Yash Rungta (Proprietor) 21 February 2012
Hi,
If Foreign Nationals cannot purchase agriultural land in India, can a pvt ltd company with 2 Foreign Directors(and no other directors) purchase agricultural land? Or is this concept subject to lifting of corporate veil or something similar and the law takes into account the real beneficiaries??
Bharatkumar (ADVOCATE ) 21 February 2012
No, the Pravite Limited Company is not purchase the agriculture land in India without State Government Permission.
Yash Rungta (Proprietor) 21 February 2012
Thanks! But is that permission also required if there are no Foreign Directors or if there are Foreign as well as Indian Directors?
Bharatkumar (ADVOCATE ) 21 February 2012
Private Limited Company is not purchase the Agriculture land without gov. permission, if the directors are foreigner it's problem.
Yash Rungta (Proprietor) 21 February 2012
Yes but what if there are only Indian directors? And what if the pvt ltd co has 2 foreign directors and 1 indian director?
Sayan Majumdar 08 March 2021
What is the source of this provision? Is there an inherent restriction in FEMA?
Appreciate if the provision or source could be shared.
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