The question of extension of lease deed already executed in favour of the CD cannot be a part of the approval order. The resolution applicant has to take appropriate legal courses for getting it extended before the period would expire from the appropriate authority as per law – Kamalesh Kumar Singhania, Resolution Professional – NCLT Guwahati
July 4, 2020
NCLT held that since the approved plan being binding on the CD, and its employees members, creditors including the Central government, any state Government, or any local authority, to whom the debt in respect of payment of dues arising under any law for the time being in force, such as authorities to whom statutory dues are owed, guarantors and other stakeholders involved in the resolution plan u/s/31(1) of the Code, granting the waiver as prayed for doesn't arise for consideration. The resolution applicant who appears in person also sought permission to submit that the prayer for extension of land lease asked for in the resolution plan is to be allowed. The question of extension of lease deed already executed in favour of the CD cannot be a part of the approval order. The resolution applicant has to take appropriate legal courses for getting it extended before the period would expire from the appropriate authority as per law.