https://www.taxtmi.com/caselaws?id=751261 A lease covenant prohibiting transfer, assignment or parting with possession without prior written consent, and authorising recovery of unearned increase, was construed broadly to cover a court-sanctioned amalgamation. Because the sanctioned scheme expressly vested the leased plots and the transferor's rights in the transferee company without further act or deed, that vesting was treated as a transfer within the lease clause. Section 5 of the Transfer of Property Act, 1882 did not exclude liability, as the lease covenant was wider and the provision preserves laws dealing with company transfers. The result was that unearned increase remained payable under the lease terms. en-us Fri, 05 Apr 2024 00:00:00 +0530 Thu, 11 Apr 2024 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751261 A lease covenant prohibiting transfer, assignment or parting with possession without prior written consent, and authorising recovery of unearned increase, was construed broadly to cover a court-sanctioned amalgamation. Because the sanctioned scheme expressly vested the leased plots and the transferor's rights in the transferee company without further act or deed, that vesting was treated as a transfer within the lease clause. Section 5 of the Transfer of Property Act, 1882 did not exclude liability, as the lease covenant was wider and the provision preserves laws dealing with company transfers. The result was that unearned increase remained payable under the lease terms. Case-Laws Companies Law Fri, 05 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751261