https://www.taxtmi.com/caselaws?id=308977 A corporate debtor's claim to leasehold rights failed where it had not secured execution and registration of the lease deed within the stipulated period and had not cleared dues required by the lessor. On that basis, the lessor could lawfully transfer the leasehold rights directly to another allottee after payment of dues and execution of a revised lease deed. The transfer was also not treated as preferential, fraudulent or undervalued under the Insolvency and Bankruptcy Code because the new allottee's rights arose independently from the lessor, with no material showing collusion, intent to defraud creditors, or use of the corporate debtor's assets to confer an avoidable benefit. en-us Tue, 21 Mar 2023 00:00:00 +0530 Thu, 03 Aug 2023 21:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308977 A corporate debtor's claim to leasehold rights failed where it had not secured execution and registration of the lease deed within the stipulated period and had not cleared dues required by the lessor. On that basis, the lessor could lawfully transfer the leasehold rights directly to another allottee after payment of dues and execution of a revised lease deed. The transfer was also not treated as preferential, fraudulent or undervalued under the Insolvency and Bankruptcy Code because the new allottee's rights arose independently from the lessor, with no material showing collusion, intent to defraud creditors, or use of the corporate debtor's assets to confer an avoidable benefit. Case-Laws Insolvency and Bankruptcy Tue, 21 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308977