Jaya Pathak (Paralegal) 11 March 2024
MIDC plot has to be transferred from the original lease holder to the new party. One of the MIDC lawyer who is recommended from MIDC office to original lease holder is asking them to execute a Supplementary Agreement to Lease in the name of the new party.
Is Supplementary Agreement to Lease a correct document which original lease holder should execute because their personal lawyer does not agree to this?
Dr. J C Vashista (Advocate ) 11 March 2024
The lease deed has to be executed afresh in favour of "NEW" leasee,
However, there is no provision for execution of a supplimentary lease deed.
T. Kalaiselvan, Advocate (Advocate) 11 March 2024
A supplementary lease would be termed as sub lease which may not be permissible in law.
You can take a decision after approaching MIDC authorities directly.
Jaya Pathak (Paralegal) 12 March 2024
Originally posted by : T. Kalaiselvan, Advocate
A supplementary lease would be termed as sub lease which may not be permissible in law.You can take a decision after approaching MIDC authorities directly.
Thank you T. Kalaiselvan, Advocate sir,
The MIDC officials are insisting for a Supplementary Agreement to Lease. They even have a Notification for the same.
And I have a question does this Supplementary Agreement to Lease stand as a valid document to transfer rights especially considering Transfer of Property Act supersedes the The Maharashtra Industrial Development Act, 1961?
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