Special provisions relating to leases for commercial or industrial purposes

(1) Notwithstanding anything contained in this Act, or in any other law, or in any contract, or order or decree of court, where, on any land leased for commercial or industrial purpose, the lessee has constructed buildings for such commercial or industrial purpose before the 18th December, 1957, he shall not be liable to be evicted from such land, but shall be liable to pay rent under the contract of tenancy. Such rent shall be liable to be varied every twelve years on the motion of the lessor or the lessee, in such manner as may be prescribed. (2) If, between the 18th December, 1957 and the date of commencement of this Act, any decree or order of court has been executed and any person dispossessed by delivery, such person shall, on application before the Land Tribunal, be entitled to restoration of possession: Provided that, before restoration, such person shall be liable to pay— (i) the compensation paid by the landlord for any improvements in the land and subsisting at the time of restoration; (ii) the compensation for any improvements effected subsequent to the delivery: Provided further that he shall not be entitled to restoration if the property has passed on to the possession of a bona fide transferee for value.