Share holder rights


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 ? 

 
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Jadhav & Associates

If the MD is asking you to resign as a director. is he also paying you the share amounts you have paid and buy the shares from you.

Also, the MD cannot take the decision on his own, there is a Board of directors. Are other directors also having same view?

S Jadhav

 
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