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15. The appellant-company claims that, by virtue of execution of the aforesaid lease deed, the requirement to raise construction within the original two-year period stipulated under the original lease deed was rendered otiose, as that timeframe had long since expired and was impliedly waived by UPSIDA.

16. In preparation for full operations, the appellant- company acquired an electric connection with requisite load, obtained an Import-Export Code for the premises, and registered itself with the provident fund and the sales tax authorities.