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Purchase of agricultural land by a public company

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29 January 2016 Can a public company purchase agricultural land without any future purpose? Please give detailed explanation. If the answer is no what could be the consequences if it is already purchased.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
29 January 2016 There is no restriction through any central legislation. However, some states may enforce "personal cultivation" laws. Check according to the state in which the company purchased the lands. If there is any restriction either sell the land or convert the land usage.
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