11 February 2013
If a company holding 80 or 90% shares of a Pvt. Ltd company wants to sale these shares to one of its director.... what would be the statutory compliance? Will Board resolution be enough for such sale or Extraordinary General meeting need to be called?
The Board resolution will be sufficient to give effect for this sale.
This will be cover under section 292 of the companies Act, 1956.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
12 February 2013
company is subscriber to MOA and holding these 90% shares via nominee and the nominee is the same person whom company wants to sell its shares. Would this make any difference.