I have a company registered in 2007 with 4 people in total with 1Cr share capital and I was the first director.
We have elected one among us as MD in 2008 and still the same until today. Now the MD is behaving strange and acting like he/she is sole owner of the company. Now he/she is demanding me to resign as a Director.
My question is if I resign from Directorship ( promoter ) will I be liable to whatever losses they make in future ?
Can I sell my 25% stake to anyone or only to the board of directors ? and do I have to inform the other directors and take board resolution to sell my own shares ?