Supreme Court Dismisses Appeal in Lease Renewal Case Due to Failure to Exercise Option Within Stipulated Time. Time Held to Be Essence of Contract in Option for Renewal of Lease; Equity Does Not Relieve Tenant from Own Neglect Absent Special Circumstances....
The dispute arose from a lease of land in Calcutta where the appellant, Caltex (India) Ltd., held a ten-year lease from the respondent, Bhagwan Devi Marodia, with an option for renewal. The lease date...




