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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Lease Vesting Decision: Respondent Misses 14-Day Deadline, Loses Interest in Property; Lease May Vest Elsewhere.</h1> The National Company Law Tribunal (NCLT) issued an order concerning a lease vesting matter. The respondent was required to decide within 14 days whether to apply for a vesting order of a disclaimed property lease. Failure to do so would exclude the respondent from any interest or security in the premises. The order was served, and the respondent did not apply within the specified timeframe. Consequently, the NCLT ordered that the respondent be excluded from any interest in the property, and the lease could vest in another party, subject to the original lease's liabilities and obligations.
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