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Query related on Directors

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(Querist)
14 August 2008 Can a company can purchase immovable property,land & Buliding, in the name of directors?
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Srinath A. N.

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Srinath A. N. (Expert)
14 August 2008 Since the Company is a separate legal entity, it should buy property in its own name. In case it buys in directors name, it will be property of director and not the property of the Company.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
14 August 2008 No, the company can not buy the property in the name of director.




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