Section 41 in The Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012
41. Execution of Agreement.
(1)The selected bidder shall have to fulfill the pre conditions within the time period specified in the tender document or LOA before execution of the lease agreement.(2)The pre-condition referred to in the sub-regulation (1) shall be but not limited to the following, namely :-(a)payment of the specified amount of the lumpsum payment;(b)creation of a company as per the provisions of the Companies Act, 1956, if required;(c)submission of Performance Guarantee, etc.(3)All agreements made under these regulations shall be executed on behalf of the Authority by the Vice-Chairman or such officer as may be authorised by him in this behalf.(4)The selected developer shall execute an agreement in such form as may be specified by the Authority.
