1) section 79 A prohibits purchase of agricultural land by any person or family who have annual income of more than Rs 25 lakhs from non agricultural sources
2) Karnataka Land Revenue Act debars non-agriculturists from purchasing farm land, Section 109 says certain land can be exempted from the provisions of the act for the purposes of industry and horticulture, and for educational institutions, places of worship and housing projects.
3) Any company wanting to buy farm land has to go through the high-power committee before approaching the cabinet.
4) Pvt. Ltd. company can buy agricultural land and develop and perform agricultural activities on it, BUT SUBJECT TO the approved provisions of articles and the Memorandum of the pvt.ltd and MUST be approved by the Registrar of Companies
(ROC).
5) The Articles of the Pvt. Ltd. co. should clearly outline the agricultural activities the Pvt. Ltd. proposes to indulge in.
6) Under the Companies Act, a regd. co. may perform those activities that are listed in the Objects, Articles and the memorandum. By virtue of its objects and articles, as regd. under the companies act, the Pvt. Ltd., (now non-person) can function and perform agricultural activities and need not be a agriculturist as in the case of an individual person.