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[Cites 0, Cited by 0] [Section 32] [Entire Act]

Union of India - Subsection

Section 32(1) in The Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012

(1)A lessee may be substituted by the Authority -
(a)in case of default by the lessee in making payments to its lenders in terms of financing agreement signed between them, by the party recommended by the lender; or
(b)in case of default by the lessee under the lease agreement, by bringing in another party to take over the rights and responsibilities of the lessee in terms of the lease agreement.