RAJEEV JAIN Vs. AARAV AGROTECH PVT. LTD.

JUDGEMENT

(1.) THE plaintiffs have filed a suit for possession, recovery of rent and damages for use and occupation of property bearing Flat No. 207, situated on the second floor of Mercantile House, 15, Kasturba Gandhi Marg, New Delhi and parking space No. LB -9, situated at Lower Basement of Mercantile House, 15, Kasturba Gandhi Marg, New Delhi (hereinafter referred to as the 'suit properties') against the defendants.

(2.) BRIEF facts of the case are that the plaintiffs are the joint owners of the suit properties, having purchased the same from M/s. New Delhi Hotels Limited. The defendants approached the plaintiffs to lease out the suit properties on rent for commercial purpose only to which the plaintiffs agreed and in pursuance of the same, a Lease Agreement dated 1st November, 2011 was signed and executed for a period of six years between the parties subject to the condition that either the plaintiffs or the defendants can terminate the lease by giving three months notice in advance after the lock -in period which was fixed to be of two years. Thereafter, the defendants in terms of the Lease Agreement took over the possession of the suit properties for commercial purpose only from the date of inception of the tenancy till date.

(3.) IT is further stated that the defendants gave a notice for termination of the Lease Agreement vide email dated 31st January, 2014 followed by legal notice dated 20th February, 2014 by virtue of which the defendants have shown their interest to terminate the lease deed dated 1st November, 2011. In the said notice, the defendants also informed that they will vacate the tenanted suit properties on or before 1st May, 2014 and asked to adjust the future rent from their security deposit amounting to Rs. 8,10,000/ -. Thereafter, the plaintiffs also issued a reply notice dated 7th March, 2014 by acknowledging the receipt of the notice of termination of tenancy.