Hi friends,
i'm the director of our pvt ltd company having maximum shareholding in the company.
due to certain reasons, i would like to transfer the ownership of our company to a new member of the family who is in the process of being a director.
Presently there are two directors in the company and he will be the third director. He is my cousin brother.
His shareholding will be 70%, mine will be 10% and dad's will be 20%
In case i decide to keep my shareholding to 1% dad's as 29% will i be able to perform all the actions of a Director or would i have certain limitations? Would it be necessary to have the signatures of more than one directors while signing the cheques or i alone can do it?
Incase i decide to reverse the shareholding pattern after few years, will it be easier to do so or would i have to pump in more funds to get back the ownership?
I would like to keep my shareholding to bare minimum and still have all the rights of the Director (functionality)
therefore is it advisible to keep the shareholding as 1% or 5% or 10% ?
What is the difference between a Director of Pvt Ltd company and a Managing Director?
Which one is better suited for me.
I shall be deeply obliged towards all brief and or concise answers
thank you!
CAclubindia
