Clear admissions in a written statement can establish liability under a lease agreement, enforceable despite limitation defenses when supported by contract provisions for joint liability of directors.

JUDGMENT

Subramonium Prasad, J. The present Appeal has been filed under Section 13(1A), Commercial Courts Act, 2015 read with Section 131 of the Civil Procedure Code, 1908 against the order and part decree passed by the Ld. Single Judge in CS (OS) (COMM) 387/2019 and the order passed in the Review Petition No. 18/2020 in CS (OS) (COMM) 387/2019.

2. The facts leading up to the filing of this Appeal are that the Appellant No. 1/Skipper Properties/Appellant-lessor is a company registered under the Companies Act, 1956, which operates in the domain of constructing and developing commercial retail spaces/properties. The Appellant-lessor is the absolute owner of the premises in dispute.

3. The Appellant-lessor entered into a lease agreement with the respondent-lessee for the premises at No. 26, Ground Floor, Janak Cineplex located inside Plot No. 3, Community Center, Block-C, Janak Puri, New Delhi 110058, with a carpet area of 1100 sq ft. (hereinafter referred to as `the Premises') on 31.01.2015, for a period of 15 years with applicable rent at the rate of Rs.312 per square feet of super area (being 2000 square feet), with an increment of 10% per annum after 3 years. Clause 16 stipulates the rent commencement period as being the 121steither from the date the lessee is in receipt of the Completion Certificate issued by the DDA/MCD, or on the date of completion of the work order as stipulated in clauses 10 and 11, whichever date would be later.

4. Pursuant to the requirements of clauses 5 and 6, the Respondent-lessee deposited Rs.37,44,000/- in lieu of refundable and interest free security deposit, and Rs.74,88,000/- as advance rent for a period of 15 years, respectively. The combined total of these payments is Rs.1,12,32,000/-. The Respondent-lessee's payment of the aforestated amount is recorded in Clause 7, while Clause 15 states that the lessee is entitled to obtain a refund of the interest free and refundable security deposit at any time, subject to payment of three month's rent, or after having served a notice period of 3 months. The relevant clauses of the lease agreement are reproduced below for reference:

Clause 5. The Lease Rent shall begin after the 120 Days Rent Free Period from the date of receiving of completion certificate from DDA/MCD by the Lessor or Completion of Lessor's Scope of Work, which ever is later. As promised by Lessor the same will be done on or before 31 December 2015.

6. That the LESSEE has paid a REFUNDABLE & INTEREST FREE Security Deposit Rs.37,44,000/- (Rupees Thirty Seven Lacs Forty Four Thousand Only) vide cheque No. 880002 drawn on PNB Prashant Vihar Branch to the LESSOR, which is refundable on or before the time of vacating the premises and handing over the peaceful vacant possession of the Leased Premises.

That the LESSEE has also paid Advance Rent Rs.74,88,000/- (Rupees Seventy Four Lacs Eighty Eight Thousand Only) vide cheq N. 880001 drawn on PNB Prashant Vihar Branch, to the LESSOR which shall be adjusted in the first (15) Fifteen Months, after the 120 days Rent Free Period from the date of receiving of completion certificate from DDA/MCD by the Lessor or Completion of Lessor's Scope of Work whichever is later.

If the Lessor fails to refund the security deposit and advance rent on the date when Lessee will desire to vacate the Leased premises or as per clause 20, the Lessor will be entitled to remain in possessi