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
CAclubindia
