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Can Pvt. Ltd co. buy an agricultural land

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 March 2011 Hello Sir,

I want to know the following :

1. Can a Private Limited Company buy and agricultural land.

2. If answer to above is no, then can Pvt. Ltd. co. buy an agricultural land in the name of director who is agriculturist. ?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 March 2011 Yes a Pvt Ltd company can buy a Agricultural Land if allowed by its Memorandum of Association.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
04 March 2011 Agree with Mr. Sanjay Gupta. A private limited company can buy an agricultural land subject to such investment activity being approved in its MOA.

However answer to your second query is no. The Company cannot make investments in the name of its director. It is required to hold its investments in its own name as per Section 49 of the Companies Act, 1956.
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