Share holder rights
This query is : Resolved
Bijoy Deka
(Querist)
28 December 2009
In a Pvt. Ltd. Company Directors and Managing Director signed an agreemnet for extension of Managing Directorship post for another 5 years by violating the Article of Association and Companies Act 1956. Can a share holder challange this agreement on High Court. Also this agreement is not passed in the AGM. It will be highly appreciate if any one can give case reference in this regard.
Arjuna Raina
(Expert)
28 December 2009
No,if the co will amend their AOA then no challenge.
if not then it is void.
if not then it is void.
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