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prabha mangale (advocate)     19 July 2012

Can company purchase agricultural land

Respected members

under which provisions  a company can buy agricultural land for agricultural purpose in maharashtra ? what is the ceiling limit for it? please reply urgently

 

PRABHA



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 3 Replies

Vigneswaran

Vigneswaran (Lawyer)     13 August 2012

Yes the company can buy the land for agricultural purpose since the company is a seperate legal enitiy, having a perpetual sucession. provided the company is wholly owned by an indian shareholders. Since FDI is not allowed in agriculture a foregin comany cannot do the same.

SACHIN AGARWAL

SACHIN AGARWAL (ADVOCATE)     13 August 2012

Yes. The Company is a seperate legal enitiy having a perpetual sucession, therefore it may purchase the agricultural land. But the foreign Companies are not allowed for the same.


prabha mangale

prabha mangale (advocate)     14 August 2012

thanks for reply sir.but I need clear cut provision for it as revenue officers need it

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