Restriction on removal of director

This query is : Resolved 

20 March 2012 Sir/Madam

I have a Pvt. Co. having 3 directors holding shares in ration of 4:3:3.
1]Now I want to put restriction om removal of director in such a way that one director can't be removed by other 2 directors forming some sort of coalition.

2]i want to put restriction on transfer of shares in such a way that one person can't transfer shares without full consent of other directors.

Please help me in this regard and tell whether the above conditions can be implied?

thanks in advance

24 March 2012 Dear,

amend the articles and put this regulation inside that.

24 March 2012 Sir
I guess the ist condition i 've mentioned cant be put as such as it will be ultra vires the act.
Kindly suggest me the amendment to be made so that it is in line with the act.
also the formalities to be done after amending the AOA.

thanks


24 March 2012 Dear Ankur,

I have seen the conditions to put restriction on removal of Directors. Then incorporate this agreement in AOA. No problem in this.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries