Land purchased after dic permission under btal 63ia
nageshwalame
(Querist) 25 April 2015
This query is : Resolved
My company has purchased land after obtaining permission of DIC (industries commissioner) of Maharashtra way back in 1994 & put in to bonafied use. The company's promoter is over 77 years & has no succession to operate the company. Can the land be sold in the open market without selling the company & if so what is required to be done
Hemant Agarwal
(Expert) 30 April 2015
1. Land purchase permission is obtained in the name of Co. from DIC. Hence Land sale NOC will have to be taken from DIC.
2. Land can be sold without selling Co., BUT only to farmers. Here DIC can also direct to surrender Land to state, since the purposes of land use is proposed to be
truncated.
Keep Smiling .... Hemant Agarwal
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nageshwalame
(Querist) 03 May 2015
Dear Shri Agarwalji
Thanks for your reply. In the case of the company i referred who purchased land after taking the DIC permission. The farmers ( owners 1) had sold the land under notoraised sathe khat to another farmer (owner 2) along with tabapavti 3-4 months before the DIC permission way back in 1994 when sathe khat was acceptable mode. These sathe khats do not mention change of use from the farming. This farmer (owner 2) then thought of using the land for horticulture activity & he thought of taking DIC permission in the name of a pvt ltd company floated by he along with another share holders. Then he applied for the DIC permission , after obtaining permission the company did the purchase in its name through sale deeds. The sale deeds were made between the (owners1) & the company with the consent of the owner 2. After these sale deeds the 7/12 removed the owner 1 from record & placed the name of the company in the owners column. The Taba was transferred to company. In case the DIC orders for return of land who will be the beneficiary of the returned land & what will happen to taba handed over to owner 2 if he is not the beneficiary in view of the taba hand over by owner 1 to owner 2
Hemant Agarwal
(Expert) 05 May 2015
1. Once the Title is Transferred (via Sale Deed) and Recorded on the Revenue records in the name of Co., at the directions of DIC, THEN "ALL" (whatsoever) rights /status of Owner 1 & 2, as individuals, become infructuous, for all lawful purposes.
2. Re-Read (this time more S-L-O-W-L-Y) my earlier reply (at point no. 2, above). The said acquired/surrendered land may be distributed to STATE's land-less people, whose records /applications keep piling up before the zonal collector. Here the status of Owner 1 & 2, as individuals, become infructuous, for all lawful purposes.
Keep Smiling .... Hemant Agarwal
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