'LESE' which so many dictionaries describe as 'to lose'
Is this a new word , or did I just not come across it before?

WELCOME Anshul!

It's not a new word ...

\Lese\ (l[=e]z), v. t. To lose. [Obs.] --Chaucer.
Source: Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc.

The Macquarie (Australian) dictionary only has the following:

lese-majesty
// noun Law 1. any of various crimes or offences against the sovereign power in a state. 2. (humorous) any presumptuous conduct. [French, from Latin: injured sovereignty]

It's obviously not a commonly used word though - my Microsoft spellchecker doesn't like it.

Hev