Partition deed/sale deed

legal manager

Dear Experts,

Pls. advise on the following matter:

Our company is a Public Ltd. co. having its branch office in maharashtra. The co. deals in real estate.

The co. has one agricultural land in its name. The 2 directors of the company are also shareholders of the co. having 25% stake. Now the 2 directors want to seperate by way of Partition Deed/Sale Deed.

My question is:

What is the safest way : a partition deed or sale deed? from the legal point of view

What is the difference between the partition deed & sale Deed?

Is it necessary to obtain court permission by the public ltd. co. for partition deed or sale deed? Or      

A special resolution is sufficient?

Pls. help me to sort out the things.

I had read the Co.'s act in respect of the matters, but I had not found the provision.                                                                                                                                                                                                                                                             

 
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ADVOCATE & LEGAL CONSULTANT

If your company is PVT Ltd., Company , Directors Board Meeting meeting minutes and Resolution is must for permission for sale of any other changes, if the property bought on behalf of Company person who authorised for sale dealings will execute Sale Deed in favour the proposed buyer. 

 
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Yes, Mr. Jaykumar has  advised correct and agree with his openion

 
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legal manager

Dear Experts,

Thanks for the immediate reply.

Our company is a Public Ltd. Co.

Pls. advise whether Partition Deed is  safe or sale deed is safest way ?

Also pls. explain the difference between Partition Deed & Sale Deed?

Regards

Pashyanti

 
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