Shares Transfer Private Limited

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Private Limited company where 9996 shares are held by one shareholder and 4 shares are held by 2 outsiders (2 each) shareholders of the total 10000 shares. 

The large shareholder has tried to purchase the 4 shares from the minority shareholders but they are not willing to sell. One of the minority shareholders with 2 shares is also a Director in company.

What other options are available in the Corporate Law for the Majority Shareholder to get these shares from minority holders?  This is causing operational complexity for the company. Any help and guidance is appreciated.

Replies (1)
First of all Min.2 Members are requirement under companies act, You can't compel anyone to sell his/her shares ,Secondly if you want to remove any director before expiry of his/her term, then special notice to be moved to call AGM/EOGM for this purpose, You can do one thing that First of all apply to split your holding in two parts like 5000 Shares and Then 4600 Shares, You will get two Shares Certificate after Board Meeting, Just Transfer 4600 Shares by way of gift to your family member ( Or one to whom you can trust) , After that you can send proposal to shareholders to acquire their minority stake at such price ( It's Just 4 Shares) ,So you can Pay attractive price To them, With all transferree will enter into SH-4,Pay stamp duty ( As per my view no pre approval of board is required In this case) As you both are existing shareholder ,Just submit relevant docs and MGT-1 shall be updated with your name for 4 Shares but please note, Min.2 Members are requirement under private limited company ( Except OPC) ,However you already have 99.96% Holding ,So, What 4 Shareholders can do, If its related to voting then demand poll during meeting...thats my view,

Disclaimer :-consult professional before act upon

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