2004 (9) TMI 646

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....USTICE D. H. WAGHELA, JJ. For Petitioner : MR RM DESAI Advocate For Respondent : MR PC KAVINA Advocate with MR PP BANAJI Advocate ORAL ORDER (Per : HON'BLE MR.JUSTICE R.K.ABICHANDANI for the Court) 1. The appellant-Official Liquidator challenges the order of the learned Single Judge made in Company Application No.184 of 2002 on 3.7.2003 directing the Official Liquidator, on receiving th....

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....refore, the Official Liquidator was entitled to retain the possession of the premises because the leasehold right of the company was a valuable asset. The learned counsel drew our attention to the agreement to lease, a copy of which was annexed at Ex.A to the Company Petition, in which the period of lease was mentioned as "a term for 60 years commencing from the date on which the said premise....

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....e." 4. There is no dispute about the fact that no registered deed of lease was executed between the parties. The learned Single Judge has, while considering the contention that the premises were given for 60 years, rightly held that under Section 107 of the Transfer of Property Act, 1882, a lease of immoveable property for any term exceeding one year could be made only by a registered instr....