In one Pvt Ltd Co, there are 3 shareholders and 2 directors.
In BOD meeting, directors are giving powers to themselves. All are interested.
Is it legally tenable?
Jayanta Bandyopadhyay 27 September 2024
In one Pvt Ltd Co, there are 3 shareholders and 2 directors.
In BOD meeting, directors are giving powers to themselves. All are interested.
Is it legally tenable?
T. Kalaiselvan, Advocate (Advocate) 27 September 2024
A power of attoney deed can be given by a principal to his power attorney agent.
Jayanta Bandyopadhyay 27 September 2024
Sir
Ultimately decisions are taken by 2 directors both interested in the resolution. How to ensure unbiased call in such a scenario. Attorney agent follows directors mandate..then how to fix it. Family owned business. No outsiders. Frequently they deal with other Co, llp, pvt co- all are held by same family.
Auditors are silent-blind
Please guide
T. Kalaiselvan, Advocate (Advocate) 27 September 2024
Practical issues are to to be handled as per the situation prevailing, you can decide about what action can be taken on each and every development, you may not find solutions through law for every development, sometimes you may have to think over it and take decisions which would be suitable to the situation.
Jayanta Bandyopadhyay 27 September 2024
Would appreciate if you could give some hints. I am in a sorry figure. A delicate balance between my seemingly perception about wrong and reality in life.
Regards
T. Kalaiselvan, Advocate (Advocate) 27 September 2024
For all such practical issues you can fix an appointment with an advocate either in the local or outside or one from this forum too and proceed as suggested.