Purchase of land in name of director

Querist : Anonymous (Querist) 07 February 2019 This query is : Resolved
Can a pvt. Ltd. company purchase agriculture land in name of director in maharashtra

Follow Query

Report Abuse

kavksatyanarayana (Expert) 07 February 2019
A Private Ltd.Company may buy property in the name of company and on behalf of company one of the Director may represent the company. But if the property purchased in the name of a Director (in the name of individual), then it does not belong to company.

Querist : Anonymous (Querist) 08 February 2019
Thanks for information, is there any section to confirm this ,is it sec 49 of company act 1956/2013

P. Venu (Expert) 08 February 2019
What is the real issue?Material facts are missing.

Querist : Anonymous (Querist) 08 February 2019
One of my friend is director want to purchase agriculture land payment will be given by company but title to be registered in directors name whether it will be legally as per company act companies land

Querist : Anonymous (Querist) 08 February 2019
Or will it become benami

Querist : Anonymous (Querist) 08 February 2019
This transaction is in maharashtra

Querist : Anonymous (Querist) 08 February 2019
One of my friend is director want to purchase agriculture, land payment will be given by company but title to be registered in directors name whether it will be legally as per company act ,companies land,Or whether it will be benami land ,this land is in maharashtra

Dr J C Vashista (Expert) 09 February 2019
Director and Company are two different entities/ persons for purchase of land in the name of either of them.
Contact and consult a local prudent lawyer for better appreciation of facts, guidance and proceeding.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now