a private company has 4 directors 3
has majority shares of the company. majority director issues preferential allotment to all except 1 ie minority shareholder... his rights diluted less than 10,% of its shareholding... kindly suggest me the remedies available for minority shareholder.. they 4 r also directors of the co.. nd company comply with all the provisions of the companies act..
4 Replies
meenakshi upreti
(99 Points)
Replied 28 March 2019
but he is also director of the company then what can we do?
Vijay Boliya
(220 Points)
Replied 28 March 2019
He can apply before tribunal for opperation and miss management.
meenakshi upreti
(99 Points)
Replied 28 March 2019
in case of oppression n mismanagement the shareholder shall have atleast 1/10th of total share capital.. in case if his shareholding is less than 10%.. then how can he apply to the tribunal..
Vijay Boliya
(220 Points)
Replied 28 March 2019
No problem he can apply under section 245(1)(g)(¡). Read section and Interpreat with DEMAND word in (¡).
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