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[Cites 26, Cited by 5]

Delhi High Court

Pearl Hospitality & Events Pvt Ltd. vs Oyo Hotels And Homes Pvt Ltd. on 3 November, 2020

Equivalent citations: AIRONLINE 2020 DEL 1479

Author: C. Hari Shankar

Bench: C. Hari Shankar

                            $~
                            *      IN THE HIGH COURT OF DELHI AT NEW DELHI
                                                                     Reserved on: 19th June, 2020
                                                               Pronounced on : 3rd November, 2020

                            +      O.M.P. (I) (COMM) 123/2020 & I.A. 4644/2020
                                   PEARL HOSPITALITY & EVENTS PVT LTD. ...Petitioner
                                                     Through: Mr. Ankit Jain, Mr.
                                                              Ankur Jain and Mr.
                                                              Abhay Pratap Singh,
                                                              Advs.

                                                              versus

                                   OYO HOTELS AND HOMES PVT. LTD.       ... Respondent
                                                    Through: Mr. Jeevan Ballav Panda,
                                                              Mr. Satish Padhi, Mr.
                                                              Gaurav Sharma, Advs.

                                   CORAM:
                                   HON'BLE MR. JUSTICE C. HARI SHANKAR


                            %                            JUDGMENT


                            1.     This petition, preferred by M/s Pearl Hospitality & Events Pvt.
                            Ltd. under Section 9 of the Arbitration and Conciliation Act, 1996
                            (hereinafter referred to as "the 1996 Act"), contains the following
                            prayer clause:
                                   "In the aforesaid facts and circumstances, it is most humbly
                                   and respectfully prayed that this Hon'ble Court may kindly be
                                   pleased to:-

                                           (i)   Direct the respondent to immediately handover
                                           the keys of property located at Floor 1 & 2, Plot C,
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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                       Page 1 of 61
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                                            Community Centre, Vivek Vihar, Phase-II, Delhi-
                                           110095, admeasuring 15000 sq. ft. approximately
                                           (hereinafter referred to as the 'said property'), to the
                                           petitioner herein;

                                           (ii)   Direct the respondent to pay to the petitioner an
                                           amount of Rs. 90,00,000/- (Rupees Ninety Lacs only),
                                           apart from applicable taxes, being the amount payable
                                           by the respondent to the petitioner herein for the
                                           months of December, 2019 till May, 2020, under the
                                           terms of the Management Services Agreement dated
                                           04.09.2019;

                                           (iii) Direct the respondent to give Monetary Security
                                           to the extent of Rs.2,23,50,000/- to secure the amount
                                           to be Awarded, in favour of the petitioner and against
                                           the respondent herein;

                                           (iv) Restrain the Respondent, its Directors,
                                           Shareholders, Employees etc. from transferring ,
                                           alienating or encumbering, in any manner whatsoever,
                                           any of the assets of Respondent Company;

                                           (v)    Pass an order of attachment of the Bank
                                           Account of the Respondent No. 1 Company, to be
                                           disclosed by the Respondent No. l Company by way of
                                           an affidavit, being in its special knowledge, for an
                                           amount of Rs.2,53,50,000/-;

                                           (vi) Pass an ex-parte interim order in terms of
                                           prayers (i) - (v) above; and

                                           (vii) Pass any other or further orders which may
                                           deem fit and proper in the facts and circumstances of
                                           the case."


                            Facts


                            2.      The factual backdrop, in which the afore-extracted prayers have
                            been made by the petitioner, may be briefly recited thus:

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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                          Page 2 of 61
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                             3.     The petitioner had taken the property, located at the first and
                            second floors, Plot-C, Community Centre, Vivek Vihar, Phase-II,
                            Delhi-110095 (referred to, for the sake of convenience, as "the subject
                            property") on lease from Mr. Sanjay Varshney, Mr. Raja Varshney
                            and Mr. Jeevan Jyoti Kwatra.

                            4.     Pursuant thereto, the petitioner established a banquet hall in the
                            subject property, under the name and style of 'Navkaar Banquets',
                            which he claims to have been running since 2012.


                            5.     On 4th September, 2019, the petitioner entered into a
                            Management Services Agreement (hereinafter referred to as "the
                            MSA") with the respondent, whereunder the respondent (who was
                            designated as the "Service Provider" in the MSA), and who claimed to
                            have been working in the hospitality industry for several years,
                            undertook to run, operate and manage the aforesaid banquet hall, in
                            the premises taken on lease by the petitioner (who was designated, in
                            the MSA, as the "Lessee").


                            6.     The clauses of the MSA have, in the MSA, been referred to as
                            "Articles".


                            7.     Articles 3 and 9 of the MSA, which constitute, essentially, the
                            main subject matter of controversy in the present case, may be
                            reproduced thus:

                                   "ARTICLE 3: TERM
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                                    3.1    This Agreement shall commence from Execution Date
                                   and shall be valid for a period of 9 of this Agreement. The
                                   Parties shall extend the Term of this Agreement on mutual
                                   consent basis, in writing and to be signed by authorized
                                   representatives of both the Parties.

                                   3.2    The Parties shall execute Handover Certificate in the
                                   format attached herewith as Schedule F Part B ("Hand over
                                   Certificate") on the date of execution/ handover of the Venue
                                   by the Lessee to the Service Provider. In case the Lessee fails
                                   to hand over the possession of the Venue to the Service
                                   Provider on the Handover Date (More particularly given
                                   under Annexure F), the Handover Date, Fit-Out Completion
                                   Date and Commencement Date denoted in Annexure F shall
                                   stand replaced by the Handover Date, Fit- Out Completion
                                   Date and Commencement Date              denoted in Handover
                                   Certificate, for the purposes of this Agreement. Accordingly,
                                   all corresponding obligations of the parties shall stand
                                   triggered from the said dates mentioned in Handover
                                   Certificate.

                                   3.3    The Parties shall not be entitled to terminate the
                                   Agreement during their respective Lock in Period in this
                                   regard, the Parties agree as following:

                                           i.     In the event the Lessee terminate this
                                           Agreement during the Lessee's Lock In Period for any
                                           reason other than failure of the Service Provider to pay
                                           Benchmark Revenue for two consecutive months
                                           despite continuing to operate the Venue, the Lessee
                                           shall be liable to pay to the Service Provider liquidated
                                           damages equivalent to the applicable benchmark
                                           Revenue (Inclusive of all taxes) for 12 months of the
                                           Lessee's Lock In Period, as liquidated damages.

                                           ii.    In the event the Service Provider terminates this
                                           Agreement during the Service Provider's Lock In
                                           Period for any reason, other than those referred under
                                           Article 9, then Service Provider shall be liable to pay
                                           liquidated damages to the Lessee of an amount
                                           equivalent to the applicable Benchmark Revenue
                                           (inclusive of all taxes) for every month of the
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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                           Page 4 of 61
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                                            remaining period of the Service Provider Lock In
                                           Period, as liquidated damages.

                                           iii.   The Parties hereby acknowledge that the said
                                           liquidated damages are intended to be a genuine and
                                           reasonable estimate of the damages and accordingly
                                           the same shall not be considered a penalty."


                                   "ARTICLE 9:           Termination    And    Consequences      of
                                   Termination

                                   9. 1    Termination

                                   9.1.1 After Service Provider's Lock In Period, the Service
                                   Provider may terminate this agreement by giving 2 (two)
                                   months prior written notice to the Lessee. The Service
                                   Provider will continue the benchmark revenue as well as
                                   utility and maintains bills during the notice period failing
                                   which the amount will be adjusted with Service Provider's
                                   security deposit.

                                   9.1.2 Notwithstanding Article 9.1.1, the Service Provider
                                   shall be entitled to terminate the Agreement anytime
                                   (including within the Service Provider's Lock In Period) in
                                   the event; (a) there is a material breach of the Agreement by
                                   the Lessee or there has been a misrepresentation by the
                                   Lessee and the Lessee fails to remedy the said beach within a
                                   period of 30 (Thirty) days from the date on which it is
                                   notified of the said breach; or (b) Lessee fails for bankruptcy
                                   or becomes or is declared insolvent or has a receiver or
                                   manager appointed over all or substantially all of its assets; or
                                   (c) a proposal of land acquisition in respect of any material
                                   part of or all of the Venue being effected by any
                                   governmental body; or (d) there being a dispute or threat of a
                                   dispute concerning title of the Venue; or (e) if the lease deed
                                   or any other agreement vesting possession of the venue on the
                                   Lessee terminates; (f) if any act or omission of the Lessee
                                   causes disruption in the business.

                                   9.1.3 After lock in period, the Lessee may terminate this
                                   Agreement by giving 2 (two) months prior written notice to
                                   the Service Provider and Service Provider will continue to the
                                   benchmark revenue as well as utility and maintains bills
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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                           Page 5 of 61
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                                    during the notice period failing which the amount will be
                                   adjusted with Service Provider's security deposit.

                                   9.1.4 The Lessee shall be entitled to terminate the
                                   Agreement (including within the Lessee's Lock in Period) in
                                   the event- a) the Service Provider fails to pay the Benchmark
                                   Revenue for two (02) consecutive months despite being in
                                   operations and the Service Provider fails to remedy the said
                                   breach within a period of 30 (thirty) days from the date on
                                   which it is notified of the said breach, b) the Service Provider
                                   found involve in any irregular activity which may harm
                                   integrity of the venue, c) The Service Provider fails to pay
                                   utilities bill for consecutive 3 (three) months and the Service
                                   Provider fails to remedy the said breach within a period of 15
                                   days from 3rd bill presented, d) The Service Provider make
                                   changes to the Property that is considered in the violation of
                                   the building by laws of the local governing authority.

                                   9.2 Consequences of Termination/ Expiry

                                   9.2.1 Upon the expiration or earlier termination of the
                                   Agreement, the lessee will immediately stop the use of the
                                   brand name of the Service Provider and not do anything 9.2.1
                                   Upon the expiration or earlier termination of the Agreement,
                                   the lessee will immediately stop the use of the brand name of
                                   the Service Provider and not do anything in contravention
                                   with Article 11.1 and Article 11.2 in perpetuity.

                                   9.2.2. The Service Provider shall be entitled, not obliged, to
                                   remove all furniture and fixture installed by it in the Venue/
                                   Venues. The Service Provider may vacate and handover the
                                   Premises on "as is where is" basis at its sole discretion. The
                                   expiration or termination of the Agreement shall not operate
                                   to waive, release or otherwise relieve any Party of any
                                   liability that has accrued prior to such termination or
                                   expiration. Notwithstanding anything contrary to the
                                   provisions of the Agreement which by their nature are
                                   intended to survive, shall survive the termination or expiry of
                                   the Agreement."




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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                          Page 6 of 61
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                             8.      Under the MSA, the respondent was to pay, to the petitioner, a
                            lease rental of ₹ 15 lakhs per month, exclusive of taxes, for the first
                            year, which was to be augmented by 5% every succeeding year.


                            9.      The petitioner submits that the rental, as so fixed, was paid, by
                            the respondent, during the months of September, October and
                            November, 2019, but that, with effect from December, 2019, the
                            respondent discontinued payment.


                            10.     On 25th December, 2019, the respondent addressed an e-mail, to
                            the petitioner, which was brief and terse in equal measure, and read
                            thus:
                                    "Dear Mohit Ji

                                            As informed to you earlier. We are unable to continue
                                    with Operations of your banquet. We want to vacate the same
                                    at the earliest.

                                           Please do let us know if we have to cancel the
                                    bookings or would you want to carry the future events from
                                    January onward and serve these customers.

                                    Regards

                                    Abhitej Singh"


                            11.     Mr. Ankit Jain, learned counsel for the petitioner, points out,
                            correctly, that the aforesaid e-mail, dated 25th December, 2019,
                            provided no reasons, whatsoever, for the purported inability, on the
                            part of the respondent, to continue with operating the banquet hall,
                            and its consequent desire to vacate the premises.

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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                        Page 7 of 61
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                             12.    The petitioner responded, to the afore-extracted e-mail, dated
                            25th December, 2019, of the respondent vide reply e-mail sent on the
                            very same day, in which it was alleged that, though the respondent
                            had acquired the banquet hall business of the petitioner in September,
                            2019, and had received the payments related thereto, it had failed to
                            comply with its liabilities, to which the MSA bound the respondent. In
                            view of the intention of the respondent, evidenced in the e-mail dated
                            25th December, 2019 supra, to vacate the premises and discontinue
                            operations, the petitioner demanded, from the respondent, compliance
                            with Article 3.3. (ii) of the MSA by payment, equivalent to the
                            benchmark revenue for sixteen months, along with applicable taxes. It
                            was also pointed out that Article 9.1.1 of the MSA required the
                            respondent to give two months' termination notice to the petitioner
                            and, during the said two months period, the respondent was to bear all
                            utility bills and expenses relating to the subject property.        The
                            respondent was, therefore, requested to correct (its) "process" and
                            obligate (its) liabilities and responsibilities towards the agreement"
                            between the petitioner and respondent.


                            13.    With effect from 31st December, 2019, the respondent claims to
                            have vacated the subject property, though this is disputed by the
                            petitioner.

                            14.    On 14th January, 2020, the petitioner addressed an e-mail to its
                            landlord, Sanjay Varshney, and Raja Varshney, which read thus:

                                   "Dear Sanjay ji/ Raja ji,


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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                    Page 8 of 61
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                                           This is to inform you that Weddingz.in are abruptly
                                   ending there Management services contract with us and
                                   would be vacating the premises. I would not be able to
                                   continue to run operations at your premises and would vacate
                                   it.

                                          The further course of action would be discussed with
                                   you in short period of time.

                                   Thanks and regards
                                   Mohit Jain"


                            15.    On 1st January, 2020, the petitioner addressed a second e-mail,
                            to the respondent, stating that, as no response, to the earlier e-mail,
                            dated 25th December, 2019, had been received from the respondent,
                            the notice of termination, dated 25th December, 2019, of the
                            respondent stood invalidated, and also amounted to a conformation
                            that the respondent was carrying on business as usual.


                            16.    The respondent again communicated, to the petitioner, on 15 th
                            January, 2020, by e-mail, in which it was stated thus:

                                   "We wish to bring into your notice that you have continually
                                   committed breach of the MSA, despite our repeated requests
                                   for procuring the requisite licenses/ approvals/ permissions/
                                   NOCs which are still pending from your end.

                                   Since the non procurement of licenses is a material breach
                                   under the MSA and because of the same, we are not able to
                                   continue with our operations. We serve you this notice of
                                   termination and as communicated to you on 25th December,
                                   2019, the MSA shall stand terminated with effect from 31st
                                   December, 2019, as you are not able to cure the said material
                                   breach as per the terms of the MSA from the date of signing
                                   of the MSA till 31st December, 2019."


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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                       Page 9 of 61
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                             Consequent on the aforesaid "termination" of the MSA, with effect
                            from 31st December, 2019 (as the e-mail purported to state) the
                            respondent called upon the petitioner to immediately refund all
                            amounts payable to the respondent under the MSA, "including but
                            not limited to the amounts under lock in pay outs and interest free
                            refundable security deposit", whereupon the respondent stated that it
                            would hand over the subject property to the petitioner.


                            17.    The petitioner replied, vide communication, dated 6th February,
                            2020, addressed through counsel, expressing undisguised chagrin at
                            the aforestated communications, of the respondent, whereby the
                            respondent had expressed its inability to continue with the operations
                            at the subject property, and its allegations that the petitioner had
                            breached of the MSA. Apropos the allegation that the petitioner had
                            failed to procure necessary licenses/approvals/permissions/NOCs, the
                            petitioner pointed out that it had received no communication, from the
                            respondent, at any earlier point of time, alleging failure on the part of
                            the petitioner, to procure any such licenses / approvals / permissions /
                            NOC. The falsity of this allegation, it was further submitted, was
                            apparent from the fact that the respondent had failed to provide any
                            particulars of the licenses / approvals /permissions / NOCs, which the
                            petitioner had failed to obtain. The petitioner asserted, emphatically,
                            that it had obtained all the licenses required for the purposes of
                            running the aforesaid banquet hall at the subject property and that, in
                            fact, before entering into the MSA with the respondent, the petitioner
                            had successfully been running the banquet hall since 2012, without
                            any disruption whatsoever. The petitioner, therefore, alleged that, by
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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                    Page 10 of 61
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                             the aforesaid communication, it was apparent that the respondent was
                            seeking to escape its obligations under the MSA.             The petitioner
                            invoked, yet again, Article 3.3(ii) of the MSA, whereunder the
                            respondent, in the event of it's terminating the MSA within the lock-
                            in-period of sixteen months, was required to make payments to the
                            petitioner, of an amount equivalent to the benchmark revenue (which
                            was ₹ 15 lakhs per month) for the unexpired remainder of the lock-in-
                            period. Additionally, the petitioner called upon the respondent to pay,
                            for the period February, 2020 till 11th January, 2021, under the terms
                            of the MSA, which worked out to a total ₹ 1,73,50,000/-. Interest, at
                            the rate of 24% per annum, and damages of ₹ 50 lakhs, were also
                            claimed, in the said response.


                            18.     It was also alleged that, despite several attempts by the
                            petitioner, the respondent had refused to hand-over the subject
                            property to the petitioner, in the absence of a No Dues Certificate
                            from the petitioner. Finally, the aforesaid communication, dated 6th
                            February, 2020, invoked Article 10.1 of the MSA, which provided for
                            arbitration of disputes, between the petitioner and the respondent, and
                            nominated Mr. H.S. Sharma, learned District & Sessions Judge,
                            (Retd.) as the petitioner's arbitrator, Article 10.1 of the MSA read
                            thus:
                                    "ARTICLE 10: DISPUTE                 RESOLUTION          AND
                                    GOVERNING LAWS

                                    10.1 Arbitration: All disputes arising under this
                                    Agreement shall be resolved by a sole arbitrator mutually
                                    appointed by the Parties, in accordance with the provisions of
                                    the Arbitration and Conciliation, Act 1996. In case the parties
                                    fail to mutually appoint the sole arbitrator within 15 days
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                                    from the date on which a notice to initiate resolution of a
                                   dispute through arbitration has been raised by a Party the sole
                                   arbitrator shall be appointed by the Delhi High Court. The
                                   seal of Arbitration shall be New Delhi and the language shall
                                   be English."



                            19.    The aforesaid communication provoked a response, from the
                            respondent, through counsel, dated 18th February, 2020. Para 4 of the
                            said response alleged, once again, that the petitioner had "failed to
                            provide the requisite NOCs / licenses as per the Agreement", thereby
                            undermining the contents of the MSA and forcing the respondent to
                            terminate the MSA vide termination notice dated 15th January, 2020.
                            It was stated, in the said communication, that the termination was
                            effected in accordance with Article 9.1.2 of the MSA.              In view
                            thereof, the communication invoked Article 4.2 of the MSA, which
                            reads thus:

                                   "ARTICLE 4: MANAGEMENT FEES

                                   4.2    The Service Provider shall deposit an interest free
                                   refundable security deposit ("IFRSD') equivalent to INR
                                   45,00,000/- (Indian Rupees Forty Five Lakh Only) under this
                                   Agreement. Out of the total IFRSD, the Service Provider shall
                                   deposit INR 15,00,000/- (Indian Rupees Fifteen Lakh Only)
                                   after getting NOC from Owner, and balance amount of INR
                                   30,00,000/ - (Indian Rupees thirty Lakh Only)when Lessee
                                   will provide Property tax receipt and Building/ Fire Insurance.
                                   IFRSD in full shall be refunded by the Lessee to the Service
                                   Provider on expiry/ termination of this Agreement failing
                                   which, the Service Provider shall have the right to deduct
                                   equivalent amount from Benchmark Revenue payable by the
                                   Service Provider. The Service Provider shall have the right to
                                   continue to set- off the IFRSD amount from the Benchmark
                                   Revenue till such time the entire IFRSD is recovered by the
                                   Service Provider in case the amount of IFRSD to be
                                   recovered is more than the monthly Benchmark Revenue. It is
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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                        Page 12 of 61
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                                    clarified that the Lessee shall not be entitled to terminate this
                                   Agreement, irrespective of expiry of Lessee's Lock In Period,
                                   till full IFRSD amount is recovered by the Service Provider.
                                   In such case IFRSD is converted into Benchmark Revenue
                                   and applicable taxes shall be borne by the service provider for
                                   the same."


                            Invoking Article 4.2 of the MSA, the respondent called upon the
                            petitioner to pay an amount of ₹ 45 lakhs, along with 18% interest,
                            and legal expenses of ₹ 20,000/-


                            20.    On 26th February, 2020 and 13th March, 2020, the respondent
                            claims to have addressed two communications, to the petitioner,
                            which could not be delivered to the petitioner, as the petitioner was
                            found to be unavailable in the premises. It is not in dispute, therefore,
                            that the petitioner did not, in fact, receive the said communications.


                            21.    The communication, dated 26th February, 2020, reiterated, yet
                            again, the "numerous requests" purportedly made by the respondent,
                            to the petitioner, "for providing the necessary compliance documents
                            showing compliance to the essential terms of the MSA". Once again,
                            there was no specific reference, in the said letter, to the document,
                            which was wanting, insofar as compliance, by the petitioner, with the
                            terms of the MSA, was concerned. It was, instead, reiterated that the
                            respondent had decided to terminate the MSA with effect from 31 st
                            December, 2019, vide termination notice, dated 18th January, 2020
                            (this appears to be a typographical error, as the alleged termination
                            notice was dated 15th January, 2020).


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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                          Page 13 of 61
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                             22.    The communication called upon the petitioner, therefore, to
                            immediately disgorge, to the respondent, an amount of ₹ 9,87,63,364/-
                            towards the refund of the security deposit, venue booking, advance
                            amount received by the petitioner, and lock-in pay-outs, along with
                            interest @ 18% p.a.           It was further asserted, in the said
                            communication, that the respondent was "always willing and ready" to
                            hand over the subject property to the petitioner, and that, it was the
                            petitioner who had failed to take over the property.              In the
                            circumstances, the respondent "clarified" that, since it had stopped
                            providing services, as per the MSA, from the date of termination of
                            the MSA, and was always ready to hand over the subject property to
                            the petitioner, it was not liable to pay, to the petitioner, any amount in
                            lieu of the benchmark revenue or any other charges, after the date of
                            termination of the MSA, being 31st December, 2019. The
                            communication also purported to enclose, therewith, the keys of the
                            subject property.


                            23.    The subsequent communication, dated 13th March, 2020
                            (which, too, was not delivered to the petitioner), briefly reiterated the
                            aforesaid allegations and purported, yet again, to enclose the keys of
                            the subject property. The claim for ₹ 9,87,63,364/-, along with interest
                            @ 18% p.a., was reiterated.


                            24.    This was followed by a legal notice, dated 30th March, 2020,
                            from the respondent (through counsel), to the petitioner, which, drew
                            attention, inter alia, to Article 6.1.2 of the MSA, which read thus:


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SINGH NEGI                  O.M.P. (I) (COMM) 123/2020                                     Page 14 of 61
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                                    "6.1.2 The Lessee has all necessary statutory and/ or
                                   regulatory permission(s), Approval(s), licenses and permits
                                   required for running and operating the Venue and conducting
                                   its business and for providing the Services by the Service
                                   Provider."


                            The notice alleged, once again, that the petitioner had breached the
                            MSA by failing to procure the "requisite licenses/approvals/
                            permissions/NOCs, which remained pending". Non-procurement of
                            licenses, it was reiterated, constituted a material breach under the
                            MSA, owing to which, the respondent was unable to continue with its
                            operations, as a result of which the respondent had been constrained to
                            terminate the MSA vide communication dated 25th December, 2019,
                            followed by the communications constituting the sequelae thereto. By
                            receiving the letter dated 23rd January, 2020, it was alleged that the
                            petitioner had accepted the termination of the MSA.


                            25.    The Legal Notice, therefore, reiterated the demand of ₹
                            9,87,63,364/- along with interest @ 18% p.a., and proposed the name
                            of Mr. Arun Kumar Arya, learned District and Sessions Judge (Retd.)
                            as the Sole      Arbitrator to adjudicate on the dispute between the
                            petitioner and the respondent.


                            26.    It may be mentioned, even at this juncture, that though the
                            petitioner, and the respondent, have communicated their preference of
                            arbitration, to arbitrate on the aforesaid dispute, there has been no
                            consensus ad idem, on the issue, and no arbitrator has been appointed.
                            As such, the present petition is not hit by Section 9(3) of the 1996 Act.


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                             27.       The petitioner responded to the aforesaid Legal Notice, dated
                            30th March, 2020, vide letter (through counsel), dated 8th April, 2020.
                            The       petitioner    categorically     denied     having     received     the
                            communications, dated 26th February, 2020 and 13th March, 2020,
                            addressed by the respondent.             Apropos the allegation that the
                            petitioner        had         failed     to    obtain         the     requisite
                            licenses/approvals/permissions/NOCs, the petitioner pointed out, yet
                            again, that the communications, from the respondent, were completely
                            silent,     regarding        the   specifics   and     particulars    of     the
                            licenses/approvals/permissions/NOCs, which the petitioner had yet to
                            procure or obtain. The petitioner reiterated, emphatically, that there
                            had been no default on the part of the petitioner, in obtaining any such
                            license/approval/permission or NOC. It was also pointed out that the
                            respondent had inspected all the documents and licenses, before
                            entering into the MSA. The plea of the petitioner having failed to
                            obtain requisite licenses/approvals/permissions or NOCs, it was
                            therefore submitted, was merely a ruse in order to avoid the
                            respondent's obligations under the MSA. This, it was submitted, was
                            also apparent from the e-mail, dated 25th February, 2020, which
                            purported to terminate the MSA, not on the ground of failure, on the
                            part of the petitioner, to obtain licenses/approvals/ permissions/NOCs,
                            but because the respondent expressed its inability to continue with the
                            operations at the subject property. The accusation of failure, on the
                            part of the petitioner, to obtain licenses/approvals/ permissions/NOCs,
                            was, therefore, it was alleged, merely manufactured, by the
                            respondent, to avoid the fulfilment of its obligations under the MSA.
                            It was further pointed out that the petitioner had never accepted the
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                             termination of the MSA but that, as the respondent was seeking to do
                            so, within the lock-in period, the obligations, flowing from Article
                            3.3(ii) of the MSA, would bind the respondent.


                            28.    The petitioner, therefore, reiterated its demand for payment of ₹
                            15 lakhs per month, for the months of December, 2019 and January,
                            2020, and for a total amount of ₹ 1,73,50,000/-, for the period
                            February, 2020 till 11th January, 2021 along with interest and
                            damages.


                            29.    While the recital of the exchange of communications, between
                            the petitioner and the respondent, through counsel or otherwise, would
                            conclude at this point, it is also necessary to highlight two more
                            communications, dated 6th May, 2020 and 22nd May, 2020, between
                            Raja Varshney and the petitioner, and vice versa.


                            30.    The communication, dated 6th May, 2020, which was in the
                            nature of a Legal Notice by Raja Varshney, to the petitioner, alleged
                            default, on the part of the petitioner, in payment of rent to Raja
                            Varshney to an extent of ₹ 38,02,212/-. It was further alleged, in the
                            said Legal Notice, that certain cheques tendered by the petitioner, to
                            Raja Varshney, had been dishonoured by the Bank. The legal notice,
                            therefore, called upon the petitioner to pay an amount of ₹ 12,34,050/-
                            being the amount covered by the aforesaid three dishonoured cheques.


                            31.    The petitioner responded, to the aforesaid Legal Notice, dated
                            6th May, 2020, vide response, dated 22nd May, 2020, also addressed
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                             through counsel. It is not necessary to refer, in detail, to the contents
                            of the said communication, as the present lis is not concerned with the
                            dispute between the petitioner and its landlord. Mr. Jeevan Ballav
                            Panda, learned counsel arguing for the respondent, however, seeks to
                            capitalise on the following sentence, with which para 2 of the reply of
                            the Legal Notice, dated 22nd May, 2020, commences:
                                   "2. The malafide intentions on the part of your clients is
                                   evident from the very fact that your entire legal notice is
                                   completely silent about the above said fact and also the fact
                                   that my client had duly communicated about the termination
                                   of the present lease to your clients vide his e-mail dated 14-
                                   01-2020 that he would not be able to continue or run his
                                   operations due to the fraud committed upon him by M/s.
                                   Weddingz.in (OYO Hotels and Homes Pvt. Ltd.) on behalf of
                                   M/s. Oravel Stays Private Limited and was ready to vacate
                                   your premises."


                            32.    This concludes the recital of the relevant facts.


                            Claim of the Petitioner


                            33.    In the backdrop of the aforesaid facts, the petitioner has moved
                            this Court, under Section 9 of the 1996 Act, seeking the reliefs
                            enumerated in the prayer clause, and reproduced in para 1 supra.


                            34.     The petitioner has sought to make out a case of clear and
                            undeniable liability, of the respondent, to discharge payment, to the
                            petitioner, in terms of Article 3.3(ii) of the MSA, as the respondent
                            sought to terminate the MSA within the lock-in period. It is also
                            alleged, in the petition, that the respondent was known to be in the


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                             process of winding up its business and diverting its funds, thereby
                            necessitating immediate relief under Section 9 of the 1996 Act.


                            35.    The respondent has filed a reply, to the petition, in which the
                            respondent has taken preliminary exception to the fact that the
                            petitioner had not disclosed the e-mail, dated 14th January, 2020
                            supra, addressed by the petitioner to its landlord, which, according to
                            the respondent, effectively terminated the lease between the petitioner
                            and its landlord. Once the lease between the petitioner and its landlord
                            stood terminated, the respondent contends that there could be no
                            question of the respondent carrying out any of its obligations in the
                            subject property, or of the petitioner being able to maintain any claim
                            for liquidated damages for the alleged lock-in period.


                            36.    As such, the respondent contends that the petition is devoid of
                            any sustainable cause of action.


                            37.    The respondent further denies, entirely, the applicability of
                            Article 3.3(ii) of the MSA, and contends that the termination of the
                            MSA, by the respondent, was relatable, not to Article 3.3(ii), but to
                            Article 9.1.2 thereof. It is averred, in the reply, that Article 9.1.2
                            empowered the respondent to terminate the MSA, even during the
                            lock-in period, even in the event of material breach by the petitioner,
                            without mulcting the respondent, thereby, of any liability towards
                            liquidated damages. Reliance has been placed on the non obstante
                            clause contained in Article 9.1.2 of the MSA


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                             38.        The reply further invokes Article 5.2.6 of the MSA, whereunder
                            the petitioner was obliged to provide approvals for renewals of the
                            licenses and NOCs. It is alleged, in the reply, that the petitioner had
                            failed to comply with the mandate of the said Article 5.2.6, as it had
                            not provided the Approved Building Plan of the subject property,
                            along with Renewed Consent to Operate (hereinafter referred to as
                            "the CTO") from the Delhi Pollution Control Committee (DPCC).
                            The reply alleges that the last CTO, made available by the petitioner,
                            was of 29th January, 2014 vintage, which expired of 16th December,
                            2018.


                            39.        It was in these circumstances, contends the reply, that the
                            respondent was constrained to express its inability to continue
                            operations with the subject property vide e-mail dated 25th December,
                            2019.


                            40.        The reply also relies on the judgment of this Court in Tower
                            Vision India Pvt. Ltd. v Procall Private Limited1, for the proposition
                            that liquidated damages could be claimed only if the petitioner
                            established legal injury, following the alleged breach by the
                            respondent, and the loss suffered thereby. The mere existence of a
                            clause, in the MSA, creating a liability to liquidated damages, it is
                            averred, did not result in dispensation with this requirement.


                            41.        The reply of the respondent, filed in response to the petition,
                            further avers that, as the claims of the petitioner are yet to be


                            1   2014 (183) CC 364
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                             adjudicated, the petitioner could not invoke Section 9 of the 1996 Act,
                            in order to obtain "pre-arbitration adjudication". No such imminent
                            threat, necessitating the exercise by this Court, of its extraordinary
                            power, conferred on it, by Section 9 of the 1996 Act, it is contended,
                            exists, as the respondent is one of the best and fastest growing
                            hospitability chains, and it is absurd to contend that the respondent
                            had started to wind up its business.

                            Rival submissions

                            42.    I have heard, in detail, the submissions advanced by Mr. Ankit
                            Jain, learned counsel for the petitioner, and Mr. Jeevan Ballav Panda,
                            learned counsel for the respondent.


                            43.    Mr. Jain, arguing for the petitioner, submits that the case
                            squarely falls under Article 3.3(ii) of the MSA. The hand over date, he
                            points out, was 12th September, 2019, and the lock-in period, as per
                            Article 3.3 of the MSA, would, therefore, expire only sixteen months
                            from the said date, i.e 11th January, 2021. In view thereof, he submits
                            that, as the respondent had sought to terminate the MSA during the
                            lock-in period, for reasons not relatable to Article 9 of the MSA, it had
                            effectively become liable to pay, to the petitioner, liquidated damages,
                            equivalent to the benchmark revenue (of ₹ 15 lakhs per month)
                            covering the remainder of the lock-in period. In this context, Mr. Jain
                            also relies on Article 3.3(iii) which specifically states that liquidated
                            damages, contemplated by Article 3.3(ii) was a genuine and
                            reasonable estimate of damages, and was not in the nature of a
                            penalty. This, Mr. Jain submits, would comply with the mandate of
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                             Sections 73 and 74 of the Indian Contract Act, 1872, which may be
                            reproduced thus:
                                   "73. Compensation for loss or damage caused by breach
                                   of contract - When a contract has been broken, the party who
                                   suffers by such breach is entitled to receive, from the party
                                   who has broken the contract, compensation for any loss or
                                   damage caused to him thereby, which naturally arose in the
                                   usual course of things from such breach, or which the parties
                                   knew, when they made the contract, to be likely to result from
                                   the breach of it.

                                   Such compensation is not to be given for any remote and
                                   indirect loss or damage sustained by reason of the breach.

                                   Compensation for failure to discharge obligation
                                   resembling those created by contract.            - When an
                                   obligation resembling those created by contract has been
                                   incurred and has not been discharged, any person injured by
                                   the failure to discharge it is entitled to receive the same
                                   compensation from the party in default, as if such person had
                                   contracted to discharge it and had broken his contract.
                                   74.     Compensation for breach of contract where penalty
                                   stipulated for - When a contract has been broken, if a sum is
                                   named in the contract as the amount to be paid in case of such
                                   breach, or if the contract contains any other stipulation by
                                   way of penalty, the party complaining of the breach is
                                   entitled, whether or not actual damage or loss is proved to
                                   have been caused thereby, to receive from the party who has
                                   broken the contract reasonable compensation not exceeding
                                   the amount so named or, as the case may be, the penalty
                                   stipulated for."


                            44.    Insofar as Article 9.1.2 of the MSA - which the respondent
                            seeks to invoke - is concerned, Mr. Jain submits that the said Article
                            is totally inapplicable to the facts of the present case, He asserts that
                            there had been no material breach of the MSA, by the petitioner,
                            which is the first pre-requisite for Article 9.1.2 to apply.

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                             45.      Further, submits Mr. Jain, the said Article would apply only
                            where the Lessee (i.e. the petitioner) fails to remedy the breach within
                            thirty days from the date on which it was notified by the Service
                            Provider (i.e. the respondent) thereof. No such communication,
                            notifying the petitioner of any particular breach, of the MSA, as
                            having been committed by it, was, Mr. Jain points out, ever issued by
                            the respondent.

                            46.      Apropos the e-mail, dated 25th December, 2019, whereby the
                            respondent sought to terminate the MSA, Mr. Jain submits that the
                            communication was non-speaking in nature and did not set out any
                            reasons for the decision to terminate the MSA and vacate the
                            premises, except for stating that the respondent was unable to work
                            therein. There was no allegation, in the said communication, of any
                            default, by the petitioner in compliance with the terms of the MSA. It
                            was only when the petitioner invoked, in its response, dated 25 th
                            December, 2020 and 1st January, 2020, Article 9.1.1 of the MSA, that
                            the respondent, for the first time, in its e-mail, dated 15th January,
                            2020, alleged that the petitioner had defaulted in obtaining the
                            necessary licenses/approvals/permissions and NOCs. Even while so
                            alleging, it is pointed out that the communication was completely
                            silent     regarding         the   particulars   and   specifics    of     the
                            licenses/approvals/permissions and NOCs, which the petitioner had
                            failed to obtain. The petitioner, he points out, drew the attention of
                            the respondent, repeatedly, to this fact, but that the respondent, in all
                            its responses, merely continued to allege that the petitioner had
                            defaulted in obtaining the necessary licenses/approvals/permissions

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                            and NOCs, without disclosing the specifics thereof.
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                             47.     Mr. Jain points out that it was only when the matter reached
                            this Court, for the first time, in para 3 (d) of its reply to the petitioner,
                            that the respondent has alleged, specifically, that the petitioner had not
                            provided the latest sanctioned building plan of the subject property
                            and the revised CTO. This allegation, submits Mr. Jain, was clearly
                            false, as has been pointed out by the petitioner, in its rejoinder to the
                            reply filed by the respondent to the present petition. The petitioner has
                            also filed, with its rejoinder, the building plan of the premises, which,
                            he submits, stands approved by the DDA on 29th January, 2010. It has
                            also filed the CPO, by the DPCC, issued on 26 th June, 2019 - i.e.
                            points out Mr. Jain, even before the MSA, between the petitioner and
                            respondent was entered into - which has expressly been made valid
                            till 14th December, 2023.


                            48.    Mr. Jain would, therefore, seek to contend that, while raising a
                            bogey, in its communication to the petitioner, of the petitioner having
                            defaulted in obtaining necessary licenses/approvals/permissions and
                            NOCs, merely in order to escape the liability cast on it by Article
                            3.3(ii) of the MSA, the respondent, on being driven to a corner by the
                            filing of the present petition by the petitioner, has, as a desperate
                            measure, sought to allege default, on the part of the petitioner, in
                            providing the sanctioned building plan and approved CPO, both of
                            which had, in fact, been provided by the petitioner, as was known to
                            the respondent all along.




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                             49.    The petitioner has also denied the assertion, of the respondent,
                            that it had vacated the subject property on 31st December, 2019. In
                            this context, the petitioner has pointed out that it never received the
                            letters dated 26th February, 2020 and 13th March, 2020, stated to have
                            been sent by the respondent and that it was for the first time, in its
                            legal notice, dated 30th March, 2020, that the petitioner came to know
                            of this averment of the respondent.


                            50.    Mr. Jain further submits that the reliance, by the respondent, on
                            the e-mail dated 14th January, 2020 supra, from the petitioner to its
                            landlord, was completely misguided, as the said e-mail could not, in
                            any manner be said to justify the premature termination of the MSA
                            by the respondent. It is pointed out, by the petitioner, that the e-mail,
                            dated 14th January, 2020, and the alleged termination, thereby, of the
                            lease between the petitioner and its landlord, was never taken as a
                            ground, by the respondent, to justify termination of the MSA in any of
                            its communications, addressed to the petitioner, which, rather, sought
                            to justify such termination on the ground of failure, on the part of the
                            petitioner, to obtain necessary licences, NOCs, permissions and
                            approvals. The respondent, therefore, contends Mr. Jain, has been
                            vacillating in its stance, asserting, at one point, that the petitioner was
                            in default of Article 5.2.6 of the MSA, and, at another (in the affidavit
                            filed in response to the petition), that the respondent had exited from
                            the premises in view of the termination of the lease between the
                            petitioner and its landlord.




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                             51.      Moreover, points out Mr. Jain, the e-mail, dated 14th January,
                            2020, was merely in the nature of an intimation, by the petitioner, to
                            its landlord, that, as the respondent was seeking to terminate the MSA
                            and vacate the premises, the petitioner would not be able to run
                            operations therein and would, therefore, vacate the subject property.
                            Any such vacation, points out Mr. Jain, had necessarily to be preceded
                            by handing over of the subject property, by the respondent to the
                            petitioner, which itself never took place.


                            52.      Mr. Jain also sought to distinguish the decision in Tower
                            Vision1 by referring to Article 3.3(iii) of the MSA, and has pointed out
                            that no similar clause was available in Tower Vision1. In view of the
                            fact that Article 3.3(iii) of the MSA expressly stated that the liquidated
                            damages, payable under Article 3.3(ii) were in the nature of a genuine
                            pre-estimate of damages, and were not in the nature of a penalty, Mr.
                            Jain submits that the respondent could not seek to escape its liability
                            thereunder. That apart, Mr. Jain points out that Tower Vision1 was in
                            the context of Section 433 of the Companies Act, which statutorily
                            contemplates an undeniable debt. It would be fallacious, contends Mr.
                            Jain, to analogize the situation that obtained, in Tower Vision1, with
                            that which obtains in the present case.       Insofar as non-refund of
                            security deposit is concerned, Mr. Jain submits that premature
                            termination of the MSA could not be justified on the basis thereof and
                            relies, for the said purpose, on the judgment of this Court in M/s
                            General Electronics International Inc. v. M/s U.C. Jain HUF2,



                            2   MANU/DE/1332/2009
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                             specifically on para 26 of the said decision. He also relies, in this
                            context, on para 107 of H.S. Bedi vs. NHAI3.


                            53.        Mr. Jeevan Ballav Panda, learned Counsel for the respondent,
                            responding to the submissions of Mr. Ankit Jain, submits, at the very
                            outset, that, as the lease between the petitioner and its landlord stood
                            terminated by the e-mail, dated 14th January, 2020 supra, there could
                            be no question of the respondent continuing to operate from the said
                            premises, or of any liability, by the respondent towards the petitioner,
                            after the said date. It was for this reason, he submits, that his client
                            vacated the subject property on 31st December, 2019. To substantiate
                            his submission that the lease between the petitioner, and its landlord,
                            in fact, stood terminated, on 14th January, 2020, Mr. Jeevan Ballav
                            Panda also relies on the opening sentence of para 2 of the
                            communication dated 22nd May, 2020, addressed by the petitioner
                            (through counsel) to the respondent, extracted in para 54 supra. Even
                            while so submitting, Mr. Jeevan Ballav Panda admits, fairly, that there
                            was no consensus ad idem, between the petitioner and its landlord,
                            regarding the date of termination of the lease between them, as the
                            petitioner was contending that the lease stood terminated on 14th
                            January, 2020, and the petitioner's landlord was seeking to contend
                            that it terminated only on 30th April, 2020. Even so, submits Mr.
                            Jeevan Ballav Panda, having taken a stand, in its communications with
                            its landlord, that the lease between the petitioner and its landlord stood
                            terminated on 14th January, 2020, it was not open to the petitioner to



                            3   2015 (220) DLT 179
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                             maintain, at this point, any claim against the respondent, for any
                            period after the said date.


                            54.    Mr. Jeevan Ballav Panda also places emphatic reliance on
                            Tower Vision1, especially on paras 24, 25 and 28 of the said decision
                            which, therefore, may be reproduced thus :

                                   "24. What follows from the above is that even if there is a
                                   clause of liquidated damages, in a given case, it is for the
                                   Court to determine as to whether it represents genuine pre-
                                   estimate of damages. In that eventuality, this provision only
                                   dispenses with the proof of "actual loss or damage".
                                   However, the person claiming the liquidated damages is still
                                   to prove that the legal injury resulted because of breach and
                                   he suffered some loss. In the process, he may also be called
                                   upon to show that he took all reasonable steps to mitigate the
                                   loss. It is only after proper enquiry into these aspects that the
                                   Court in a given case would rule as to whether liquidated
                                   damages as prescribed in the contract are to be awarded or
                                   not. Even if there is a stipulation by way of liquidated
                                   damages, a party complaining of breach of contract can
                                   recover only reasonable compensation for the injury sustained
                                   by him and what is stipulated in the contract is the outer limit
                                   beyond which he cannot claim. Unless this kind of
                                   determination is done by the Court, it does not result into
                                   "debt".

                                   25.    At this juncture, we would like to refer to the judgment
                                   of Bombay High Court in the case of E-City Media Private
                                   Limited a Private Limited Company v. Sadhrta Retail
                                   Limited a Public Limited Company, [2010] 153 Comp.Cas
                                   326 (Bom.) (rendered by Single Judge). In this case also,
                                   winding up petition was filed on account of alleged dues
                                   stipulated in the contract in case of breach. Facts of the case
                                   disclose that the petitioner had appointed the respondent as an
                                   exclusive agent for designated branding sites situated within
                                   the premises of a shopping mall. The petitioner had permitted
                                   the respondent to display advertisements at the Mall, in a
                                   theatre and upon ticket jackets. The contract was to
                                   commence on 22.5.2008 and was to conclude on 31.7.2009.
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                                    This term was extended by a formal amendment till
                                   September, 2009. The agreement also provided that in the
                                   event respondent fail to make payment for a period of one
                                   month, during the term of the agreement, the petitioner would
                                   be at liberty to terminate the agreement with notice of seven
                                   days. In that event, respondent was obliged to make good
                                   losses and damages which may be suffered by the petitioner.
                                   The respondent was liable to pay entire royalty/minimum
                                   guaranteed amount mentioned in the agreement with interest
                                   @ 18% per annum on alleged breach committed by the
                                   respondent. The petitioner terminated the contract and
                                   demanded the entire amount of royalty/minimum guaranteed
                                   amount. On the respondents failure to pay, winding up
                                   petition was filed. The Court dismissed the said petition
                                   holding that it was not maintainable upon a claim for damages
                                   which could not be treated as debt. It was held that damages
                                   become payable only when they are crystallized upon
                                   adjudication. Until and unless an adjudication takes place
                                   with a resultant decree for damages, there is no debt due and
                                   payable. Damages require adjudication. Until then, the
                                   liability of a party in alleged breach of a contract does not
                                   become crystallized. In support of this view, the Court
                                   referred to a Division Bench judgment of Karnataka High
                                   Court in Greenhills Exports (P) Ltd. v. Coffee Board,
                                   Bangalore, [2001] 106 Comp.Cas 391 (Kar) in the following
                                   words:

                                           "...Mr. Justice R.V. Raveendran (as the Learned Judge
                                           then was) speaking for the Division Bench formulated
                                           the propositions of law which emerge from judgments
                                           of the Supreme Court and the High Court. The Court
                                           held as follows:

                                                  (i) A "Debt" is a sum of money which is now
                                                  payable or will become payable in future by
                                                  reason of a present obligation. The existing
                                                  obligation to pay a sum of money is the sine qua
                                                  non of a debt.

                                                  "Damages" is money claimed by, or ordered to
                                                  be paid to; a person as compensation for loss or
                                                  injury. It merely remains a claim till
                                                  adjudication by a court and becomes a "debt"
                                                  when a court awards it.
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                                                   (ii) In regard to a claim for damages (whether
                                                  liquidated or unliquidated), there is no "existing
                                                  obligation" to pay any amount. No pecuniary
                                                  liability in regard to a claim for damages, arises
                                                  till a court adjudicates upon the claim for
                                                  damages and holds that the defendant has
                                                  committed breach and has incurred a liability to
                                                  compensate the plaintiff for the loss and then
                                                  assesses the quantum of such liability. An
                                                  alleged default or breach gives rise only to a
                                                  right to sue for damages and not to claim any
                                                  "debt". A claim for damages becomes a "debt
                                                  due", not when the loss is quantified by the
                                                  party complaining of breach, but when a
                                                  competent court holds on enquiry, that the
                                                  person against whom the claim for damages is
                                                  made, has committed breach and incurred a
                                                  pecuniary liability        towards the party
                                                  complaining of breach and assesses the
                                                  quantum of loss and awards damages. Damages
                                                  are payable on account of a fiat of the court and
                                                  not on account of quantification by the person
                                                  alleging breach.

                                                  (iii) When the contract does not stipulate the
                                                  quantum of damages, the court will assess and
                                                  award compensation in accordance with the
                                                  principles laid down in Section 73. Where the
                                                  contract stipulates the quantum of damages or
                                                  amounts to be recovered as damages, then the
                                                  party complaining of breach can recover
                                                  reasonable compensation, the stipulated amount
                                                  being merely the outside limit.

                                                  (iv)...

                                                  (v) Even if the loss is ascertainable and the
                                                  amount claimed as damages has been calculated
                                                  and ascertained in the manner stipulated in the
                                                  contract, by the party claiming damages, that
                                                  will not convert a claim for damages into a
                                                  claim for an ascertained sum due. Liability to
                                                  pay damages arises only when a party is found
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                                                     to have committed breach. Ascertainment of the
                                                    amount awardable as damages is only
                                                    consequential.

                                       28.    This is a case where the premises were given by the
                                       petitioner to the respondent on license basis vide lease and
                                       license agreement dated 18.2.2008. Lock-in period of 33
                                       months was prescribed and the entire amount is claimed on
                                       account of premature termination of agreement by the
                                       respondent. The petitioner is claiming total amount of the
                                       lock-in period. It is nowhere stated as to how it has suffered
                                       any loss on this account and whether the liquidated damages
                                       stipulated in the agreement are genuine pre-estimate damages.
                                       Once we have accepted the judgment in Manju Bagai (supra)
                                       and we are also in agreement with the view taken by the
                                       Bombay High Court in E-City Media Private Limited
                                       (supra), the consequence of that would be to dismiss this
                                       petition as well."
                                                                                 (Emphasis supplied)


                            55.        The afore-extracted passages from Tower Vision1, submits Mr.
                            Jeevan Ballav Panda, clearly underscore the legal position that, even if
                            a clause, contemplating liquidated damages, existed in the MSA, the
                            petitioner would, nevertheless, have to establish, on evidence, that the
                            liquidated damages sought by it were in the nature of a genuine pre-
                            estimate of damages, failing which no claim for liquidated damages
                            could sustain.


                            56.        Mr. Jeevan Ballav Panda submits that the validity of the
                            termination, by the respondent, of the MSA, was an issue which was
                            entirely within the domain of the arbitrator, who would adjudicate
                            thereon. He relies on the decision of the Supreme Court in Kailash
                            Nath Associates v. DDA4, to contend that the legality of the

                            4   (2015) 4 SCC 136
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                             termination cannot be tested in a petition under Section 9 of the 1996
                            Act.    It is pointed out, in the context of this judgment, that the
                            petitioner has not sought to make out a case that it was impossible to
                            prove actual loss or damage.


                            57.    Reverting to Tower Vision1, Mr. Jeevan Ballav Panda points
                            out that, even assuming there had been a premature and unsustainable
                            termination of the MSA by the respondent, the petitioner would be
                            entitled, consequently, only to "reasonable compensation for the
                            injury sustained by him". As on date, submits Mr. Jeevan Ballav
                            Panda, the petitioner has not sustained any injury. Even if he were to
                            sustain injury, the petitioner would be entitled, not to liquidated
                            damages, but only to reasonable compensation. As such, submits Mr.
                            Jeevan Ballav Panda, the petitioner does not have any right to sue in
                            praesenti.

                            58.    Mr. Jeevan Ballav Panda also refers to the notice, dated 6th
                            February, 2020, from the petitioner, whereby it invoked Article 10 of
                            the MSA, which provided for arbitration. It is pointed out, by Mr.
                            Jeevan Ballav Panda, that the amounts claimed in the notice were the
                            same as those which were sought to be secured in the present petition,
                            which, according to him, was clearly impermissible.

                            59.    I may, even at this juncture, state that I am unable to appreciate
                            this submission, of Mr. Jeevan Ballav Panda, as it is but natural that
                            the claim, in the notice invoking arbitration, would be the same as the
                            claim in that Section 9 petition, where the prayer is for directing
                            furnishing of security.
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                             60.    Mr. Jeevan Ballav Panda further submits that the petitioner was
                            not facing any prejudice, as an amount of ₹ 45 lakhs was lying with
                            the petitioner.


                            61.    Insofar as the specific requirements of Article 9.1.2 of the MSA
                            are concerned, Mr. Jeevan Ballav Panda submits that, though the
                            termination of the MSA, as purportedly effected by his client, by the
                            communication dated 25th February, 2019, may not be strictly in
                            compliance with Clause 9.1.2, the communication, dated 25th
                            December, 2019 did nevertheless, terminate the MSA. Besides, Mr.
                            Jeevan Ballav Panda relies on the communication, dated 14th January,
                            2020 supra (through counsel) between the petitioner and its landlord
                            to contend that the petitioner had acted on the aforesaid
                            communication, dated 25th February, 2019, and treated it as an
                            effective termination of the MSA.


                            62.    Insofar as the communications dated 26th February, 2020 and
                            13th March, 2020 are concerned, Mr. Jeevan Ballav Panda submits
                            that, as repeated attempts have been made by the courier company to
                            deliver the consignment, but delivery could not be effected only
                            owing to non-availability of the petitioner, the petitioner was deemed
                            to have been served with the said letters. In any event, he points out,
                            prayer (i) in the petition did not survive for consideration, as the
                            respondent was willing to hand over the keys of the subject property
                            to the petitioner.


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                             63.        Finally, Mr. Jeevan Ballav Panda reiterates his submission that
                            the petitioner could not seek to secure any amount towards liquidated
                            damages, even if claimed under Article 3.3 (ii) of the MSA, prior to
                            trial and determination of liability, by the competently constituted
                            arbitral tribunal. Such securing of liquidated damages, he submits
                            could not be directed in a petition under Section 9 of the 1996 Act.


                            64.        Mr. Jeevan Ballav Panda seeks to distinguish the judgment of
                            this Court in General Electronics International Inc.2, on the ground
                            that the said decision was rendered in a petition under Section 34 of
                            the 1996 Act, questioning the arbitral award and had no applicability,
                            therefore, to a litigation relatable to Section 9 of the 1996 Act. Mr.
                            Jeevan Ballav Panda also questions the right, of the petitioner, to
                            claim liquidated damages on the ground that there was no evidence to
                            indicate that the petitioner had taken any steps to mitigate its losses.


                            65.        For all these reasons submits Mr. Jeevan Ballav Panda, no case,
                            for passing of any interlocutory directions, under Section 9 of the
                            1996 Act, even before the dispute was referred to, and suffered,
                            adjudication by the arbitrator, exists.

                            66.        Mr. Jeevan Ballav Panda has also sought to place reliance on
                            the judgement, of a Division Bench of this Court in Associated
                            Journal Ltd v. ICRA Ltd5, the Special Leave Petition, preferred
                            against which, was dismissed, by the Supreme Court, on 12th April,
                            20136.

                            5   MANU/DE/0851/2012
                            6   Associated Journal Ltd v. ICRA Ltd, MANU/SCOR/20429/2013
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                             67.    Arguing in rejoinder, Mr. Ankit Jain submits that, once it was
                            acknowledged by Mr. Jeevan Ballav Panda, that the purported
                            termination of the MSA, by the communication dated 25th December,
                            2019, was in accordance with Article 9.1.2 thereof, Article 3.3(ii)
                            immediately kicked in, and rendered the respondent liable to pay
                            liquidated damages in terms thereof.          Mr. Jain reiterates his
                            submission that Tower Vision1 could not apply, in view of Article
                            3.3(iii), in the face of which it was not open to the respondent to seek
                            to contend that the liquidated damages, claimed under Article 3.3(ii)
                            did not constitute a genuine plea estimate of damage.


                            68.    The applicability of Article 3.3(ii), Mr. Jain points out, was, in
                            fact, acknowledged by the respondent itself, as was manifest in its
                            legal notice dated 30th March, 2020, as well as in other
                            communications wherein the respondent demanded, from the
                            petitioner, lock in pay outs, as mentioned in Annexure A to the MSA.
                            It is pointed out, by Mr. Jain, that his client is demanding from the
                            respondent, the very same lock-in pay-outs, which the respondent has,
                            in its communication to the petitioner demanded from the petitioner.


                            69.    Apropos the submission of Mr. Jeevan Ballav Panda, that there
                            could be no pre-arbitral payment of liquidated damages, before the
                            liability, of the respondent, to take such payment was determined, Mr.
                            Ankit Jain points out that, this petition does not pray for any such
                            payment being made out to his client but merely seeks to secure the


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                             amount involved, which is a remedy specifically statutorily
                            contemplated, by Section 9 of the 1996 Act.

                            Analysis and Conclusion


                            70.    Unlike Order XXXIX of the CPC, which relates to cases in
                            which "temporary injunction may be granted" by the Court, Section 9
                            of the 1996 Act delineates the circumstances in which the Court may
                            pass orders of "interim protection". The effort of the Section 9 court
                            is, therefore, to protect the corpus of the dispute, where it is found to
                            be arbitrable.


                            71.    The 1996 Act is, preambularly, "an Act to consolidate and
                            amend the law relating to domestic arbitration, international
                            commercial arbitration and enforcement of foreign arbitral awards as
                            also to define the law relating to conciliation and for matters
                            connected therewith or incidental thereto". In my opinion, exercise of
                            jurisdiction, by the Court, under the 1996 Act, has to be duly informed
                            by this preambular declaration. The 1996 Act is not a statute which
                            purports to delineate powers exercisable by a Court. It is a statute
                            which consolidates and applies the law relating to arbitration and
                            conciliation, and for matters connected therewith or incidental thereto.
                            Provisions, in the 1996 Act, which confers jurisdiction and authority
                            on the Court have, therefore, to be treated as provisions which are
                            "connected with", or "incidental to", the arbitral or conciliatory
                            process.    The 1996 Act does confer specific jurisdiction on civil
                            courts, in certain eventualities, but, in my view, the civil court would

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                             be erring, in law, if, in exercise of such jurisdiction, it remains
                            unmindful of the preamble to the 1996 Act.


                            72.    This position stands underscored by Section 5 of the 1996 Act,
                            which determines the "extent of judicial intervention", thereunder, and
                            commences with a non obstante clause. The provision stipulates that,
                            "notwithstanding anything contained in any other law for the time
                            being in force, in matters governed by this Part, no judicial authority
                            shall intervene except where so provided in this Part". The statutory
                            caution, administered by Section 5 must, in my view, also extend to
                            the exercise of jurisdiction under Section 9. The Section 9 court is,
                            therefore, to exercise jurisdiction strictly in accordance with the said
                            provision.

                            73.    This aspect is pivotal to the understanding of Section 9, and to
                            appreciating the amplitude of the jurisdiction conferred thereby. The
                            provision commences with the words "a party may, before or during
                            the arbitral proceedings or at any time after the making of the arbitral
                            award but before it is enforced in accordance with section 36..."
                            Jurisdiction, under the said provision can be exercised, by the Court,
                            either before arbitral proceedings, or during the arbitral proceedings,
                            or after making of the arbitral award but before enforcement thereof.
                            The thread that runs through the said expressions is, clearly, that there
                            must exist arbitral proceedings, current or contemplated. It is for this
                            reason that the Section 9 Court must be convinced that the petitioner,
                            before it, intends to initiate the arbitral process. Absent evidence of
                            such intent, it would be impermissible for the Court to pass orders

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                             74.        The Supreme Court has, in Sundaram Finance Ltd v. NEPC
                            India Ltd7, emphasised this aspect, by ruling that, before passing an
                            interim order under Section 9, the court is required to be satisfied
                            about the existence of an arbitration agreement, and the applicant's
                            intention to take the matter to arbitration.              The specific issue,
                            addressed by the Supreme Court in the said case, was delineated, in
                            the opening paragraph of the judgement, as "whether under Section 9
                            of the Arbitration and Conciliation Act, 1996, the court has
                            jurisdiction to pass interim orders even before arbitral proceedings
                            commence and before an arbitrator is appointed." The High Court had,
                            in that case, dismissed the Section 9 petition, filed by the appellant
                            (before the Supreme Court) on the ground that the appellant had not
                            initiated any efforts towards setting arbitral proceedings in motion.
                            The Supreme Court reversed the decision, and the following passages,
                            from the said decision, merit reproduction:

                                       "11. The reading of Section 21 clearly shows that the
                                       arbitral proceedings commence on the date on which a
                                       request for a dispute to be referred to arbitration is received
                                       by the respondent. It is in this context that we have to
                                       examine and interpret the expression "before or during
                                       arbitral proceedings" occurring in Section 9 of the 1996 Act.
                                       We may here observe that though Section 17 gives the
                                       Arbitral Tribunal the power to pass orders, the same cannot
                                       be enforced as orders of a court. It is for this reason that
                                       Section 9 admittedly gives the court power to pass interim
                                       orders during the arbitration proceedings.

                                                                   *****

                                       13.   Under the 1996 Act, the court can pass interim orders
                                       under Section 9. Arbitral proceedings, as we have seen,

                            7   (1999) 2 SCC 479
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                                    commence only when the request to refer the dispute is
                                   received by the respondent as per Section 21 of the Act. The
                                   material words occurring in Section 9 are "before or during
                                   the arbitral proceedings". This clearly contemplates two
                                   stages when the court can pass interim orders, i.e., during the
                                   arbitral proceedings or before the arbitral proceedings. There
                                   is no reason as to why Section 9 of the 1996 Act should not
                                   be literally construed. Meaning has to be given to the word
                                   "before" occurring in the said section. The only interpretation
                                   that can be given is that the court can pass interim orders
                                   before the commencement of arbitral proceedings. Any other
                                   interpretation, like the one given by the High Court, will have
                                   the effect of rendering the word "before" in Section 9 as
                                   redundant. This is clearly not permissible. Not only does the
                                   language warrants such an interpretation but it was necessary
                                   to have such a provision in the interest of justice. But for such
                                   a provision, no party would have a right to apply for interim
                                   measure before notice under Section 21 is received by the
                                   respondent. It is not unknown when it becomes difficult to
                                   serve the respondents. It was, therefore, necessary that
                                   provision was made in the Act which could enable a party to
                                   get interim relief urgently in order to protect its interest.
                                   Reading the section as a whole it appears to us that the court
                                   has jurisdiction to entertain an application under Section 9
                                   either before arbitral proceedings or during arbitral
                                   proceedings or after the making of the arbitral award but
                                   before it is enforced in accordance with Section 36 of the Act.

                                                                *****

                                   16.    In our opinion, this view correctly represents the
                                   position in law, namely, that even before the commencement
                                   of arbitral proceedings, the court can grant interim relief. The
                                   said provision contains the same principle which underlies
                                   Section 9 of the 1996 Act.

                                                                *****

                                   19.     When a party applies under Section 9 of the 1996 Act,
                                   it is implicit that it accepts that there is a final and binding
                                   arbitration agreement in existence. It is also implicit that a
                                   dispute must have arisen which is referable to the Arbitral
                                   Tribunal. Section 9 further contemplates arbitration
                                   proceedings taking place between the parties. Mr
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                                    Subramanium is, therefore, right in submitting that when an
                                   application under Section 9 is filed before the commencement
                                   of the arbitral proceedings, there has to be manifest intention
                                   on the part of the applicant to take recourse to the arbitral
                                   proceedings if, at the time when the application under Section
                                   9 is filed, the proceedings have not commenced under Section
                                   21 of the 1996 Act. In order to give full effect to the words
                                   "before or during arbitral proceedings" occurring in Section
                                   9, it would not be necessary that a notice invoking the
                                   arbitration clause must be issued to the opposite party before
                                   an application under Section 9 can be filed. The issuance of a
                                   notice may, in a given case, be sufficient to establish the
                                   manifest intention to have the dispute referred to an Arbitral
                                   Tribunal, but a situation may so demand that a party may
                                   choose to apply under Section 9 for an interim measure even
                                   before issuing a notice contemplated by Section 21 of the said
                                   Act. If an application is so made, the court will first have to
                                   be satisfied that there exists a valid arbitration agreement
                                   and the applicant intends to take the dispute to arbitration.
                                   Once it is so satisfied, the court will have the jurisdiction to
                                   pass orders under Section 9 giving such interim protection as
                                   the facts and circumstances warrant. While passing such an
                                   order and in order to ensure that effective steps are taken to
                                   commence the arbitral proceedings, the court while
                                   exercising jurisdiction under Section 9 can pass a conditional
                                   order to put the applicant to such terms as it may deem fit
                                   with a view to see that effective steps are taken by the
                                   applicant for commencing the arbitral proceedings. What is
                                   apparent, however, is that the court is not debarred from
                                   dealing with an application under Section 9 merely because
                                   no notice has been issued under Section 21 of the 1996 Act.

                                                                *****

                                   21.     In view of the aforesaid discussions, it follows that the
                                   High Court erred in coming to the conclusion that the trial
                                   court had no jurisdiction in entertaining the application under
                                   Section 9 because arbitration proceedings had not been
                                   initiated by the appellant."
                                                                              (Emphasis supplied)




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                             75.    Before exercising jurisdiction under Section 9, therefore, the
                            Court has to satisfy itself that there exists (i) an arbitration agreement,
                            (ii) an arbitral dispute and (iii) manifest intention, on the part of the
                            petitioner, to initiate arbitral proceedings.      Issuance of a notice
                            invoking arbitration is, however, not a sine qua non, for manifest
                            intention to initiate arbitral proceedings to be said to exist. If, such a
                            notice is issued, that, by itself, may be sufficient to evince the
                            existence of such intention. The existence of intention has, however,
                            necessarily to be determined, on a case to case basis, depending on the
                            facts before the court. Non-existence of evidence of such intent,
                            therefore, would render the Section 9 petition incompetent. Where
                            intent to initiate arbitral proceedings exists, but no steps, towards
                            fructification of such intent, have yet been initiated by the petitioner,
                            then the Section 9 court is empowered, therefore, to put the petitioner
                            to terms, even while granting interim protection under Section 9.
                            These, to my mind, had to be treated as the guiding principles for
                            every court, seeking to exercise jurisdiction under Section 9 of the
                            1996 Act.


                            76.    Subject to observing these safeguards, the principles governing
                            exercise of discretion under Section 9 are the same as those which
                            apply to grant of interim relief under Order XXXIX of the CPC, i.e.
                            the existence of a prima facie case in favour of the Section 9
                            applicant, the balance of convenience being in favour of grant of
                            "interim protection" and the possibility of irreparable loss or
                            prejudice, were such interim protection not to be granted.


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                             77.    The very use of the word "protection", however, necessarily
                            predicates the existence of something, which is required to be
                            protected.     This, therefore, introduces a fourth factor, which the
                            Section 9 court is required to bear in mind. The Section 9 petitioner
                            was also required to establish, to the satisfaction of the court, the
                            existence of circumstances which require grant of interim protection
                            and urgent necessity. Expressed otherwise, the Section 9 court is
                            required to be satisfied that, were interim protection not to be granted,
                            there is a possibility of the arbitral proceedings being frustrated. Only
                            thus could the court be able to act in furtherance of the preambular
                            purpose      behind    the   1996   Act,   i.e.,   to   ensure   successful
                            commencement,         conducting    and    conclusion    of   the      arbitral
                            proceedings, and resolution, thereby, of the dispute between the
                            parties before it.

                            78.    While exercising jurisdiction under Section 9, the Court is
                            required to be mindful of the fact that it is not a pre-arbitral arbitrator.
                            The Court should not, therefore, entrench on the jurisdiction of the
                            arbitral tribunal, to determine whether interim measures of protection,
                            during the pendency of the arbitral proceedings, are required to be
                            granted, or not. This jurisdiction vests, statutorily, on the arbitral
                            tribunal, by Section 17.

                            79.    Whether under Section 9, or under Section 17, sub-clause
                            (1)(ii)(b), which empowers the Court (under Section 9) or the Arbitral
                            Tribunal (under Section 17) to secure the amount in dispute in the
                            arbitration, is to be administered with additional caution, as grant of
                            any relief, under this sub-clause, would also be justified only if it is by
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                             way of "interim protection". For this reason, though there is some
                            ambivalence, in judicial thought, on this aspect, it is generally
                            accepted that the principles governing Order XXXVIII Rule 5 would,
                            generally, be applicable, while considering a prayer for furnishing of
                            security, under Section 9(1)(ii)(b) or Section 17(1)(ii)(b)8.                          The
                            principle, enunciated by the Supreme Court in Raman Tech &
                            Process Engineering Co. v. Solanki Traders9 that, before being
                            entitled to relief by way of furnishing of security of the amount in
                            dispute in the arbitration, the petitioner has to satisfy the Court that the
                            respondent is attempting to remove, or dispose of its assets, with the
                            intention of defeating the decree that may be passed, has, generally,
                            been regarded as a guiding factor.


                            80.     These principles emerge out of a long line of decisions, which
                            this Court has, in its recent judgements in Avantha Holdings v. Vistra
                            ITCL India Ltd10 and CRSC Research and Design Institute v.
                            Dedicated Freight Corridor Corporation Of India Ltd11, attempted to
                            digest and distil.

                            81.     It remains, therefore, to apply these principles to the facts of the
                            present case.

                            82.     The petitioner contends that, after December 2019, the
                            respondent defaulted in making payments, as required by the MSA.


                            8  Ajay Singh v. Kal Airways Ltd, 2017 SCC Online Del 8934; BMW India Pvt Ltd v. Libra
                            Automotives Ltd, 261 (2019) DLT 579; Goodwill Non-Woven (P) Ltd v. Xcoal Energy and Resources
                            LLC, MANU/DE/1165/2020
                            9 (2008) 2 SCC 302
                            10 MANU/DE/1548/2020
                            11 MANU/DE/1803/2020
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                             The respondent contends, per contra, that it was not required to do so,
                            as, w.e.f. 31st December, 2019, the MSA stood terminated.

                            83.     Pivotal, to the assessment of whether the respondent was, or
                            was not, in breach of the MSA, is the question of whether, in fact, the
                            MSA itself stood terminated w.e.f. 31st December, 2019.

                            84.    The respondent has sought to contend that, in exercise of its
                            jurisdiction under Section 9, this Court cannot adjudicate on this
                            aspect and has relied, for the said purpose, on the decision in Kailash
                            Nath Associates4. The contention is summarily rejected, as Kailash
                            Nath Associates4 does not enunciate any such proposition and, in fact,
                            does not even deal with Section 9 of the 1996 Act. Indeed, where the
                            defence, of the respondent, to the claims of the petitioner, urged in a
                            petition under Section 9, is that the contract stands terminated, thereby
                            terminating, also, all liabilities of the respondent thereunder, I fail to
                            understand how the Court can be expected to arrive at a prima facie
                            finding, regarding the merits of the petitioner's claim, without, in the
                            first instance, examining, though again prima facie, whether the plea
                            of termination of the contract is justified, or not. Else, it would
                            become possible for the respondent, in every case, to illegally
                            terminate the contract with the petitioner and, on the petitioner
                            approaching this Court under Section 9, seeking securing of the
                            amount, to which the respondent became liable as a consequence of
                            such illegal termination, oppose the petition on the ground that this
                            Court cannot adjudicate on the validity of the termination.



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                             85.     I am unable to accept this proposition. Unquestionably, the
                            final decision, regarding the validity of the termination, would be
                            within the province and domain of the Arbitral Tribunal. If, however,
                            as in the present case, termination, if effected during the lock in period
                            without due justification, results in the respondent becoming liable to
                            make payment to the petitioner, the Section 9 court would, in my
                            view, be entirely within its jurisdiction in arriving at a prima facie
                            opinion regarding the validity of the termination, so as to appreciate
                            the submission, of the petitioner, regarding its entitlement to payment
                            from the respondent. Any contention that, the moment the contract is
                            terminated, even if illegally, the Section 9 Court stands denuded of its
                            power has, in my view, to be summarily rejected.

                            86.     In the present case, the respondent contends that the MSA
                            stood terminated w.e.f. 31st December, 2019, consequent on the e-mail
                            communication, dated 25th December, 2019 (reproduced in para 10
                            supra), from the respondent to the petitioner. I am unable to agree.
                            All that is stated, in the said communication, is that the respondent
                            was unable to continue with operations of the banquet, and desired to
                            vacate at the earliest. No reason, for the decision, is contained in the
                            communication dated 25th December, 2019.

                            87.     Termination, of a contract, has strictly to abide by the
                            covenants, in that regard, as engrafted in the contract itself.

                            88.     The MSA contained, in Article 9 and the various clauses
                            thereunder, the modes and methods by which it could be terminated.
                            It is not in dispute that the lock in period was yet to expire, on 31st
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                             December, 2019. The purported "termination", by the respondent, of
                            the MSA, therefore, took place during the lock in period. The right of
                            the Service Provider to terminate the MSA, during the lock in period,
                            is circumscribed by Article 9.1.2 thereof. Clauses (b) to (f) of Article
                            9.1.2 (which stands reproduced in para 7 supra), admittedly, do not
                            apply in the present case. The respondent could, therefore, at best,
                            pitch its case under clause (a) of Article 9.1.2. This clause permits the
                            service provider to terminate the MSA any time, in the event of
                            material breach of the MSA by the lessee, i.e. the petitioner in the
                            present case, if the lessee fails to remedy the said breach within 30
                            days from the date on which it is notified thereof. Mr. Jeevan Ballav
                            Panda has not been able to draw my attention to any communication,
                            prior to 25th December, 2019, whereby the respondent has notified the
                            petitioner of any breach, on its part, of the covenants of the MSA.
                            Notification, to the other party, of such breach, and grant of 30 days'
                            time to the other party to remedy the breach, are indispensable
                            prerequisites, before clause (a) of Article 9.1.2 could apply. Mr. Ankit
                            Jain specifically drew attention to the fact that these prerequisites were
                            never satisfied in the present case, and Mr. Jeevan Ballav Panda was
                            unable to dispute the proposition. In fact, Mr. Jeevan Ballav Panda,
                            while acknowledging that the termination of the MSA, by the
                            respondent, may not, strictly speaking, have been in accordance with
                            the covenants in the MSA, sought to contend that the communication,
                            dated 25th December, 2019, nevertheless, terminated the MSA. The
                            argument has merely to be noted to be rejected. Termination of the
                            contract has strictly to abide by the covenants of the contract,
                            providing for termination.     The parties to a contract, especially a
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                             commercial contract, are inextricably bound by the specifications and
                            stipulations contained therein. As there was no communication, prior
                            to 25th December, 2019, from the respondent to the petitioner, drawing
                            the attention, of the latter, to any breach of the covenants of the MSA,
                            far less grant of 30 days' time, to the petitioner, to remedy such
                            breach, the communication, dated 25th December, 2019, cannot be
                            said to have terminated the MSA. The MSA, therefore, continued to
                            remain in force even after the said communication. The contention, of
                            Mr. Jeevan Ballav Panda, to the contrary, prima facie, fails to impress.


                            89.    Mr. Jeevan Ballav Panda also sought to place reliance, in the
                            above context, on the recital in para 2 of the legal notice, dated 22nd
                            May, 2020, from the petitioner to the Counsel for the landlord of the
                            premises, Raja Varshney. The reliance, by the respondent, is to the
                            reference, in para 2 of the said legal notice, to "the termination of the
                            present lease", as stated to have been communicated, by the petitioner
                            to the landlord vide email dated 14th January, 2020.


                            90.     In the first place, I am unable to understand how the respondent
                            could seek to rely on a communication, by the lawyer for the
                            petitioner, to the lawyer of the petitioner's landlord. Recitals in such a
                            communication cannot, by any stretch of imagination, terminate the
                            contractual relationship between the petitioner and respondent. Even
                            assuming, therefore, arguendo, that the petitioner had communicated,
                            to its landlord, that the MSA stood terminated, that cannot, ipso facto,
                            terminate the MSA, which was not between the petitioner and its
                            landlord, but between the petitioner and the respondent.             Such
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                             termination could take place only in accordance with Article 19 of the
                            MSA which, otherwise, would be reduced to a dead letter.

                            91.     Besides, such a recital, at worst, was in the nature of a
                            contention by the petitioner, in response to the legal notice issued by
                            the landlord. Mr. Jeevan Ballav Panda fairly acknowledged that the
                            petitioner's landlord did not accept this contention, but asserted, per
                            contra, that the MSA was terminated only in April, 2020.           Even
                            between the petitioner and its landlord Raja Varshney, therefore, the
                            date of termination of the MSA was in dispute.         There was no
                            consensus, ad idem, on this aspect. The reliance, by Mr. Jeevan
                            Ballav Panda, on the communication dated 22nd May, 2020, to
                            contend that the MSA stood terminated w.e.f. 31st December, 2019 is
                            also, therefore, prima facie misconceived.

                            92.     Besides, even if it were to be assumed that the respondent
                            terminated the MSA vide its communication dated 25th December,
                            2019, such termination, not having been effected for any reason
                            contemplated by Article 9, the respondent would, prima facie, be
                            visited with the liability cast by Article 3.3(ii) of the MSA. This
                            clause specifically ordains that, in the event of termination, by the
                            service provider, i.e. the respondent, of the MSA, during the lock-in
                            period, for any reason other than those referred under Article 9, the
                            service provider would be liable to pay liquidated damages, to the
                            petitioner, of an amount equivalent to the applicable Benchmark
                            Revenue for every month of the remaining lock-in period.            The
                            demand, by the petitioner, to the respondent, for compliance with this

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                             clause, and payment of the liability cast on the respondent thereunder,
                            therefore, prima facie had merit.

                            93.     In this context, Mr. Jeevan Ballav Panda sought to contend that
                            liquidated damages, even in a case of breach of contract, could be
                            claimed only if there was proof of injury having been sustained by the
                            claimant as a consequence of such breach, and, even in such a case,
                            would have to be restricted to a "reasonable amount". Reliance has
                            been placed, by Mr. Jeevan Ballav Panda, for the purpose, on the
                            judgement of this Court in Tower Vision India Pvt. Ltd.1 Mr. Jain
                            contends, per contra, that Tower Vision India Pvt. Ltd.1 is
                            distinguishable on facts.

                            94.      The covenants of the contract, in Tower Vision India Pvt.
                            Ltd.1, which provided for the liquidated damages in the case of breach,
                            is clearly distinguishable from Article 3.3 in the present case. Clauses
                            11.3 and 11.4 of the agreement under consideration in Tower Vision
                            India Pvt. Ltd.1, read thus:

                                   "11.3 Anchor Sires: with Respondent to Anchor Sites a Lock
                                   In period of 10 (ten) years shall apply, however, the Operator
                                   shall be liable for payment of the IP Fees with respect to any
                                   specific Anchor Site as follows:

                                   11.3.1 If the termination takes place during the initial 2 (two)
                                   years as of Commencement Date, then the Operator will pay
                                   100% of the IP Fees for the balance of the initial 2 year period
                                   and 50% of the IP Fees for the remaining 8 years.

                                   11.3.2 If the termination takes place after the initial 2 (two)
                                   years as of the commencement date then the Operator will
                                   pay 50% of the IP fees for the remaining of the 10 years Lock
                                   In Period.
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                                    11.4 Shared Sites: with respect to Shared Site, a Lock In
                                   Period of 5 (Five) years shall apply, however, the Operator
                                   shall be liable for payment of the IP Fees with respect to any
                                   specific Shared Site as follows:

                                   11.4.1 If the termination takes place during the initial 2 (two)
                                   years as of Commencement Date, then the Operator will pay
                                   100% of the IP Fees for the balance of the initial 2 year period
                                   and 30% of the IP fees for the remaining 3 years.

                                   11.4.2 If the termination takes place after the initial 2 (two)
                                   years as of Commencement date, then the Operator will pay
                                   30% of the IP Fees for the remaining of the 5 year Lock In
                                   Period."


                            There was, therefore, no covenant, akin to Article 3.3(iii), in the
                            present case, in the Agreement forming subject matter of
                            consideration in Tower Vision India Pvt. Ltd.1 In fact, this Court held,
                            in para 18 of the report, thus:
                                   "Thus, while on one hand, damages as a result of breach are
                                   to be proved to claim the same from the person who has
                                   broken the contract and actual loss suffered can be claimed,
                                   on the other hand, Section 74 of the Act entitles a party to
                                   claim reasonable compensation from the party who has
                                   broken the contract which compensation can be pre-
                                   determined compensation stipulated at the time of entering
                                   into the contract itself. Thus, this section provides for pre-
                                   estimate of the damage or loss which a party is likely to suffer
                                   if the other party breaks the contract entered into between the
                                   two of them. If the sum named in the contract is found to be
                                   reasonable compensation, the party is entitled to receive that
                                   sum from the party who has broken the contract. Interpreting
                                   this provision, the Courts have held that such liquidated
                                   damages must be the result of a "genuine pre-estimate of
                                   damages". If they are penal in nature, then a penal
                                   stipulation cannot be enforced, that is, it should not be a sum
                                   fixed in terrarium or in terrarium. This action, therefore,
                                   merely dispenses with proof of "actual loss or damage".
                                   However, it does not justify the award of compensation when
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                                    in consequence of breach, no legal injury at all has resulted,
                                   because compensation for breach of contract can be awarded
                                   to make good loss or damage which naturally arose in the
                                   usual course of things, or which the parties knew when they
                                   made the contract, to be likely to result from the breach."
                                                               (Italics and underscoring supplied)


                            95.    In Kailash Nath Associates4, too, this principle finds
                            enunciation, in the following words:
                                   "Where a sum is named in a contract as a liquidated amount
                                   payable by way of damages, the party complaining of a
                                   breach can receive as reasonable compensation such
                                   liquidated amount only if it is a genuine pre-estimate of
                                   damages fixed by both parties and found to be such by the
                                   court."

                            96.    In the present case, Article 3.3(iii) itself covenants that the
                            liquidated damages, payable under Article 3.3(ii) are acknowledged,
                            by the parties, "to be a genuine and reasonable estimate of the
                            damages", and would "not be considered a penalty". Prima facie,
                            therefore, Section 74 of the Indian Contract Act, 1872, cannot operate
                            to disentitle the petitioner to payment, in accordance with Article
                            3.3(ii).


                            97.        Interestingly, and as correctly pointed out by Mr. Ankit Jain,
                            the respondent, in its notice dated 26th February, 2020, to the
                            petitioner, specifically stated that, as per its earlier notice, the
                            petitioner was "called upon to refund all amounts payable to (the
                            respondent) under the MSA without any delay or demur, including but
                            not limited to the amounts under lock in payouts and interest free
                            refundable security deposit".         What is sauce for the goose,
                            axiomatically, is sauce for the gander.
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                             98.     Of course, the final entitlement, of the petitioner, to the said
                            amount, would be subject to determination, by the court - i.e., in the
                            present case, by the Arbitral Tribunal - of such entitlement. A prima
                            facie case of entitlement, however, does, in my opinion, stands
                            established, in favour of the petitioner and against the respondent.

                            99.      No contest has been made, by the respondent, to the
                            quantification of liquidated damages, by the petitioner, even by way of
                            a residuary argument, the respondent having contented itself by
                            disputing the entitlement, of the petitioner, thereto. As I have held
                            that, prima facie, the entitlement of the petitioner to payment, by the
                            respondent, in accordance with Article 3.3(ii), stands made out, I am
                            not required, at least for the purposes of the present order, to enter into
                            the quantification thereof.

                            100.     A prima facie case of entitlement, in favour of the petitioner,
                            having thus been made out, it remains to be seen whether furnishing
                            of security, as prayed, would be justified on the principles of balance
                            of convenience, irreparable loss and on the indicia applicable to Order
                            XXXVIII Rule 5 of the CPC. These considerations, apropos Section
                            9(1)(ii)(b) of the 1996 Act, are interlinked, and may, therefore, be
                            examined together.

                            101.     The averments of the petitioner, in paras 27 to 30 of the
                            petition, the reply thereto, in the corresponding paras of the counter
                            affidavit filed by the respondent, and the rejoinder, by the petitioner,
                            thereto, may be reproduced, for ready reference, thus:
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                                    Paras 27 to 30 of the Petition:

                                   "27. That the respondent is in the process of winding up its
                                   affairs and its terminating various agreements with various
                                   persons/ entities. The petitioner has come to know that the
                                   business model of the respondent has completely failed and
                                   hence the respondent has decided to wind up its business in
                                   the near future. For the said reason the petitioner has come to
                                   know that respondent, is diverting its funds. The petitioner
                                   has also come to know that the respondent is diverting its
                                   funds in order to defeat any and all liabilities that the
                                   respondent may be found liable for.

                                   28.    That in fact, Mr. Mohit Jain the Director of the
                                   Petitioner herein had a telephonic conversation with Mr. Amit
                                   Vig, Vice President-Retail Sales & Banquets of the
                                   respondent and Mr. Hemant Pant, the Director of the Business
                                   Development Team of the respondent on 26.12.2019. In the
                                   said conversation Mr Mohit had specifically asked the said
                                   two officials of the respondent herein as to the reason for the
                                   intention of the respondent to terminate the agreement. On the
                                   same, the said officers of the respondent had informed Mr.
                                   Mohit Jain that they had entered into the Management
                                   Services Agreement dated 04.09.2019, however, the top
                                   management of the respondent had taken a decision to
                                   terminate the agreement in view of the fact that the
                                   respondent was not being able to make profit, as they had
                                   envisaged at the time of entering into the Management
                                   Services Agreement dated 04.09.2019.

                                   29.   That the aforesaid conversation would reveal that in
                                   view of the rising liabilities of the respondent, the respondent
                                   is winding up its business and is therefore, cancelling its
                                   agreements with various entities.

                                   30.    That the respondent is liable to immediately remove all
                                   its belonging from the said property and vacate the said
                                   property and hand over the same to the petitioner herein."

                                   Corresponding paragraphs of the reply of the respondent:



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                                    "27. The contents of the paragraph under Reply are denied
                                   as being false, baseless and misleading. It is specifically
                                   denied that the Respondent is in the process of winding up its
                                   affairs and terminating its agreements with various
                                   persons/entities. It is stated that the Petitioner has resorted to
                                   bald and reckless allegations to create prejudice and mislead
                                   the minds of right thinking people so as to create an illusion
                                   of a cause of action, when there exists none. The Respondent
                                   is one of the largest and fastest-growing hospitality chains of
                                   leased and franchised hotels, homes and living spaces and has
                                   multiple domestic and international investors. The
                                   Respondent in the month of March 2020 has raised a huge
                                   amount of funding from its major investors, as stated in the
                                   preceding paragraphs.

                                   Therefore, it is absurd on the part of the Petitioner to
                                   whimsically contend that the Respondent has decided to wind
                                   up its business in the near future or is diverting its funds in
                                   order to defeat any or all liabilities as alleged or otherwise or
                                   at all. The statements made under the paragraphs under
                                   reference are based on assumptions and hypothesis without
                                   the slightest of attempt or endeavor to ascertain the veracity
                                   of such allegations made. Therefore, no reliance or credence
                                   whatsoever can be placed by this Hon'ble Court on such
                                   factually incorrect and fictitious statements.

                                   28.     The contents of the paragraph under reference and
                                   specifically the contents of the compact disk (copy not served
                                   on the Respondent) allegedly filed, the transcript of the
                                   purported telephonic conversation dated 26 December 2019 in
                                   Hindi and its purported English translation are denied and
                                   disputed in its entirety and the Petitioner is put to strict proof
                                   thereof by cogent evidence. It is denied that any official had
                                   been formally authorized by the Respondent to act in their
                                   official capacity and make any statement as has been sought
                                   to be alleged in the paragraph under reference. Assuming
                                   although not admitting that such a conversation did take
                                   place, the Respondent denies the same for want of knowledge
                                   and lack of authority of any individuals concerned.

                                   29.   The contents of the paragraph under Reply are denied
                                   and disputed as being false and baseless. In this connection,
                                   the contents of the preceding paragraph are referred to and
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                                    relied upon and are not being repeated for the sake of brevity
                                   and avoiding prolixity.

                                   30.    The contents of the paragraph under Reply are denied
                                   as being false and contrary to the records. It is reiterated that
                                   the Respondent has already vacated the property on 31
                                   December 2019 and has also handed over the keys of the
                                   property to the Petitioner and does not have any movable
                                   property lying at the premises. In fact, a statement to that
                                   effect was made on behalf of the Respondent before the
                                   Hon'ble Court during the proceedings dated 5 June 2020 and
                                   the same was also recorded in the order dated 5 June 2020. As
                                   stated hereinabove the Petitioner has itself terminated the
                                   lease with its landlord vide an email dated 14 January 2020,
                                   which could not have been possible without the Petitioner
                                   having possession of the premises. In this connection, reliance
                                   is placed on the contents of the letters dated 26 February 2020
                                   and 13 March 2020 issued by the Respondent to the
                                   Petitioner."

                                   Corresponding paragraphs of the rejoinder :

                                   "27. That the contents of Para No.27 of the reply are wrong
                                   and denied and the contents of corresponding Para of the
                                   petition are reiterated and reaffirmed as correct. It is denied
                                   that the Petitioner has resorted to bald or reckless allegations
                                   to create any prejudice or mislead the minds of right thinking
                                   people so as to create an illusion of a cause of action, when
                                   there exists none. It is denied that the Respondent is one of
                                   the largest and fastest growing hospitality chains of leased
                                   and franchised hotels, homes and living spaces or has
                                   multiple domestic and international investors. It is denied that
                                   the     Respondent       in      the     month    of      March
                                   2020 has raised a huge amount of funding from its major
                                   investors, as stated in the preceding paragraphs. It is denied
                                   that the statements made under the paragraphs under
                                   reference are based on assumptions and hypothesis without
                                   the slightest of attempt or endeavor to ascertain the veracity
                                   of such allegations made or that no reliance or credence
                                   whatsoever can be placed by this Hon'ble Court on such
                                   factually incorrect and fictitious statements.

                                   It is further submitted that after this incident, the petitioner
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                                    came to know that the respondent is a rank defaulter in
                                   fulfilling its requirements and has cheated many persons in a
                                   similar manner as the petitioner herein. Had the petitioner
                                   known about this fact, it would have never entered into the
                                   MSA with the respondent.

                                   Some of such cases are as follows, in March 2020,
                                   Hyderabad based hospitality company Conclave lnfratech
                                   moved the National Company Law Tribunal, Ahmedabad
                                   against OYO for non-payment of dues. Conclave lnfratech
                                   had accused OYO of breaching the assured revenue clause in
                                   the contract, under which it owned nearly Rs. 13 Lakhs every
                                   month since May 2018.

                                   In November 2019, a hotel owner from Bengaluru had also
                                   filed an FIR against Ritesh Agarwal and some other top
                                   executives over non-payment of the assured benchmark
                                   revenue        of     Rs.     7      Lakhs     per      month.
                                   In another case, the situation went out of hand in Sikkim in
                                   October 2019, when some hotel partners held four OYO
                                   employees hostage over unpaid dues. Hotel owners alleged
                                   that dues had piled up to Rs. 1 Crore. Sikkim Hotel and
                                   Restaurant Association added that instead of paying the dues,
                                   the company had sent the said employees to get more hotels
                                   on board. Besides, this there has been a series of protests
                                   against OYO since August 2019. Hotel owners, who were not
                                   affiliated to any major union or association, had also carried
                                   out independent protests in multiple Indian cities including
                                   Nashik, Pune, Kota, ·Manali, Jaipur, Ahmedabad and Delhi.
                                   Hence, in view of such large scale protests across the country
                                   the apprehensions of the petitioner are very much genuine and
                                   the figure of investors investing in the respondent company
                                   doesn't mean that the company is running successfully and
                                   earning huge profits, rather it is again adding up further
                                   liabilities upon the respondent company to pay back to such
                                   investors, which is the respondent . company is utterly failing.
                                   All        the     above       facts     came       to       the
                                   knowledge of the Petitioner from news reports.

                                   28-29.       That the contents of Para No.28 and 29 of the
                                   reply are wrong and denied and the contents of corresponding
                                   Para of the petition are reiterated and reaffirmed as correct.

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                                    30.    That the contents of Para No.30 of the reply are wrong
                                   and denied and the contents of corresponding Para of the
                                   petition are reiterated and reaffirmed as correct. It is denied
                                   that the Respondent has already vacated the property on 31
                                   December ·2019 or has also handed over the keys of the
                                   property to the Petitioner and does not have any movable
                                   property lying at the premises. It is denied that the Petitioner
                                   has itself terminated the lease with its landlord vide an email
                                   dated 14 January 2020,which could not have been possible
                                   without the Petitioner having possession of the premises. It is
                                   denied that the respondent has ever issued the letters dated 26
                                   February 2020 and 13 March 2020 to the Petitioner.

                                   It is to submit that on the one hand the Respondent alleges
                                   that the keys were sent by them on 17.03.2020 (though
                                   denied) and on the other hand Respondent seeks to contend
                                   that the Petitioner had keys to the property on 14.01.2020
                                   itself when the Petitioner, as per the Respondent, sought to
                                   terminate its lease.

                                   In reply to the same, the factual submissions made in reply
                                   to Para No.12 and 19 herein above may kindly be read as
                                   reply to the Paragraph under reply which are not repeated
                                   herein for the sake of brevity and to avoid repetition."


                            102.    Mr. Jeevan Ballav Panda did not, during his submissions,
                            choose to refute the contentions, of the petitioner, as extracted
                            hereinabove, and as contained in the petitioner and rejoinder. In my
                            opinion, these averments, if correct, do make out a case for securing
                            the amount, to which the petitioner claims to be entitled, so as to
                            ensure that the arbitral award, if ultimately passed in favour of the
                            petitioner, is not rendered a futility.


                            103.    At this juncture, I deem it appropriate, at the cost of repetition,
                            to emphasise that, in directing furnishing of security, this Court is not
                            adjudicating the entitlement, of the petitioner, to the amount directed
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                             to be secured, with any modicum of finality. Were any such attempt
                            to be made, this Court would be trespassing on the jurisdiction of the
                            arbitrator, to arbitrate on the dispute, which is clearly impermissible.
                            All that this Court is required to determine, while examining a prayer
                            relatable to Section 9(1)(ii)(b), is whether a case, for securing the
                            amount in dispute in the arbitration, is, or is not, made out. Once the
                            Court determines that the petitioner has an arguable case, and that the
                            interests of justice requires securing of the amount, so as to render the
                            award, if finally passed in favour of the petitioner, meaningful and
                            capable of enforcement, the Court is not only empowered, but is also
                            obligated, to secure the amount. The opinion of the Court, in such a
                            case, has to be understood as expressly limited to determining the
                            issue of whether the amount is required to be secured or not, in the
                            context of Section 9, and is not to be regarded as an expression of
                            opinion on merits, regarding the entitlement of the petitioner to the
                            said amount.            The Arbitral Tribunal would, therefore, proceed to
                            decide the petitioner's entitlement, uninfluenced by any observations,
                            in that regard, contained in this judgement.


                            104.        Mr. Jeevan Ballav Panda also placed reliance on General
                            Electronics International Inc.2 and Onida Finance Ltd v. Malini
                            Khanna12, to contend that this Court could not direct securing of
                            liquidated damages, prior to the trial of the entitlement of the
                            petitioner, in the arbitral proceedings. I am unable to agree with the
                            submission, which is not supported by either of the decisions cited by
                            Mr. Jeevan Ballav Panda. General Electronics International Inc.2

                            12   2002 (1) RCR (Rent) 546
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                             was a petition under Section 34 of the 1996 Act, after rendition of the
                            Award. Onida Finance Ltd12 does not deal with this issue at all.


                            105.    Similarly, the judgement, of this Court, in Associated Journal
                            Ltd5 has no relevance to the controversy in issue is, in that case, it was
                            specifically found that the termination of the lease was in accordance
                            with the covenants, in that regard, in the Lease Deed. In fact, para 15
                            of the judgement of the Division Bench significantly notes that the
                            right, of the respondent, to terminate the lease by three months' prior
                            notice was not contingent upon any default committed by the
                            appellant. In the present case, per contra, Article 9.1.2 of the MSA
                            empowered the respondent to terminate the MSA, during the lock in
                            period, only on specific defaults having been committed by the
                            petitioner. The consequences, of unjustified termination of the MSA
                            during the lock in period also stand specifically delineated therein.
                            The decision in Associated Journal Ltd5 what, if anything, therefore,
                            militates against, rather than support, the case sought to be canvassed
                            by Mr. Jeevan Ballav Panda.


                            Conclusion


                            106.     Resultantly, I am of the opinion that the prayer, of the
                            petitioner, for a direction, to the respondent, to secure the amount of
                            ₹2,23,50,000/-, is required to be allowed. That, in my view, would
                            sufficiently secure the petitioner's interest, and no further direction, to
                            the respondent, restraining transfer of its assets, or attaching its bank
                            account, needs to be passed.
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                             107.       Article 10.1 of the MSA provides for resolution of the dispute,
                            between the parties, by arbitration, and contemplates appointment of a
                            sole arbitrator, mutually, by the parties, in accordance with the
                            provisions of the 1996 Act. It further provides that, in default of any
                            party, to mutually appoint the sole arbitrator, within 15 days from the
                            date of invocation of the arbitration clause by the other, the sole
                            arbitrator would have to be appointed by this Court. Para 21 of the
                            petitioner specifically avers that, vide legal notice dated 6th February,
                            2020, the petitioner has invoked the aforesaid arbitration clause and
                            that, despite receipt, of the said legal notice, by the respondent, on 13 th
                            and 14th February, 2020, no reply was forthcoming. The subsequent
                            communications, from the respondent to the petitioner, do not make
                            any reference to the resolution of the disputes by arbitration. In view
                            thereof, there is clear default, on the part of the respondent, to
                            cooperate in mutual appointment of an arbitrator, agreeable to both
                            parties.

                            108. Section 11 (6) of the 1996 Act requires either of the parties to
                            approach this Court, in such circumstances, to appoint the arbitrator.
                            In order to ensure that no undue advantage, of the present order, is
                            taken, I deem it appropriate to subject to the interim protection,
                            granted by this order, to taking of further steps, by the petitioner,
                            towards appointment of the arbitrator.

                            109.    Resultantly, the present petition is allowed, in terms of prayer
                            (iii) thereof. The respondent is directed to deposit, with the Registrar
                            General of this Court, an amount of ₹ 2,23,50,000/-, by way of
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                             demand draft. The deposit would be retained in an interest-bearing
                            fixed deposit, and would remain subject to the outcome of the arbitral
                            proceedings. The petitioner is also directed, for this purpose, to take
                            further steps, towards appointment of the arbitrator, in accordance
                            with the provisions of the 1996 Act, within a period of 15 days, failing
                            which this order would cease to have effect, and the respondent would
                            be entitled to be returned the deposit of ₹ 2,23,50,000/-, along with
                            interest accrued thereon.

                            110. No orders are, in the circumstances, required to be passed on
                            the remaining prayers in the petition, which, accordingly, stand
                            disposed of.


                            111. There shall be no order as to costs.




                                                                         C. HARI SHANKAR, J.

NOVEMBER 03, 2020 kr/dsn Signature Not Verified Digitally Signed By:SUNIL SINGH NEGI O.M.P. (I) (COMM) 123/2020 Page 61 of 61 Signing Date:03.11.2020 20:00:56