abhijit majumder (practicing company secretary) 04 April 2024

Gift of land

The Respected senior fellow experts

Sir,

Can an individual make a gift of land to a Corporate Entity(being a 100% State Govt owned undertaking)?

If so on what ground (ie the word "love & affection' is not possible in this case).

Regards

Abhijit

Reply Follow

8 Replies

kavksatyanarayana (subregistrar/supdt.(retired)) 04 April 2024

If an individual has having own property, he can gift it to anyone including the corporate entity.

T. Kalaiselvan, Advocate (Advocate) 04 April 2024

If the individual is having some reason to transfer the property to the government undertaking company, he can very well mention the same reason in the gift deed.

Mr. Sumitra kumar (Advocate) 05 April 2024

Section 123 of TP Act 1882 doesn't mention the word "Love and affection". If you are the owner of property, you can make gift of it to anyone you wish to.

Thank you.

abhijit majumder (practicing company secretary) 05 April 2024

Thank to all senior experts to clarify the issue

Regards

Abhijit

Shashi Dhara 05 April 2024

For public benifit you can gift it which is not love and affection.

T. Kalaiselvan, Advocate (Advocate) 06 April 2024

You are welcome for your appreciations.

Dr. J C Vashista (Advocate ) 10 April 2024

Yes, it can be gifted to corporate entity, but what is the purpose and aim behind donation to government owned company / corporate / undertaking ?

abhijit majumder (practicing company secretary) 12 April 2024

Thanks to Sir , Dr.J C Vashista to raise the point. I think this is a very pertinant question and the purpuse should clearly be documented in the gift Deed.

Again thanks to all senior exparts for sharing their views which enlighten me sufficiently.

Regards

Abhijit.