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Discussion > Property Law > Others > Purchase of agricultural land by an indian company   Unanswered Threads Post New Topic

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There are 4 Replies to this message


Yash Rungta


Proprietor
[ Scorecard : 77]
PRO CHAT CALL
Posted On 21 February 2012 at 13:53 Report Abuse

Hi,

If Foreign Nationals cannot purchase agriultural land in India, can a pvt ltd company with 2 Foreign Directors(and no other directors) purchase agricultural land? Or is this concept subject to lifting of corporate veil or something similar and the law takes into account the real beneficiaries??



Bharatkumar


ADVOCATE
[ Scorecard : 2391]
PRO CHAT CALL
Posted On 21 February 2012 at 16:32

No, the Pravite Limited Company is not purchase the agriculture land in India without State Government Permission.



Total thanks : 1 times

Yash Rungta


Proprietor
[ Scorecard : 77]
PRO CHAT CALL
Posted On 21 February 2012 at 16:34

Thanks! But is that permission also required if there are no Foreign Directors or if there are Foreign as well as Indian Directors?


Bharatkumar


ADVOCATE
[ Scorecard : 2391]
PRO CHAT CALL
Posted On 21 February 2012 at 16:44

Private Limited Company is not purchase the Agriculture land without gov. permission,  if the directors are foreigner it's problem. 


Yash Rungta


Proprietor
[ Scorecard : 77]
PRO CHAT CALL
Posted On 21 February 2012 at 16:49

Yes but what if there are only Indian directors? And what if the pvt ltd co has 2 foreign directors and 1 indian director?





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