Hi,
We are two directors in the company.
We registered company a year ago with MOA and AOA.
We din't have share holder's agreement till now.
He is holding 35% stakes and I am holding 65% stakes in the company.
In MOA, & AOA, the stakes distribution is mentioned.
But we have no other documents signed other than this.
Now he is not working since last three months and he is intending to start his own company in compeition.
Can i remove him from directorship?
Will he have those 35% for lifetime?
But yea he has worked for the company without taking any salary and built the product for the company, may be that will be counted.
Whats are the option for me in this case?
CAclubindia
