A plot was allotted by HSIIDC to a partnership firm in 2008. However on its request a change in constitution was allowed by transferor (HSIIDC) from partnership firm to pvt ltd co. on 11.02.2014.
Further it was stated original allottee shall not reduce his share in company to less than 100% till one year of execution of conveyance deed or one year of implementation of project whichever is later failing which it shall be constituted as transfer.
Date of execution of conveyance deed is 05.05.2015 and date of project is around feb 2016. Date of share transfers of company is 14.03.2017
Now pvt ltd company wants to sell this plot so what would be the date of acquisition of the plot??
Date of incorporation of pvt ltd co. is 20/07/2012
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Date of acquisition in case of plot allotted by HSIIDC
Replies (3)
Quick Summary
For company DOA will be 05.05.2015.
In any case can it be 2008 since company was incorporated in 2012?
in another forum I got reply to be 2008.
in another forum I got reply to be 2008.
Difference of opinion may be there in such issues, but it should be with reasoning.
How can it be 2008 when company itself was not in existence?
For firm it had been 2008, but it had restriction for transfer. Permission was grated in 2014.
Earliest date possible as per transfer act, is conveyance deed; i.e. 05.05.2005.
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