Right of shareholding holding 50% shares
Goapl Garg
(Querist) 30 April 2015
This query is : Resolved
I hold 50% of the total shares in a company for long time and balance 50% shares are held by our relative.I was not director and only invested at formation stage with an intention of prospective returns.My relative used to look after and he himself and his wife were directors. three-four years ago we developed differences and since then I am not given any information,paper,access, anything by my relative and virtually thet control all the affairs.They have also appointed two new director but have not changed the shareholding patterns.I have to come that the company have been conducting big deals in papers and indulging in fake transactions to generate false purchase and sale and is earning commission but surely business what it is doing is not genuine and legal.The office,godown and factory shed is also in the name of the company.I desire to get separate from this but i am not heard by them.
i want proper records, intimation, access and a say in the affairs of the company and stop such business which is not lawful.
what options are available to me.my letter for any informations etc is returned and is not receivd.
Goapl Garg
(Querist) 01 May 2015
yes it is repeated one at the same moment, but both are unanswered.kindly advise...
T. Kalaiselvan, Advocate
(Expert) 04 May 2015
You may consult a local advocate and consider withdrawal of your share from the company. Since you are not the partner or one of the directors your interference in the company's affairs will be looked down. If you find illegal activities of the company and are concerned about it, you can very well lodge a complaint with the police or the concerned authority about such activities of the company against the directors who are involved in it.
malipeddi jaggarao
(Expert) 06 May 2015
It is a private limited company and you are entitled to the profits as per the share holding pattern. Examine the Balance sheet so that you will know your profit share. Send a legal notice to the Company and its Directors demanding the profit as shown in the balance sheet. If balance sheet is not accessible, for that also you can send legal notice asking the company to supply a copy of balance sheets since inception. If they do not heed, you can file a complaint with Registrar of Companies and take them to the court of Law.
