towards future assignment fee and also a sum of Rs.18,03,500/- on 22.01.2009 towards security deposit to the respondents even prior to the execution of Lease Deed. After taking over the Salt Factory, the petitioner had invested Rs.2.5 crores on the said land. The said land for the Salt manufacture was handed over to the petitioner only on 11.12.2009. As per the letter of the second respondent dated 17.11.2008, the annual Assignment Fee is about Rs.18,03,500/- per annum. However, during the calender years from 2009 to 2012, the petitioner had remitted a sum of Rs.18,03,500/- as Security Deposit and a sum of Rs.59,76,100/- as Annual Assignment Fee. Surprisingly, the second respondent, by his letter dated 26.02.2012, stated that there is an outstanding amount of Rs.26,08,677/- from the petitioner. According to the petitioner, he did not commit any default in the payment, except on some years by which the salt manufacturing was heavily affected due to cyclones. In the meanwhile, on 07.02.2013, the third respondent issued a letter stating that the lease was determined on 07.02.2013 and possession would be taken on 20.03.2013. Immediately, the petitioner invoked the arbitration Clause 23 of the Lease Agreement and sent a letter to the second respondent.
