Change of land holding to associate (related party) company

This query is : Resolved 

Querist : Anonymous (Querist)
29 July 2019


we got allocation of land near Bangalore from KIABD. have paid 1st installament.
but now we want to share the land to our associate companies also based in bangalore (60% holded
by our parent company in USA).
whether we can change the name in the agreement to our associate company or can we share both the company name in Agreement (not yet signed).

Whether any thing mentioned specifically to this case in KIABD rule book or any case reference, please advise.

Dr J C VashistaOnline (Expert)
30 July 2019

Local rules/law apply in your case.
Consult a local prudent lawyer with relevant documents for proper analyses, guidance and proceeding.

Querist : Anonymous (Querist)
30 July 2019

Hi, check with property consultant

SHIRISH PAWAR, 7738990900Online (Expert)
30 July 2019

If you want sale / transfer / change the title of the land you have to seek authorities's permission.

Querist : Anonymous (Querist)
30 July 2019

Hi, whether there is any reference in handbook (KIADB)

Shailesh Kr. ShahOnline (Expert)
19 December 2019

In addition to the authority's permission and you have also required the permission of the RBI, due to foreign company transactions.

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