The Maharashtra Land Revenue Code, 1966 (‘MLRC’) has been amended on August 22, 2016 with retrospective effect from August 15, 1967, i.e., the date on which the MLRC came into force. Pursuant to the amendment, all leases granted by the State Government or the Collector in respect of any land or foreshore vested in the State Government, which have been in existence on or before August 15, 1967 or were granted thereafter, will, notwithstanding the terms and conditions of such leases, be also subject to the following terms:i. the leasehold rights in such land may be further assigned or transferred only with the prior permission of the Collector on payment of such premium on account of unearned income and transfer fees; andii. in the event of contravention of the above condition, the lessee / transferor of such leasehold rights will be subject to pay penalty in addition to such premium and transfer fees at rates to be specified by the Government.