Director change

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vipin rastogi (Querist)
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09 October 2013 Dear sir,
Our company has been trading as a Private Ltd Company since 2008 with three director who own equal share i want to resign and start my own similiar business my as both of them are working with public limited comany and i am putting my 100% my main question is - CAN i START OUR OWN COMPANY LEGALLY, in competition with our old company.we have no contract signed orther than MOA and AOA.
Is there any law that he can stop us from trading or sue us as current directors.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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09 October 2013 if you have not made "non-compete agreement" other director, no law of land will stop you from forming new company

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