Authority: Supreme Court of India
Order Date: 21‑08‑2026
Case Overview
- Petitioners: Indian Oil Corporation Ltd (IOCL) & others; Respondents: K. Rabiakutty & others.
- The matter arose from a final judgment of the High Court of Kerala (WA No. 708/2025) dated 04‑08‑2025.
- Two Special Leave Petitions (SLP(C) No.32897/2025 and SLP(C) No.34434/2025) were listed for admission on 21‑08‑2026.
- Settlement deeds were executed on 16‑Jun‑2026 and 17‑Jun‑2026 through the District Legal Services Authority, Kozhikode.
Settlement Terms – SLP(C) No.32897/2025
- Respondents agree to renew the existing lease for an additional fifteen years from the expiry of the previous lease.
- Enhanced rent fixed at Rs 1,20,000 per month, effective from 31‑Jan‑2018.
- Parties have already entered into a fresh lease agreement reflecting these terms.
Settlement Terms – SLP(C) No.34434/2025
1. A new 28‑year lease will run from 01‑Apr‑2018 to 31‑Mar‑2046 at Rs 1,20,000 per month, with a 10 % rent increase every three years.
2. IOCL shall pay all rent arrears from 31‑Mar‑2018 up to registration as a lump‑sum amount.
3. IOCL will bear registration charges, stamp duty and applicable GST, subject to submission of valid GST invoices by respondents.
4. The Letter of Intent (LOI) holder of IOCL will undertake land development and construction as per the LOI terms.
5. Respondents will bear land revenue and property tax; IOCL will bear building tax and municipal tax from the date of registration of the fresh lease deed.
6. Respondents must obtain all statutory approvals, including land conversion, prior to registration.
7. Dealership rights will be granted to respondents as per the LOI.
Final Outcome
- The Supreme Court recorded appreciation for the parties and the District Legal Services Authority for reaching a settlement.
- Both Special Leave Petitions are disposed of as settled in accordance with the above terms.
Topics: Lease Settlement, Oil & Gas, Real Estate