RULING OF THE COURT
New Ocean Transport Company Limited and Lesk Investments Limited “the applicants” entered the property known as Plot No.194/VI/MN, “the suit premises” then registered in the Erstwhile owner, M.A. Bayusuf Limited through a 5 year 3 months lease. When it expired M.A. Bayusuf Limited granted them an extension of the lease for a further two years from 1st February, 2003. The two years extension came to an end by effluxion of time on 1st February, 2005. However the applicants continued to hold over. On 9th May 2007, the suit premises were sold, transferred and registered in the name of Anwar Mohamed Bayusuf Limited, ‘the respondent” by M.A. Bayusuf Limited. Subsequent thereto on 1st August 2007, the respondent issued to the applicants Notice of termination of tenancy pursuant to the provisions of the Landlord and Tenant (Shops, Hotels and catering Establishments) Act to take effect from 1st November, 2007. The applicants contested the notice and filed a reference as requ…