Dear SSJ,
Ur case is not clear but Hope one of the following:-
Case 1 - Solution to Practical difficulty for signing of Cheques
The Power to sign Cheque can be delegated to 1 Director or to any other officer by passing a resolution & forwarding a copy of that to ur Bankers...
Case 2 - Removal of Director
If u have decided that u don't want to carry on with that person then law can do nothing in it since he is also holding equal no. of shares in the company...It's U who has to clear this thing with him..Ki Boss Ur attitute is not going to work anymore & it's high time that v should walk on our own roads...AND IF HE AGRRES TO THIS THEN OPYIONS 4 U
1) WINDUP THE COMPANY & START A FRESF ( BUT NOT ADVISABLE)
2) ASK HIM TO LEAVE & TRANSFER HIS SHARE FOR CONSIDERATION IN FAVOUR OF OTHER PERSON(WITH WHOM U R COMFORTABLE)
3) U RESIGNS FROM DIRECTORSHIP & TRANSFER UR SHARE IN HIS FAVOUR FOR A CONSIDERATION AND START A FRESH..