Dear Members: It would be great if you can clarify my Question, below are some details followed by my Question
1. the land I intend to buy is a KIADB plot
2. I am buying half of the land
3. The first owner (pvt limited company) had possesion certificate (1983), sale agreement (1984).
4. Due to financial issues the first owning company sold the land to second company, the second company was a BSE listed Limited company, last 2 years it is unlisted limited company
4.1 the Sale Deed-2 is thru Duely Constitued GPA
4.2 please note the date, the sale deed from first to second company was in 1995
4.3 please note KIADB had only given Sale agreement not Sale DEED so the first company sold it before sale deed
4.4. there were loans from KSFC, that is why KIADB did not give sale Deed
5. The First Company took money in 1995 from second company and cleared KSFC loans
5.1 got all Release Deeds (4 release deeds) from KSFC in 1996
5.2 got NOC from KSFC
6. later in 1999 , KIADB registered the Sale DEED-1 to first company
7. later all Release DEED were also registered
8. in EC also all transactions are present...
My Question to Esteemed panel
1. As Sale DEED-2 date is before Sale DEED-1, is Sale DEED-1 which was executed in 1995 valid?
2. is the Second Company the absolute owner?
3. Can I buy Half portion from Second Company, I will become third company...
4. Should I be careful about something?
5. Who is the expert lawyer in such matters? Whom should I appoint as Law Firm for this transaction?
Thanks
AJ