Rights of director of pvt ltd co

Querist : Anonymous (Querist) 19 July 2015 This query is : Resolved
I am a 40% shareholder and director of a family business. My brother and his wife have 40% shares and our sister has 20% shares. We were 3 directors initially. My brother his wife and myself. Now my sister is also a director. He hence we are 4 directors. My brother is MD. As he and my sister are 60% shareholders they are over ruling all my decisions. They want we out and offering me amount as per valuation of the company. But refusing to walk out when the same offer propotionate to their share is offered to me. As MD he does whatever he wants. I asked that 2 signatures on cheques with one signature of mine. I have known that he is putting false bills and taking kick backs from suppliers.
1.Can I have equal power?
2.Can there be 2 mds in the co?
3. Can I insist my signature on all cheques and all decisions?
As nothing is told to me. I had full faith in him and signed all documents. I use to look after sales and quality.
Pl guide me.

Follow Query

Report Abuse