PUrchase of ancestral property which was gifted without court per
Mr. X and other 6 persons (of which two were minor in 2004 agd 12 yr and 15 yrs) were the joint owners of the agriculture land in Maharashtra .In May 2004 this 6 persons have executed gift deed in favour of Mr. X, which was signed by all major and guardian on behalf of 2 minors.
Mr. X has sold the said land to Mr. Y in 2006/2007.
I represent Ms. XYZ Ltd a public limited company. we are about to buy a agriulture land for Mr. Y in Maharashtra. In this background, i request you to opine on following:
1) Is there any time period prescribed for claiming the right on ancestral property after attaining the majority? It appears form the documents, that they were minor at the time of sale to Mr. Y in 2006-07, but now have attained the majority 2015.
2) Whether the first sale to Mr. Y with out court peermission can be repudiated now in 2015?
3) What would be the best option to protect the interest company for eg. obtaining NOC from such persons who are now minor?
Your advice would help me in deciding the further action. Thank you in advance.