Fema- purchase of agriculture land

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An Indian private limited company can purchase agricultural land if resident Indians hold the majority shareholding. However, if Non-Resident Indians (NRIs) hold the major share, the company is generally not permitted to buy agricultural land in India, even if agricultural activities are planned.

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(Querist)
24 March 2022 whether an Indian pvt ltd company in which Resident indians share is 75% and NRIs shareholding is 25% can buy agriculture lands in india?. thanks n regards
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 March 2022 Company incorporated in India, can purchase agriculture land. You can start agricultural activities immediately after buying the land.
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madhav

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madhav (Querist)
24 March 2022 sir, suppose NRIs hold major share still that company can buy agrl land? thanks
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 March 2022 Not possible in such a case.
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