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Yash Rungta (Proprietor)     21 February 2012

Purchase of agricultural land by an indian company


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??


 5 Replies

Bharatkumar (ADVOCATE )     21 February 2012

No, the Pravite Limited Company is not purchase the agriculture land in India without State Government Permission.

1 Like

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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