https://www.taxtmi.com/caselaws?id=757709 Subsisting leasehold rights in tea gardens are treated as assets of the corporate debtor under insolvency law and may be taken into control by the resolution professional if they remain alive on the insolvency commencement date. Mere pendency of renewal applications does not create automatic or deemed renewal, and an expired lease cannot be treated as continuing without valid renewal. Renewals of the Kilcott, Garganda and Bagracote Division I tea estates were validly executed and registered, and non-payment of salami did not make them void or inoperative. Moratorium protection extends to subsisting leasehold rights, but not to gardens where no surviving leasehold interest remained. en-us Fri, 02 Aug 2024 00:00:00 +0530 Wed, 28 Aug 2024 10:41:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757709 Subsisting leasehold rights in tea gardens are treated as assets of the corporate debtor under insolvency law and may be taken into control by the resolution professional if they remain alive on the insolvency commencement date. Mere pendency of renewal applications does not create automatic or deemed renewal, and an expired lease cannot be treated as continuing without valid renewal. Renewals of the Kilcott, Garganda and Bagracote Division I tea estates were validly executed and registered, and non-payment of salami did not make them void or inoperative. Moratorium protection extends to subsisting leasehold rights, but not to gardens where no surviving leasehold interest remained. Case-Laws Insolvency and Bankruptcy Fri, 02 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757709