Fraud in my private limited company.

Rakesh (Querist) 20 September 2013 This query is : Resolved
Dear sir,
I and one of my partner made a private limited company with paid up capital was of 100000 shares. The authorised capital of the company was of 400000 shares. The company consist of an agriculture property. 50% shares (ie. 50,000 shares) were alloted in my name while other 50% shares (ie. 50,000 shares)were alloted in my partners name as directors. MY Partner alloted the authorised capital shares (400000 shares) to some other private limited company (in which his son is director)without my consent and knowledge. Now, he has also appointed 2 new directors in the company without my knowledge and consent as additional directors. Now, my share holding in the company is reduced to 10% and his share holding has increased to 90% and 2 new additional directors are also added in company without any company meeting or my signatures. I am worried, whether my partner can sell the agriculture property in name of company without my consent and knowledge? what steps should i take to stop him doing so?

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Raj Kumar Makkad (Expert) 20 September 2013
You being a commercial house, can easily afford the legal fee of the professional so why to depend upon charity service?