Extension of period limited by lease.

(1) If a tenant in possession of any building held on lease for a specified period intends to extend the period limited by such lease, he may give the landlord at least one month before expiry of the period limited by the lease, a written notice of his intention to do so, and upon the delivery of such notice, the landlord may renew the lease on the terms mutually agreed upon. (2) If the tenant fails to vacate the building on the termination of lease or as the case may be, on the expiry of the period renewed under sub-section (1), the Controller shall on an application by the landlord pass an order for eviction, which shall be executed as such and may further order that the tenant shall pay to the landlord such amount as may be determined by it as daily compensation.