Private company holding agricultural land in maharashtra
Rahul Lathi
(Querist) 29 January 2013
This query is : Resolved
i) Can a private company buy an agricultural land in maharashtra in view of restriction in S.63 of Bombay Tenancy and Agricultural Lands Act, 1948 and judgment of Gujrat HC in State vs. Prathamesh Farms Pvt. Ltd. dated 31.08.2010 ?
ii) If yes, is the ceiling limit applicable to a company ?
ajay sethi
(Expert) 29 January 2013
no pvt ltd company cnanot buy agricultural land in maharashtra
R.K Nanda
(Expert) 29 January 2013
no, it cannot buy.
Rahul Lathi
(Querist) 30 January 2013
Thank You Sir.
Just adding practical angle to the issue, if I may respectfully ask,
i) under what arrangement companies like Godrej and Jain Irrigation possess acres of agricultural land ?
ii) I have come across one arrangement where a private company has formed a partnership firm with one of its director shareholder in ratio of 99.99:0.01 profit sharing, bought land in name of the firm and put name of the director shareholder on the 7/12 extract as "Partner of XYZ firm". Collector has given permission and property is duly registered with the Sub-registrar. Is this legal ?
