JUDGMENT - S.M. JHUNJHUNUWALA, J.:---By this suit, the plaintiffs, who are described as petitioners in the suit, seek to file the arbitration agreement under section 20 of The Arbitration Act, 1940 (for short, 'the Act') in this Court as also an order of reference of plaintiffs' claim against the defendants to arbitration in accordance therewith.

2. Though short but an interesting question of law arises for consideration in the present proceedings. The circumstances giving rise to the present proceedings in which the question of law arises are these :

3. By a Deed of Lease dated 3rd September, 1984 entered into between the plaintiffs on the one hand and the President of India on behalf of Bombay Telephones on the other hand, the plaintiffs granted lease of the premises mentioned therein to Bombay Telephones for the purpose of housing telephone offices for the consideration therein mentioned. The lease was for a period of 3 years from 8th August, 1983 and it was agreed by and between the parties thereto that after expiry of the period of 3 years, the same would be renewed for a further period of 3 years if so desired by the Bombay Telephones, the lessees, on the same terms and conditi

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