JUDGMENT

Sanjeev Sachdeva, J. (Oral)--Appellant impugns the order dated 22.11.2021 whereby the Commercial Court has decreed the suit for recovery filed by the respondent seeking a recovery of sum of Rs.9 lacs along with interest @ 36% per annum.

2. Respondent is engaged in the business of providing cash management services at various locations throughout the country. It had taken on rent premises bearing no. 31, Ground Floor, F.I.E., Patparganj, Delhi from the appellant on monthly rental @ of Rs.1,50,000/- vide lease agreement 10.09.2015 for a period of nine years. Respondent had furnished a security deposit equivalent to six months' rent i.e. Rs.9 lacs, refundable at the time of vacation of the premises.

3. The lease further stipulated that respondent would be entitled to terminate the lease by giving a two months' notice in writing.

4. Respondent exercised his rights to terminate the lease and gave a three months' notice dated 09.03.2016 proposing to hand over the premises on 30.05.2016 and sought refund of the security deposit of Rs.9 lacs.

5. The premises were vacated on 30.05.2016. However, the security deposit was not refunded.

6. Since the appellant failed to refund the