A closely held public Company has not issued shares certificates to its shareholders. one of the shareholder was also a director in the Company, but due to some problem he was not able to attend four consecutive board meetings of the company and he was removed from the board. Now the directors are planing to sell the company, and as the minor shareholders are not even having share certificates with them, nor they have any person to represent them on the board. What is the remedy available to the shareholders, if they do not have any proof of amount paid to the company for the shares, nor they have any certificate with them, there is an probability that share holder's register might be altered with ill intentions by the present directors of the company. Please guide me that what actions should one take, whom to appeal. Kindly guide.
CAclubindia
