Right of legal heir
Querist : Anonymous
I may inform that that there is such clause in the MOA or AOA of the company.
2. if the existing directors are not letting the legal heirs of the deceased director to join as a director then what is the remedial measure, provision of law and the redressal forum?
Eagerly waiting for your responses.
First of all, those shares which are in the name of deceased person should be transmitted to Legal heir.
Once he becomes official shareholder, he can demand a general meeting for appointing himself as Director and can pass resolution (in this case, if he has 75% shares, then it would be easy for him to become Director).
In short, he can become director after complying with proper procedure (not just because he is legal heir, he gets same designation)
Querist : Anonymous
As I understand that I have to first send notice u/s 109B for transmission of share in default of which action lies in CLB.
If there is clause in the AOA and MOA that legal heir will become director on death of the MD , can it be enforced through CLB.
If yes then under what provision of law.The legal heirs hold more shares than any of the individual directors but not 75% of the total shares.
Looking forward for your answer.
There was a case law, where Court did not allow a legal heir to become director just on the basis of provision in AOA. I forgot the case name but will let you know if I find it.
You can also try to search the same.
Querist : Anonymous
I would definitely search but you also please let me know such decision whenever you can lay your hands on it.
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