Gift deed by a company

how can a company,execute gift deed ?

what is the object of the company?

A gift is given to someone for which the consieration from that "someone" is love and affection.

Since a company is an artificial person, it cannot claim to get or give love and affection. Hence a company cannot give gifts and hence cannot execute a gift deed. The donee and donor need not be related to give gifts but they should have some interaction otherwise how can love and affection develop between them?

However, there are various status under which a property can be transferred by a company or to a company without monetary consideration. e.g. if it is a section 25 company then it can receive gifts/donations.

S Jadhav

A company has executed a gift deed in afavour of one of its directors in respect of an immoveable property acquired by it. The donee wants to avail personal loan from the Bank [Housing Loan] on the seurity of the property. Now, as per section 122 of the TP Act, a transaction of Gift is without consideration. The transaction is between two persons - the Donor & donee. "Person" can also mean and include a company. 

The objects clause or Articles of association of the company do not prohibit transfer by way of Gift.

The company can't execute sale deed.If it is done then it would be void transacation. there is no ther that AOA is what speak.

i don't agree with mr. shah, company can also gift its property to director, provided Article of Association permits it.

I agree with Mr. M. A. Khan. Section 122 of the Transfer of Property Act does not talk about love or affection, while defining a gift. It only says that such a transfer must be voluntary and without consideration. Therefore, in my opinion, we need not discuss the concepts of love and affection, to answer the query. Best wishes!