19 February 2021
A real estate private company intends to buy land belonging to SC/ST. However, since the law provides that land from SC/ST cannot be purchased by a person who is a non SC/ST, one of the Directors of the Company will buy the land and the Private Company will pay the money. Land initially will be registered in the name of the Director and then the same will be transferred by the Director to the Company and registration will be done once again in the name of the Company. Is this arrangement valid?
CAclubindia
