Legal Question in Landlord & Tenant Law in India
what does 3 companies having same shareholding mean? and under the land ceiling act in rajasthan can these 3 companies buy separate piece of land without exceeding the ceiling limit? yes or no with explanation and any case law.
Asked on 5/24/12, 3:31 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
24.05.2012
Dear Sir / Madam,
These are three floated Companies with the same shareholding pattern.
If the Memorandum and Articles of Association of these Companies permit the Company to purchase land, it is well within their right to buy separate pieces of land without exceeding the permissible ceiling limit as applicable in Rajasthan.
You can mail me for any further on-line advice at [email protected]
Regards,
Answered on 5/24/12, 3:40 am
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