Queries regarding selling of property by a director to wife

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2013 Dear sir/Mam,
Please give your opinion for the following matter,

i) Can a director sell company's property to his wife or relatives?

ii) If yes, what are the formalities and how value is to be fixed?

iii) If these formalities are not complied with, what is the consequence?

Kindly, help us with your advice and send the bill for professional services.

Thank you.

Yours faithfully,

Ajay Mishra

Ajay Mishra (Expert)
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10 September 2013 Hi

The company can sell the property to director wife.

The value will be decide by valuer.

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