Dear Experts,
A company having 5 members A, B, C, D and E each share 20% each. A, B and C are the directors.
As the time goes by, B and C became a group and did activities against others interest.
Seeing his ineffectiveness in the director board, A wanted to make D and E also the directors, so that the director interest and public interest will be almost the same.
This is a private company.
Now, how can D and E become directors? To consider them for directorship at a General meeting, the board has to first approve the meeting agenda..right? In this case, since B and C are against others, the existing directors may not approve the agenda for making D and E directors.
In this case, what is the solution to keep the majority interest.
Thanks and Regards,
ArchAngel
CAclubindia
