Private limited company- right of minority shareholder

akash (Querist) 13 February 2013 This query is : Resolved
Hello Experts,

A shareholder in a Private Limited Company, holding less than 0.02% of the total shares wants to know the sales on a day to day basis of a retail outlet run by the company.

1) Is the company bound to give out this information to the shareholder?

2) Do the annual audited report need to be sent to this shareholder, given that its a private limited company?

3) What kind of data / information is a pvt ltd co. bound to share with these shareholders?

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Raj Kumar Makkad (Expert) 13 February 2013
1. Yes.

2. It depends.

3. Every data and information which relates to the company.

Advocate Ramesh (Expert) 14 February 2013
If the shareholder asks then only the company bound to give out information to him. for the second question no need. for the third question for a pvt ltd co no need to bound to share all the data to the all the shareholders. Only the management will take care. But if the shareholder asks then the duty of the company to give data/informatin to the shareholder

devdatta Jadhav (Expert) 11 March 2013
1. No 2. Yes 3. only registers of members.annual return, minutes book. annual balance sheet & p&l a/c. Deny the access to books of accounts of company

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