13 April 2017
One of our Private Company have two directors who are the only shareholders holding 50% shares each. One of the director is not cooperating, neither he is taking any interest in the day to day activities of the company and also is not willing to resign from the company.
Our query is how can we remove this director as per section 169-
1. As we have only one director cum shareholder left with us and the quorum for the general meeting cannot be formed. 2. Transfer of shares is also not possible in this case as section 2(68) restrict transfer of shares incase of Private company
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