https://www.taxtmi.com/caselaws?id=760083 A plot whose lease was validly cancelled before commencement of insolvency proceedings cannot be treated as an asset of the corporate debtor or brought within the resolution plan, because moratorium protection does not extend to property no longer forming part of the debtor's estate. Mere possession, holding over, or a belated restoration request does not revive a cancelled lease unless restoration or continuation is established in accordance with law. The resolution professional was also found to have acted without sufficient circumspection by projecting the cancelled plot in the information memorandum and CIRP process, so the adverse observations on his conduct were upheld. en-us Wed, 01 May 2024 00:00:00 +0530 Tue, 15 Oct 2024 14:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760083 A plot whose lease was validly cancelled before commencement of insolvency proceedings cannot be treated as an asset of the corporate debtor or brought within the resolution plan, because moratorium protection does not extend to property no longer forming part of the debtor's estate. Mere possession, holding over, or a belated restoration request does not revive a cancelled lease unless restoration or continuation is established in accordance with law. The resolution professional was also found to have acted without sufficient circumspection by projecting the cancelled plot in the information memorandum and CIRP process, so the adverse observations on his conduct were upheld. Case-Laws IBC Wed, 01 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760083