prabha mangale (advocate) 19 July 2012

Can company purchase agricultural land

Respected members

under which provisions a company can buy agricultural land for agricultural purpose in maharashtra ? what is the ceiling limit for it? please reply urgently

PRABHA

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3 Replies

Vigneswaran (Lawyer) 13 August 2012

Yes the company can buy the land for agricultural purpose since the company is a seperate legal enitiy, having a perpetual sucession. provided the company is wholly owned by an indian shareholders. Since FDI is not allowed in agriculture a foregin comany cannot do the same.

SACHIN AGARWAL (ADVOCATE) 13 August 2012

Yes. The Company is a seperate legal enitiy having a perpetual sucession, therefore it may purchase the agricultural land. But the foreign Companies are not allowed for the same.