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General query

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SUBHANKAR MULLICK

ACCOUNTANT

75 Points Posted on 03 April 2020

a director of a private limited company purchased land in his own name .now he wants to transfer the land to the company name . what is the procedure?

Replies (2)

Quick Summary

This discussion outlines the process for a director to transfer land they personally purchased into the name of their private limited company. Key steps include obtaining a Special Resolution (SR), arranging valuation by a Registered Valuer, and fulfilling other formalities. It also highlights considerations for related party transactions under the Companies Act, 2013, including passing board and ordinary resolutions if necessary, and member resolutions if non-cash consideration is involved.

CA Naveen Chand

Chartered Accountant

8022 Points Posted on 05 April 2020

comply with Sec 192

Short Points :

1. required SR

2. valuation by Registered Valuer

3. Other formalities

Harish choursiya

Student cs professional

174 Points Posted on 08 April 2020

For this transaction

1.Being the related party transaction between the company and its director. Read with section 2(76) and 188(1)(b) of the Companies Act,2013. Pass Board Resolution and ordinary resolution resolution if the transaction amount exceeds the threshold as mention in rule 15 of companies (MBP) rules 2014.

2. If the consideration is received by the directors of the Company is other than cash then section 192 also invoked here member resolution also required.

This is besed on my understanding.