Rights of 60% shareholders

HBJ Mumbai (Director) (125 Points)

08 April 2010  

In a Pvt. Ltd. company having 4 shareholders, 2 with 40% shares and other 2 with 60% shares, what is the power with 60% holders in case of dispute. I have some questions:

1) Can the 60% holders remove the other 2 persons as directors (all the shareholders are directors) and appoint new directors and decide on their salaries?

2) Can the 60% holders repay their own loans given to the company and decide their own remuneration (as directors)?

3) Can the 60% holders issues fresh shares and increase their shareholding ratio?

4) Can the 60% holders get bank loans and invest in machinery?

5) Would the 40% holders be liable for the losses in the company even if they were not directors?


Thanks