Can private limited company but agricultural land?
Gaurav Agarwal
(Querist) 15 September 2010
This query is : Resolved
Can private limited company but agricultural land? If so, kindly cite an example.
Vinod Kumar Arora
(Expert) 16 September 2010
I suppose, you wanted to mention buy and not but. A private limited company can definitely buy agricultural land if its memorandum of association contains such clause as an object either directly or indirectly.
B.R. BHALLA, ADVOCATE
(Expert) 16 September 2010
If it is part of the main objects of the Company to buy, maintain, engage itself in the produce of agriculture, it can buy the agricultural lands. But there are certain States which allow the purchase of Agriculture lands, provided you are Agriculturist of that State. Subject to certain restrictions from different States, the Company not only can buy but also engage itself in the cultivation of agriculture lands.
Gaurav Agarwal
(Querist) 16 September 2010
Thanks for all the replies.
Can you please provide sample MOA for such company, also please name few companies? Can such company latter apply for conversion of such land to Non-Agriculture land and do real- estate or other activities on such land?
Gaurav Agarwal
(Querist) 17 September 2010
Can you please provide sample MOA for such company, also please name few companies? Can such company latter apply for conversion of such land to Non-Agriculture land and do real- estate or other activities on such land?
GIRISH SULE
(Expert) 19 September 2010
Co Can purchase .
