Dear Sir
3 persons started the company with 40%,30%,30% shares and were the first directors as per AOA. Subsequently 2 directors holding 40% and 30% resigned from the directorship but still the Share holders as per the ROC, as the shares are in the name of us (unfortunately the share certificate was not there- printed). Now the shareholder who is presently also the director of the company on his own appointed 2 additional directors has without the consent of the other shareholders.
Moreover the company has not filed the accounts, have not conducted AGM till date and also failed to circulate the financial statements to the other shareholders.
The question is what rights the other 2 shareholder who are not now the directors do have. Whether they can remove the additional directors. and what action is availabe in law against the other shareholder who has not taken any interest in providing records / minutes/financial statements to ROC.
Request please guide with necessary sections and case laws if any.
Tks/Brgds
sivakumar a.b.
