1. The petitioners are trustees of Jagannath Roy Family Benefit Trust and the petitioner I is the Managing Trustee of the said Trust.

2. On or about July 16, 1935 a deed of lease for a period of 61 years in respect of a premises No. 2/2/1B, Chittaranjan Avenue, Calcutta subsequently renumbered as No. 135A, Chittaranjan Avenue, Calcutta was executed by and between S.C. Mitra, the lessor and Babulal Chaukhani, the lessee. The said lease is due to expire on Aug. 10, 1995 without any right of option for renewal of the said lease.

3. The lessor in the said lease S.C. Mitra transferred the said demised property to Jagannath Roy by a registered deed of sale on Apr. 26, 1939. By reason of such transfer, all right, title and interest in the said demised property stood transferred to and vested in the transferee the said Jagannath Roy. The name of the transferee was duly mutated in place of the transferor in the records of the Corporation of Calcutta. Thus the said lessee Babulal Chaukhani became the lessee under the said Jagannath Roy.

4. The said Jagannath Roy created a trust named "Jagannath Roy Family Deferred Benefit Trust" in which the heirs of the settlors were made beneficiaries, and th