KHANWILKAR, J.

1. The question as referred by the Learned Single Judge of this Court for consideration of the larger Bench, is as follows:-

“Whether in view of the provision of Section 5 of the Arbitration and Conciliation Act, 1996, if any Agreement between Licensor and Licensee contains a clause for arbitration, the jurisdiction of the Small Causes Court under the Presidency Small Cause Courts Act, 1882 would be ousted?”

2. The background in which the matter has been placed before us to examine the above question can be briefly mentioned as follows:-

The Petitioners are lessees in respect of godown premises admeasuring 18,850 sq. meters being Shed TW-1 at Cotton Green Depot. The Mumbai Port Trust is the owner thereof who vide letter dated 26th February, 1975 gave the said premises on lease to the Petitioners. Sometime on or around 19th September 2002, the Respondents approached the Petitioners for storage facilities. By a Memorandum of Agreement dated 19th September 2002, the storage facility space was provided to the Respondents in an area of 2,411 sq.meters which was subsequently increased to 2,627 sq.meters on terms and conditions stated in the Agreement dated 19t