property dispute

akash jain (Querist) 06 February 2009 This query is : Resolved
can a firm can register the sale of the property in which it is existing and the property is in name of joint individual owners ,out of which one is partner of the said firm.
property is not in the name of firm,it is in the name of ind,joint owners. one joint owner purchased the said property by withdrawing from his capital from the said firm.

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smilingadvocate (Expert) 06 February 2009
No. it cannot be sold but if the said individual has sold the property as managing partner of the firm it is valid even if it is purchased by the individual and another is if the firm is not the owner it cannot sell the prooperty.