Transfer of ownership of property under lease.
Utkal Automobiles has taken a land property from SAIL, Rourkela steel plant on lease agreement during the year 1960 on the agreed lease rent. No Lease deed was signed between the two during the initial period and still as on date no any lease deed agreement is signed between SAIL, RSP and Utkal Automobiles. In the meantime, Utkal Automobiles has transferred the property to Utkal Automotive P Ltd., a different identity and requested SAIL, Rourkela Steel Plant to transferred the lease of the property in favour of Utkal Automotive P Ltd.. SAIL, RSP is not agreeing to sign the lease agreement with Utkal Automotive P Ltd. and also not specifying the reasons behind it. For your information, in similar matters as above, SAIL, RSP has transferred leased property of Original Party to Second Party.
Understand there should not be any objection from SAIL, Rourkela Steel Plant (RSP) in transferring the Lease agreement from Utkal Aotomobiles Ltd., to the name of Utkal Automotive Pvt., Ltd., as no bipartite / tripartite Lease Deed has been signed in between SAIL, RSP and Utkal Automobiles Ltd., till date for Leased Out Property.
Request legal stand with regard to the transfer of lease property from Utkal Aotomobiles Ltd., to Utkal Automotive Pvt. Ltd., by SAIL, RSP.