AJIT MITTAL Vs. HEAT EXCHANGE (P) LTD.

JUDGEMENT

(1.) THIS objection petition under Section 34 of the Arbitration & Conciliation Act, 1996 has been preferred by the petitioner assailing an award dated 23rd January, 2009 passed by the learned Sole Arbitrator allowing the claim of possession of the tenanted premises owned by the claimant and also allowing monetary claim of Rs. 50,86,485/ - after giving adjustment of counterclaim of the petitioner and further holding that the petitioner would be liable to pay Rs. 6000/ - per day with effect from 12th January, 2009 as damages till he vacates the premises. The arbitrator awarded interest @ 12% per annum on the awarded amount.

(2.) BRIEF facts relevant for the purpose of deciding this petition are that the petitioner was a tenant in the premises bearing number 349, Functional Industrial Estate, Patparganj, Delhi -110 092 having an area of 450 sq. meters comprising of basement, first floor and a second floor. The tenancy was created by a written lease agreement dated 7th July 2003 between the parties. The tenancy started from 4th July 2003 when the possession of the premises was handed over to the tenant (petitioner herein). The rent payable by the petitioner was Rs. 90,000/ - per month for the first and second year and Rs. 99,000/ - per month during third year of the tenancy. The Lessee (petitioner herein) was provided with 70 KW of electric load connection and the meters were installed in the premises on 17th July 2003.

(3.) THE learned arbitrator after considering the claims and counterclaims of the parties and material placed before him passed the impugned award giving reliefs as narrated above to the claimant (respondent herein).