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License expired

Land lease agreement for petrol pump was made for 30 years. 15 years has gone by and the license of the pump is expired now. Do the license owner need to make new agreement with the landowners? Or they can continue with the old agreement? As far as i know the years required for owning a license is 30 years. B category company. Help

( West Garo Hills, Meghalaya )

10 months ago

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A.
Dear Client,
If there is a case of a land lease agreement of a petrol pump where 15 years have elapsed and license is expired then the license holder has to again get the license renewed from the particular petroleum authority as the license period is generally for 30 years. Thus, the existing lease agreement could remain valid and formalize the renewed license as well as changes in the terms and conditions as necessary. It is better to make a new agreement, accordingly with the provision made under the Petroleum Act, 1934 & the directions received from the Ministry of Petroleum & Natural Gas. The licensee must follow certain conditions in order to run a petrol pump. It is advised to consult with an attorney who specializes in petroleum law because of the need to meet legal requirements and to make the necessary processes easier.

Hope you find this answer beneficial for resolving the dispute.
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