https://www.taxtmi.com/highlights?id=103938 Lease-deed mortgage provisions limited to the lessor's share in unearned increase, contingent on a mortgage sale or foreclosure, do not create a present general charge over all outstanding dues. A statutory power to recover arrears as land revenue is a recovery mechanism, not a consensual security interest. The 2026 Explanation excluding interests arising merely by operation of law is treated as clarificatory and retrospective. Accordingly, development authorities' dues lacking an express unconditional charge are classified as unsecured statutory or operational dues rather than secured debt under the resolution-plan distribution framework. en-us Sat, 19 Sep 2026 08:20:50 +0530 Sat, 19 Sep 2026 08:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=103938 Lease-deed mortgage provisions limited to the lessor's share in unearned increase, contingent on a mortgage sale or foreclosure, do not create a present general charge over all outstanding dues. A statutory power to recover arrears as land revenue is a recovery mechanism, not a consensual security interest. The 2026 Explanation excluding interests arising merely by operation of law is treated as clarificatory and retrospective. Accordingly, development authorities' dues lacking an express unconditional charge are classified as unsecured statutory or operational dues rather than secured debt under the resolution-plan distribution framework. Highlights IBC Sat, 19 Sep 2026 08:20:50 +0530 https://www.taxtmi.com/highlights?id=103938