https://www.taxtmi.com/caselaws?id=758849 A cancelled leasehold plot could not be treated as an asset of the corporate debtor for inclusion in the resolution plan because the lease had ended before commencement of CIRP. The corporate debtor failed to show restoration of the lease, post-cancellation payment of rent or instalments, or any express or implied assent by the lessor to continued possession. Mere physical possession and a later request for restoration were insufficient to revive the cancelled lease or establish holding over under section 116 of the Transfer of Property Act, 1882. On those facts, the statutory conditions for tenancy by holding over were not satisfied, and the plot was rightly excluded from the insolvency estate. en-us Wed, 18 Sep 2024 00:00:00 +0530 Wed, 18 Sep 2024 18:41:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758849 A cancelled leasehold plot could not be treated as an asset of the corporate debtor for inclusion in the resolution plan because the lease had ended before commencement of CIRP. The corporate debtor failed to show restoration of the lease, post-cancellation payment of rent or instalments, or any express or implied assent by the lessor to continued possession. Mere physical possession and a later request for restoration were insufficient to revive the cancelled lease or establish holding over under section 116 of the Transfer of Property Act, 1882. On those facts, the statutory conditions for tenancy by holding over were not satisfied, and the plot was rightly excluded from the insolvency estate. Case-Laws IBC Wed, 18 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758849