Hi,
I am one of the director of a PVT LTD company and we have 2 directors and 1 shareholder in the company. The company was not filing ROC for last 3 years because of loss and other probelsm and in between one sharehoder was entred into the business. Since we are not filed the ROC his information is not updated on the MIC website and he is now asking to treat this as credit and demanding it back. We do have the share trasfer forms signed by him with us. When we are about to file the roc, he is calling and asking our company secretary to stop doing this. I like to know
1. Wheter he has the right to demand the money back
2. He is threatening us by filing a case against the company for not given his money back or not filed the ROC for 3 years.
3. Can he go directly to the court
4. If he goes to court what will be the consequences
5. Can he has the right to stop the CS from filing the return and ROC
Kindly help me in this.
CAclubindia
