Auction of structure erected on lease land

Dushyant Pandya (Querist) 23 May 2013 This query is : Resolved
Land allotted on lease and accordingly structure was erected. Now, after expiry as per renewal clause lease required to be renewed, but through auction. As per renewal clause first right of refusal lying with existing lessee, who has erected structure on lease land.

Is existing owner required to bid in auction for claiming first right of refusal?

Please advise.

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ajay sethi (Expert) 23 May 2013
yes existing lessee will hvae to bid in auction . as per terms mentioned by you renewal of lease is by auction . you will have to match the highest bidder . however it is necessary to go through the lease agreement to advise further

Guest (Expert) 23 May 2013
If first right devolves on the lessee, the intention to retain the structure by the lessee can only be known if he takes an active part in the auction. If he does not place any bid, that would mean he prefers to forgo his right.

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