Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

VISHAL AGARWAL (DIRECTOR)     05 February 2019

Registration of property and execution of sale certificate in the name of sucessful bidder of auction bank prperty under sarfaesi

we had participated in auction of non agri -culture land held by central bank of india and declared as successful bidder . now the bank is saying since our firm is a pvt ltd company registered under companies act 1956 it cant purchase property in the state of sikkim


Learning

 2 Replies

VISHAL AGARWAL (DIRECTOR)     05 February 2019

Originally posted by : VISHAL AGARWAL
we had participated in auction of non agri -culture land held by central bank of india and declared as successful bidder .
now the bank is saying since our firm is a pvt ltd company registered under companies act 1956 it cant purchase property in the state of sikkim

we had participated in auction of non agri -culture land held by central bank of india and declared as successful bidder . now the bank is saying since our firm is a pvt ltd company registered under companies act 1956 it cant purchase property in the state of sikkim

following queries need to be addressed:-

1) can a non sikkim resident even if indian cannot purchase auctioned property under sarfaesi even when the auction property was freehold , non agriculture and less than 25000 sq feet in area and belonged to a company registered under sikkimcompanies act

2)what are the procedures to get the sale certificate issue and executed  if a pvt ltd company is declared highest bidder under auction of property under sarfaesi of the same property

my no 9233419320 pls if some one can guide

Suri.Sravan Kumar (senior)     05 February 2019

Article 371F of the Constitution of India, which grants special provisions to Sikkim, prohibits sale and purchase of land or property involving outsiders.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register