Legal Question in Real Estate Law in India
A commercial building is owned by a Private limited company. We intend to buy the offices on the 6th Floor of the said building. However, for this we need to buy certain block of shares of the company which relate to the property. After the shares are bought, we will be granted irrevocable occupancy rights and rights to lease, sub-let or sell the property, provided a No Objection Certificate is obtained from the company. Will the provisions of Companies Act apply in this case or will the prevailing property law (of Maharashtra) apply in this case?
Asked on 10/06/10, 9:04 pm
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
companies act and the property laws of maharashtra, both will apply.
Answered on 10/07/10, 3:21 am
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