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.