Changing Status of Shareholders

We are a family owned Private Limited company with 99.96% shareholding (3 Shareholders combined 9996 shares). There are 2 other shareholders owning 2 shares each (Total 4 shares). I am trying to simplify the company working

- How do I remove these two shareholders with 4 shares? They don't want to sell these shares. What are our options in the act to take these 4 shares back from them?

- How do we change these 4 shares to non-voting class of shares? Is there any option in the act to do that?

Any guidance is appreciated on our options. 

Replies (2)
Quick Summary
A family-owned private limited company with 99.96% shareholding is seeking ways to address two minority shareholders who hold a combined 4 shares and are unwilling to sell. The company wants to simplify operations and prevent potential interference. They are exploring options within company law to either remove these shareholders, change their shares to non-voting class, or find alternative solutions to manage this situation effectively.

Shareholders cannot be removed nor you can change the voting right.

Thanks Pritesh ji. Essentially if my family owns 99.96% of shares and we have 2 outsiders with 2 shares, we would need to keep complete transparency with them no matter what for everything including inviting them for AGM etc....Is there anyway in the act to prevent this interference ? I am trying to buy the shares which really have insignificant value but the shareholders want to hold them for no logical reasons


Any ideas on what can be done?

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