Restriction on removal of director

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Ankur Soni (Querist)

20 March 2012 Sir/Madam

I have a Pvt. Co. having 3 directors holding shares in ration of 4:3:3.
1]Now I want to put restriction om removal of director in such a way that one director can't be removed by other 2 directors forming some sort of coalition.

2]i want to put restriction on transfer of shares in such a way that one person can't transfer shares without full consent of other directors.

Please help me in this regard and tell whether the above conditions can be implied?

thanks in advance

HONEY AHUJA

HONEY AHUJA (Expert)

24 March 2012 Dear,

amend the articles and put this regulation inside that.

Ankur Soni

Ankur Soni (Querist)

24 March 2012 Sir
I guess the ist condition i 've mentioned cant be put as such as it will be ultra vires the act.
Kindly suggest me the amendment to be made so that it is in line with the act.
also the formalities to be done after amending the AOA.

thanks

HONEY AHUJA

HONEY AHUJA (Expert)

24 March 2012 Dear Ankur,

I have seen the conditions to put restriction on removal of Directors. Then incorporate this agreement in AOA. No problem in this.

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