Judgement

DAS GUPTA, J. : The subject-matter of this litigation is a piece of land in the heart of the business centre of the city of Calcutta. This was part of a block of 52 cottahs of land taken on lease on January 21, 1950 from the Official Trustee, West Bengal, by a private limited company, Raghuvanshi Private Ltd. The lease was a building lease for a period of 75 years commencing from January 21, 1950. The lessee was required to complete the construction of a three or four storeyed building on the land within 10 years. In September 1950, Raghuvanshi Private Limited in its turn leased 101 cottahs out of the 52 cottahs to a public limited company, Land and Bricks Ltd. This lease by Raghuvanshi Private Ltd., (hereinafter referred to as "Raghuvanshi") in favour of Land and Bricks Ltd., (hereinafter referred to as "Land and Bricks") created a monthly tenancy commencing from the 1st October 1950. Land and Bricks in this turn sub-let the entire 10 1/2 cottahs to the present appellant, Rupchand Gupta in his business name of Hind Airways. The lease was on the terms as settled by the two letters dated August 19, 1950 and September 5, 1950 between Hind Airways and Land and Bricks. By the