Can a company buy agricultural land
abhijit majumder
(Querist) 24 December 2020
This query is : Resolved
To all Professional colleagues
Can a Company Incorporated in India under Companies Act,2013 whose main object is to deal with agricultural products , buy an agricultural land in India(West Bengal)?
Regards
Abhijit Majumder
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Isaac Gabriel
(Expert) 24 December 2020
If the articles of association prescribes for such activitu, there may not be any bar.
kavksatyanarayana
(Expert) 24 December 2020
Yes. If such a rule in the articles in the company bylaw, then the company can purchase the land.
Dr J C Vashista
(Expert) 25 December 2020
Dealing with agriculture products, as per Moa & AoA of the company do not cover to cultivate and produce the crop therefore, company can not buy land in the name of company.
It is better to consult and engage a local prudent lawyer for appreciation of facts/ documents, professional advise and necessary proceeding.
Rajendra K Goyal
(Expert) 26 December 2020
Can purchase only if permitted by MOA and AOA and also within local rules regarding agricultural land in particular state in which land is to be purchased.
abhijit majumder
(Querist) 28 December 2020
To
all the professional colleagues
Thanks for giving valuable opinion.
Regards
Abhijit Majumder
