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Can we get back Shares

rohini rao (Studying) (37 Points)

19 January 2009

A Director of a company retired. But still he continues to be the member as he still hold some shares. But as he does not maintain good relationship with the exixting directors whether there is any other way out to get back the shares held by him other than by way of Shares transfer?

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3 Replies

Deepak Maharishi (CS) (514 Points)
Replied 28 June 2010

Dear Rohini,

There is no way by which you can acquire his / her shares.

Untill unless the shareholder is not ready those shares to any other party such shares can never be purchased or acquired.

I give you an example, even if the company gives an option for buy back of shares to its shareholders, the holders which accepts the offer only will give their shares upon receipt of the requisite consideration. Otherwise company can never compel a shareholder to transfer his / her shares be it listed or unlisted.

Views of other members are also solicited.

Thanks and regards

Deepak Maharishi

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(Guest)

If you want to lower down the power of the Director in the Company, then Minimize his shareholding, As after the Minimization of his shareholding, His shareholding will be of no value in the Company.