( 1 ) M/s. K. Kishore (HUF) is the tenant in respect of Flat No. 29 (First floor), Regal Building, Connaught Place, New Delhi, measuring 2200 sq. yds. It, however, had the requisite permission from the landlord to sub-let these premises. M/s. Smarts Private Limited, likewise, is the tenant in the same Flat no. 29, Regal Building, First Floor, described as mezzanine and storage lofts. It also enjoys the right to sub-let the said premises. M/s. United Industrial bank Limited (hereinafter referred to as the 'uib') took on rent the aforesaid premises, by way of sub-letting, from both the tenants. In the first case, lease was executed for a period of 10 years and in the second case, licence agreement was executed for the same period, which was co-terminus with the first lease. UIB was subsequently taken over by the Allahabad Bank for which necessary notification was issued by the Government of India, Ministry of finance (Department of Economic Affairs ). Prior to this takeover, notification issuing moratorium of UIB was passed. This resulted in non-payment of rents to both M/s. K. Kishore (HUF) and M/s. Smarts Private Limited. They served notice of termination of lease/