Mayank Singhal (director) 31 October 2009

Need Help Plz

hi i am Vishal kumar and my dad and his two brothers were directors in a private ltd company and just 1 year back my dad resigned and i joined the directorship in his place same with my uncles and their sons. now we three cousin brothers are the 3 directors in this company. but now the other 2 directors are not letting me use the companies assets . is there any law with which i can file a case against the company or the other 2 directors and just get the money worth of my share in the company ? please reply thanks in advance

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4 Replies

Gundlapallis (Advocate) 02 November 2009

Only you three constitute the company board or are there any other members or share holders in the company?

Meenakshi (Lawyer) 04 November 2009

Yes you can proceed under the company law considering you being a director which entitiles you the share in the company`s assets.But you will have to prove in court that you are appointed as one of the directors of the company....

Meenakshi (Lawyer) 04 November 2009

And also when you sign the memorandum of association there is a clause where the rate of percntage for each director as to how much share in the capital is each director entitled to claim exists...so My advice Read the memo and tell them that you will initiate legal proceedins against them considering the agreement signed by you...