Change in shaeholding

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2013 If in a Private limited company listed with shares, there are three Directors(A, B @ c) with equal share holding. If DirectorB transfers all his shares to DirectorC and DirectorB resigns all this without giving intimation to DirectorA. Is there any legal action that can be taken by DirectorA

Ajay Mishra

Ajay Mishra (Expert)

20 February 2013 Hi

You can not give the approval of transfer and take note of resignation without the consent of Director A.

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2013 Hi Ajay!!
Thanks for the reply.
what about shares can they transfer shares without the consent of the third director.
The case over here is bit different DirectorB was made to resign in the year 92( by fraud sone by DirectorC)
Now few years back DirectorB who was still holding shares of the company transferred all his shares to DirectorC without the consent of DirectorA.
DirectorC is holding major shares in the company and is dominating DirectorA.
IS there anything that DirA can to legally?

Ajay Mishra

Ajay Mishra (Expert)

21 February 2013 Hi

The Transfer will not be valid, until the Board of the Company approve the transfer.

Please also check, what your Annual Return showing about shareholdings.

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