Section 5(10) in The Bombay Rents, Hotel and Lodging House Rates Control Act, 1947
(10)"standard rent" in relation to any premises means, -(a)where the standard rent is fixed by the Court and the Controller respectively under the Bombay Rent Restriction Act, 1939, or the Bombay Rents, Hotel Rates and Lodging House Rates (Control) Act, 1944, such standard rent; or(b)when the standard rent is not so fixed, subject to the provisions of section 11,(i)the rent at which the premises were let on the first day of September 1940, or(ii)where they were not let on the first day of September 1940, the rent at which they were last let before that day, or(iii)where they were first let after the first day of September 1940, the rent at which they were first let, or(iii a) notwithstanding anything contained in paragraph (iii), the rent of the premises referred to in sub-section (1-A) of section 4 shall, on expiry of the period of five years mentioned in that sub-section, not exceed the amount equivalent to the amount of net return of fifteen per cent, on the investment in the land and building and all the outgoings in respect of such premises; or(iv)on any of the cases specified in section 11, the rent fixed by the Court;
