https://www.taxtmi.com/caselaws?id=106815 A rehabilitation-cum-amalgamation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985 did not displace a lessor's contractual right under a perpetual lease deed to recover unearned increase on transfer. Section 32 gives overriding effect only against inconsistent laws or instruments having statutory force; it does not override contractual obligations in a lease deed. Because the lessor was not a party to the BIFR proceedings and the leased land remained the lessor's property, the scheme could not extinguish the contractual recovery right or transfer ownership to the transferee-company. en-us Fri, 05 Oct 2001 00:00:00 +0530 Thu, 15 Mar 2012 17:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106815 A rehabilitation-cum-amalgamation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985 did not displace a lessor's contractual right under a perpetual lease deed to recover unearned increase on transfer. Section 32 gives overriding effect only against inconsistent laws or instruments having statutory force; it does not override contractual obligations in a lease deed. Because the lessor was not a party to the BIFR proceedings and the leased land remained the lessor's property, the scheme could not extinguish the contractual recovery right or transfer ownership to the transferee-company. Case-Laws Companies Law Fri, 05 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106815