Lease Rights Clarified: Post-CIRP Management by Appellant as per 2015 Lease Deed; No Extra Rights for Resolution Applicant.

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Full Text of the Document

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....Cancellation of lease granted earlier, after initiation of CIRP - After CIRP is over, it shall be open for the Appellant to deal with the lease land which was leased to the Corporate Debtor in accordance with its rights as envisaged by the Lease Deed dated 20.01.2015 - In event, the plot, in question, is included in the Resolution Plan, the Resolution Applicant shall not acquire any better right to the rights which were held by the Corporate Debtor in the lease land along with liabilities attached therein. After CIRP is over, there is no fetter in the rights of the Appellant to take appropriate action in accordance with law with regard to lease land. - AT....