In a significant ruling strengthening the Insolvency and Bankruptcy Code’s moratorium shield, the Gujarat High Court has held that Gujarat Industrial Development Corporation (GIDC) could not terminate a 99‑year lease or evict Gujarat Hydrocarbons and Power SEZ Limited during the corporate insolvency resolution process, dismissing GIDC’s Letters Patent Appeal against a Single Judge order that had set aside its eviction action.
A Division Bench of Chief Justice Sunita Agarwal and Justice D.N. Ray, while delivering the judgment on April 29, 2026, upheld the Single Judge’s view that GIDC’s 2021 lease termination and 2022…