1 With consent of the learned counsel, matter is taken up immediately for final hearing and disposal.

2 Respondent no.1 is admittedly the landlord in respect of the premises admeasuring about 10,000 sq.ft. in Madhav Mills Estate, Lamington Road, Bombay. The said premises were let out under a registered indenture of lease in favour of Caltex India Ltd. for running petrol pump. As per the terms of the contract, period of the lease was 20 years and the agreed annual rent was Rs.33,000/-. It was further covenanted that on expiry of 20 years, the tenant would have an option to get the lease renewed for a further period of 10 years for which rent would be Rs.36,000/- per annum. Before expiry of the said period of ten years, the tenant would also be entitled to exercise option for further renewal for a period of 10 years at the rent of Rs.39,660/- per annum. For both the renewals, option was to be exercised before the expiry of the term. It also specifically provided that option of renewal would be in aggregate for two terms each of 10 years. During the original term of lease, the said shares and assets and liabilities of the Caltex India Ltd. were acquired by the Central Governme