Supreme Court of India
Phatu Rochiram Mulchandani v. Karnataka Industrial Area Development Board & Ors.
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1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the opinion that the serving of cancellation notice simplicitor would not come within the mischief of this section as that by itself does not amount to H attachment, distress or execution etc.
Judgment, page 31
From the headnote
KARNATAKA INDUSTRIAL AREA DEVELOPMENT ACT, 1966: Lease-cum-sale agreement - Allotment of plots to company for setting up factory/industry - Industry not set up - Company in liquidation - Agreement terminated by Board - 0 Held: Right to purchase the plots m question after the expiry of the lease period could accrue in favour of the Company only on fulfilling the covenants stipulated in clause 2(P) - On Company's failure to do so, Lease Agreement gave right to the Board to determine lease and resume the land - It is, thus, in the nature of Lease-cum-Sale Agreement, which started with lease-and
Where later benches applied it
- 2019 Stressed Assets Stabilization Fund v. West Bengal Small Ind. Development Corporation Ltd. and Anr.
Of those, 1 relied on
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