jitender
30 June 2012 at 20:37
dear members require your advice on a case.
All the directors of a public ltd company signed a registered contract with my client duly authorized by board resolutions. one shareholder having 28% of shares has now filed a civil suit for cancellation of that contract on the ground that the consideration received by the company is not as per the market rate. my query is that can a minority shareholder ask for cancellation of the contract against the company and my client?
case laws on the subject will be appreciated.
regards
Shareholder
dear members require your advice on a case.
All the directors of a public ltd company signed a registered contract with my client duly authorized by board resolutions. one shareholder having 28% of shares has now filed a civil suit for cancellation of that contract on the ground that the consideration received by the company is not as per the market rate. my query is that can a minority shareholder ask for cancellation of the contract against the company and my client?
case laws on the subject will be appreciated.
regards