Month

December 2014
The term ‘Will’ defined under ‘Section: 2(h)’ of The “Indian Succession Act, 1925”, is a legal declaration of the intention of a Testator with respect to his property, as desired by him to be carried into effect after his death. A Testator has the power to appoint any person as a beneficiary under the Will....
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In our previous post (available here), we had explored the options available to Non Resident Indians (“NRIs”) and Persons of Indian Origin (“PIOs”) to acquire and transfer immovable properties in India and repatriate proceeds from the same. This issue covers the aspects relating to the acquisition of immovable property by way of purchase and options available...
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TDR is a form of compensation given to an owner for surrendering land and building to the local authority. When an area within the local planning area is required for any public purpose, i.e. for the widening of roads, parks etc, the owner of the said land surrenders it to the Local Planning Authority free...
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Subject to the Foreign Exchange Management Act 1999 (“FEMA”) and regulations issued there under, Foreign investment in real estate can be broadly achieved in the following ways: Purchase of immovable property[1]: Can be acquired by a Non Resident Indian/Person of Indian Origin by way of purchase/inheritance/gift. Non Residents can acquire immovable properties for carrying on...
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One of the trickiest questions in Karnataka with regard to holding of agricultural lands (holding would include as owner, as landlord or a mortgagee and could be with possession or without.) would obviously be, “who can hold agricultural lands?” The provisions of the Karnataka Land Reforms Act, 1961 answer this question by clearly specifying who cannot hold agricultural...
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Kharab land is a term that often pops up in various property related documents. “Phut” or “pot” Kharab is a technical term for a particular classification of land. After coming into force of the Karnataka Land Revenue Act 1964 the word pot Kharab has been defined under Rule 21 (2) of the Karnataka Land Revenue...
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In our previous post (available here), we had dealt with raising capital under the Companies Act, 2013 (“2013 Act”) on a private placement basis. This issue would deal with share application money which was once a mode of short term finance for Companies but has now been stringently regulated by the 2013 Act. Prior to the...
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