STANDARD CHARTERED BANK Vs. TILAK MEHRA

JUDGEMENT

(1.) This is an application under Section 34 of the Arbitration and Conciliation Act, 1996 challenging Award of Arbitral Tribunal of Arbitrators dated 29th April, 2015.

(2.) The Assignee/Petitioner has challenged the Award in respect of the Rate of Rent and the date from which it is payable and that the impugned Award is opposed to public policy.

(3.) Whereas the lessors/respondents have challenged the Award to the extent that it does not provide for eviction of the Petitioners in the event the arrears of rent is not paid and the lease is not renewed.