Companies act
syed niaz ahmed shah
(Querist) 25 April 2012
This query is : Resolved
a company was formed with x paid capital in 33% shares to three directors. the company is formed in 1994. in 2009 two directors resolved to reduce the share of two directors to 23 % and increase the share of one director to 54%.
this has been done in connivance with two directors at the back of the third director without his consent or any notice for the meeting when they are in full knowledge of the place and is their family brother and are partners in various business,
what are the procedures the aggrieved director should do to restore his share and is or are there criminal procedures to use and restore his share.
the company is in Malaysia, and while i stay in Dubai , though all of us are Indians and at this time we all are in India , when this disclosure has taken place.
these directors are also partners or directors on Indian companies.
have i to redress my position in Malaysia or can i ask Indian courts to intervene and act on my behalf and get by instructions of Indian court make Malaysian registrar of companies to rectify the same.
Raj Kumar Makkad
(Expert) 25 April 2012
No cause of action has arisen in your favour in India so no Court is going to entertain your matter. You shall have to study and take action according to the relevant law of Malaysia.
DR.VEDULA GOPINATH
(Expert) 26 April 2012
AFTER STUDYING THE ARTICLES OF ASSOCIATION OR CHARTER OF THE COMPANY ADVICE CAN BE GIVEN FOR REMEDIAL ACTION.
THIS IS SIMILAR TO OPPRESSION AND MISMANAGEMENT ACT AND UNDUE INFLUENCE ON THE MINORITY AS PER INDIAN COMPANY LAW CODE.
THUS CAN COMMENT AFTER GOING THRU THE CHARTER.
DR.VEDULA GOPINATH vgopinath2@yahoo.com 9848227926
Sankaranarayanan
(Expert) 26 April 2012
It all come under the law of malaysia. Through indian law you can't get the legal right their
R.RAJENDRAN
(Expert) 26 April 2012
Is the company registered with the Registrar of companies? In the event of any change in share holding, is it not statutorily required to inform the Registrar with consent of all the share holders?
How can it done with our adhering to the statutory procedures?
You disclose the full details in cogent manner.
