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Issues:
1. Challenge to the order directing the Official Liquidator to hand over possession of demised premises. 2. Interpretation of lease agreement stipulating a 60-year period. 3. Requirement of a registered deed of lease under Section 107 of the Transfer of Property Act. 4. Legal implications of an unregistered lease agreement. 5. Application of legal precedents regarding compulsory registration of leases. Issue 1: The appellant-Official Liquidator contested the order directing the handover of demised premises, arguing that the lease agreement stipulated a 60-year period, entitling the company to retain possession as the leasehold right was a valuable asset. However, the Court noted that no registered deed of lease was executed, and the agreement's terms were not legally binding without registration. The Court upheld the order, emphasizing the need for a registered lease deed for leases exceeding one year under Section 107 of the Transfer of Property Act. Issue 2: The Court examined the lease agreement's clause requiring a deed of lease to be executed before possession, highlighting that no such deed was ever executed. The absence of a registered lease deed rendered the stipulated 60-year period in the agreement unenforceable. The Court cited legal precedents, including a Supreme Court decision and a Division Bench ruling, to support the rejection of the Official Liquidator's claim regarding the lease duration, treating it as a monthly tenancy due to the lack of registration. Issue 3: The judgment emphasized the legal requirement of a registered deed of lease for leases exceeding one year under Section 107 of the Transfer of Property Act. The Court clarified that in the absence of a registered lease deed, any stipulations in the agreement regarding the lease duration were unenforceable, leading to the dismissal of the Official Liquidator's challenge to the possession handover order. Issue 4: The Court reiterated that a lease is void if unregistered when registration is compulsory under Section 107 of the Transfer of Property Act. Citing a Privy Council decision, the Court emphasized that leases must be made through a registered instrument when registration is mandatory, failing which the lease is considered void. This legal principle was pivotal in rejecting the Official Liquidator's reliance on the unregistered agreement's terms regarding the lease duration. Issue 5: The judgment applied legal precedents, including decisions by the Supreme Court and the High Court, to establish the legal consequences of failing to register a lease when registration is mandatory under the law. By referencing relevant case law, the Court justified its decision to treat the unregistered lease agreement as void and uphold the lower court's order, dismissing the Official Liquidator's challenge.
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