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Transfer fee demand on leasehold land transfer by statutory corporation challenged; petition dismissed for fact suppression and inapplicable IBC Secti...
A writ petition challenging a statutory corporation's demand for...
Transfer fee demand on leasehold land transfer by statutory corporation challenged; petition dismissed for fact suppression and inapplicable IBC Section 31.
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A writ petition challenging a statutory corporation's demand for transfer fee on leasehold land was held non-maintainable because the petitioner invoked Article 226 by wilful suppression and misrepresentation of material facts, including selectively quoting the insolvency appellate order to portray recorded submissions as judicial observations; on this ground alone, discretionary relief was denied and the petition failed. On merits, the court found the transaction involved transfer of leasehold interest (not merely a change in shareholding), making precedents inapplicable, and rejected the "clean slate" plea under Section 31 IBC because the approved resolution plan did not extinguish the transfer-fee claim and the insolvency fora had expressly left it open to be pursued before the competent authority; the challenge was dismissed. - HC
A writ petition challenging a statutory corporation's demand for transfer fee on leasehold land was held non-maintainable because the petitioner invoked Article 226 by wilful suppression and misrepresentation of material facts, including selectively quoting the insolvency appellate order to portray recorded submissions as judicial observations; on this ground alone, discretionary relief was denied and the petition failed. On merits, the court found the transaction involved transfer of leasehold interest (not merely a change in shareholding), making precedents inapplicable, and rejected the "clean slate" plea under Section 31 IBC because the approved resolution plan did not extinguish the transfer-fee claim and the insolvency fora had expressly left it open to be pursued before the competent authority; the challenge was dismissed. - HC
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