09 May 2015
I alongwith my relative hold 50% each shareholding in a small private limited company dealing mainly in Real Estate.Its Registered Office situated at the premises owned by my relative.I work for a corporate house and did not join Borad as Director or signatory in Bank etc.The relative and his wife were two Directors.The business was smooth for a long time with myself as a sleeping investor and of support from outside.
The company has reasonable stock of Assets in form of some Land and Flats,shoaps apart from inter corporate investments.Also deal in shares and hold shares.
Relations soared and I am now not allowed any access to company, its records, accounts, business & transaction details.The Directors have been replaced by their own Friends without change in shareholdings.Practically my entity has been reduced to zero level.As I am not allowed access to office my personal papers and own shre certificates are also left there and I do not possess my own share certificates.The Return filed with ROC for 31-03-2014 however confirm my holding as earlier.
I am loosing my shares, investments,rights,and the share in assests of the company. What to do?
09 May 2015
First you should try to short out all matters by mutual cooperation. Share certificate is a conclusive evidence of shareholding. They can't transfer your shares without a transfer deed signed by you. if you are not a shareholder as per recently filed annual return then you have to move to Company Law board.
10 May 2015
Sir all the efforts for amicable resolutions have failed as the opposite has developed negativity in mind.Kindly advise about formal steps.
CAclubindia
