Forfeiture and share holder agreement
This query is : Resolved
03 October 2013
Dear Experts
While issuing shares in a Private Company, it has made a SHA that, if the Share holder will not comply with any of the T & C or will not make payment thereof.
After giving a Notice period of 30 days either of the party is free to exit.
Secondly, we have an option to forfeit the shares by giving the 3 notice and following the procedure thereof.
Now the query, we want to use the weapon of Forfeiture instead of the given in SHA.
The doubt is on the subject that ''Whether the Share Holder Agreement if properly made then it is mandatory to follow ?
Can we take all action as suggested in the SHA ? Will the ROC accept the same ?
Dear Experts
While issuing shares in a Private Company, it has made a SHA that, if the Share holder will not comply with any of the T & C or will not make payment thereof.
After giving a Notice period of 30 days either of the party is free to exit.
Secondly, we have an option to forfeit the shares by giving the 3 notice and following the procedure thereof.
Now the query, we want to use the weapon of Forfeiture instead of the given in SHA.
The doubt is on the subject that ''Whether the Share Holder Agreement if properly made then it is mandatory to follow ?
Can we take all action as suggested in the SHA ? Will the ROC accept the same ?
03 October 2013
Hi
Firstly you check your SHA is in accordance with Company's articles. If not then articles of association will prevail on this issue.
Firstly you check your SHA is in accordance with Company's articles. If not then articles of association will prevail on this issue.
03 October 2013
Dear Sir
It is according to the AOA only.
It is not violating any Provision of the AOA.
It is according to the AOA only.
It is not violating any Provision of the AOA.
03 October 2013
Hi
Go to the following links:
https://www.caclubindia.com/forum/details.asp?mod_id=264390#.Uk1V5BenyVE
https://www.caclubindia.com/articles/details.asp?mod_id=18324#.Uk1V-BenyVE
Go to the following links:
https://www.caclubindia.com/forum/details.asp?mod_id=264390#.Uk1V5BenyVE
https://www.caclubindia.com/articles/details.asp?mod_id=18324#.Uk1V-BenyVE
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