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BHAVNA SANJAY RUIA (Advocate)     09 June 2023

Can the property purchased by company in the name of its director be taken back by the company?

can the property purchased by the company in the name of director be taken back by the company without the payment of stamp duty, if yes what will be the procedure for the same. The Company being the confirming party, and director being the purchaser  as per the purchase agreement and all the payment for acquiring the land had been made through the company account. Pls suggest.


 1 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     09 June 2023

If the company purchases the property in the name of a Director, then the director may not give back to the company as he is the sole owner of the property.

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