SATISHCHANDRA SOMAN Vs. CALTHERM THERMOSTATS INDIA PVT. LTD.

JUDGEMENT

(1.) This Petition has been filed under Sec. 11 of the Arbitration and Conciliation Act, 1996 ("the Act"), seeking appointment of an arbitrator in connection with disputes and differences that are said to have arisen between the parties under a lease deed dated August 8, 1988 ("Lease Deed"), whereby the Petitioner, Satishchandra Soman ("Soman") has granted a 999-year lease for a monthly rental of Rs.450.00to Caltherm Thermostats India Pvt. Ltd. ("Caltherm") in relation to land admeasuring 60 acres in Pune District.

(2.) The arbitration agreement is contained in Clause 7 of the Lease Deed (found at Page 44 of the Petition). In the interest of brevity, the arbitration agreement is not being extracted here. Suffice it to say that this matter falls within the jurisdiction of this Court.

(3.) It is apparent from the record that the arbitration agreement was invoked by Soman on August 11, 2023 through an advocate. Soman claimed that there has been no payment of the lease rentals at all since 1988 and called upon Caltherm to pay a sum of Rs.~17.08 lakh along with interest at the rate of 10% per annum compounded; damages of Rs.75 lakh; legal expenses of Rs.5 lakh; and return of peaceful possession of the leased land. Violation of Sec. 108 of the Transfer of Property Act, 1882 ("Transfer of Property Act") was alleged.