varanasi. THE lease was for a period of three years with effect from July 1, 1970, with, a renewal option on the same terms and conditions. THE lease deed contained an arbitration clause.