The primary issue is whether the amalgamation of companies and the resulting transfer of leasehold rights amount to a transfer under the lease deed, requiring payment of unearned increase value to Delhi Development Authority (DDA) – The Court reasoned that the amalgamation did result in a transfer as per the lease deed’s clauses and that the appellant is liable to pay the unearned increase – The appeal was dismissed, confirming DDA’s demand for unearned increase value, and the respondent-DDA was allowed to withdraw the deposited amount with interest.
SUPREME COURT OF INDIA DIVISION BENCH M/S. JAIPRAKASH INDUSTRIES LTD. (PRESENTLY KNOWN AS M/S. JAIPRAKASH ASSOCIATES LTD.) — Appellant Vs. DELHI DEVELOPMENT AUTHORITY — Respondent ( Before : Abhay S.…