Orix Leasing & Financial Services … vs One 97 Communications Ltd & Anr. on 23 November, 2021

2. The brief facts, as noted from the petition are that the
petitioner entered into a Master Lease Agreement dated August 26,
2016 (‘the Agreement’, for short), for taking on lease a vehicle with
respondent No.1, being the lessee and respondent No.2, being the
co-lessee.

3. As per the terms of the Agreement, respondents agreed to
pay lease rent of ₹8,683/- along with service tax for the use of the
vehicle leased during the tenure of the Agreement, i.e. 24 months.
The Agreement also stipulated, as per Article 2.5, that the
respondents shall not be entitled to any claim of ownership of the
Signature Not Verified
Digitally Signed By:ANIL
KUMAR YADAV Arb.P. 637/2019 Page 1
Signing Date:23.11.2021
19:25:06
vehicle or challenge the petitioner’s ownership right, title or interest
in the leased vehicle during the subsistence of the agreement.

Source: Indian Kanoon

Leave a Reply

*