How much is the share value?

Querist : Anonymous (Querist) 10 May 2011 This query is : Resolved
There are 2 person are shareholders and directors of the company. One person has 20% share. Total capital of company share is 2 lakh. There are some property assets also in company.
Now he want to sell his share, and take 20% of property value amount in market price after minus exp. Is it his rights or not?

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Raj Kumar Makkad (Expert) 10 May 2011
It can be done with mutual understanding.

Guest (Expert) 11 May 2011
You have not made clear whether the partner wants the price of the property when decided to part with the company or he wants to remain the partner, but wants the price of his share of the property?

A V Vishal (Expert) 11 May 2011
He is wrong under the Companies act he is forbidden to take the property registered on the company's name as the company is a distinct legal entity and is separate from its directors/shareholders.

Querist : Anonymous (Querist) 11 May 2011
Thank you for all advice.He wants to remain in comapny depend on condition. He may sell 15% share, and keep 5%. He wants salary as director also. If he can take sufficient money from company, he will leave.

Querist : Anonymous (Querist) 11 May 2011
And if I refuse it, he will not sign for any proceeding. In this condition, what should I do?

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