Ways to resolve director's dispute


Hi 

I want to know if there are disputes between directors and both are having 50% sharing in the company.

What all ways are there to clear the dispute?

Can i have valuation of the company and can legally force to follow that rule...

EX: including all assets, etc.. valuation comes to be 1 lakh. So another director gives / takes the amount to another. Is this a legal solution to resolve dispute ?

What all ways are there to resolve this. (ofcourse there can be a Court case; but don't want to go that way)

 
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If it is a partnership firm, what are the terms and conditions governing the partnership?, you can get the solution by revisiting the terms of your partnership deed.


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Thanks for your reply

Its a pvt. ltd. company.

Other director is authorized signatory and also the company account is single owned by that director. Since i was in a glimpse that everything would work fine... but things are worse now...

Is there a way i can temporary close the company bank account. (its ICICI account) so that transactions cannot be done till the things are not resolved.

 
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If the account is operated by a single person even in the name  of the company as a director/proprietor, by giving a letter, you can close the account, there is nothing wrong in it but what are the other conditions with the so called partner which is controlling the business? better to have a consultation with the company's auditor by presenting the factual situation and go by his advise instead of hanging around the legal issues later on.


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