Share transfer

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2013 Dear All,
XYZ is a pvt ltd and has A (Father) B (Mother) C (Son) D (Daughter) as members of the company, now C increased the paid up capital and allotted it to him and his wife, thereby the share of D has been decreased considerably.... Now what is the remedy available to D.

Could anyone help me in this regard. Its urgent

Thanks in Advance.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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07 March 2013 Your query is not clear, how did C increased the share capital and how share of D decreased

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2013 No sir, ABCD are the directors of the company since family members are the directors sole authority is vested with C and C by passing a resolution in Board meeting without the knowledge of D increased the paid up capital of the company and alloted the shares to him and his wife. Now the percentage of share held by D decreased because new shares are alloted to C ... So is there any option or remedy to D

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CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 March 2013 In my opinion D can file application for prevention of oppression and mismanagement u/s 397-398 provided if D holds at least 10% of issued share capital of the company.
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Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2013 thank you Sir....