I own 81% of a Private Limited Company and would like to make it 100% private. I am unable to locate the other 19% shareholders and repeated letters to their registerd address have yielded no results. How best can i wind down the company without making any payments to them or transferring the 19% to investor protection fund.
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Cancelling shares held by untraceable minority shareholders
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It will not be easy. You may discuss with your consultant whether application can be made to CLB for rectification of register of members or application can be made to High Court for approving scheme of arrangement for wiping off such shares.
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