https://www.taxtmi.com/caselaws?id=791078 Leasehold lands and development rights held through subsidiary companies were treated as part of the insolvency resolution on the facts, because the group structure showed the corporate debtor as the real driving force behind the projects and the subsidiaries as formal holders only. The Court also found that the lessor could not insist on penal interest, penal charges or time-extension penalties after long inaction, although principal dues remained recoverable. The resolution plans were restored with recalculated principal dues, and the corporate veil was lifted for the limited purpose of treating the group companies as one economic concern in the resolution process while protecting the lessor's lawful rights. en-us Tue, 05 May 2026 00:00:00 +0530 Wed, 06 May 2026 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791078 Leasehold lands and development rights held through subsidiary companies were treated as part of the insolvency resolution on the facts, because the group structure showed the corporate debtor as the real driving force behind the projects and the subsidiaries as formal holders only. The Court also found that the lessor could not insist on penal interest, penal charges or time-extension penalties after long inaction, although principal dues remained recoverable. The resolution plans were restored with recalculated principal dues, and the corporate veil was lifted for the limited purpose of treating the group companies as one economic concern in the resolution process while protecting the lessor's lawful rights. Case-Laws IBC Tue, 05 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791078