non compliance of company act
Suresh Jha
(Querist) 07 March 2016
This query is : Resolved
Sir,
My wife is holding 20% shares of a pvt.ltd.,company and is one of first directors.
She has deposited 12 lac rupees to company after taking loan from someone and partly from me.
Now, the remaining directors are taking business decisions with my consent and without intimation to me about any resolutions.
Informations are their that one of the director (who was authorised to execute sale/purchase deed) has executed sale deed of land of which company is not having ownership.
Considering above irregularities my wife has offered to sale all the share to remaining director and request for resign from directorship, but neither any board meeting was called nor she was intimated about her request.
They have submitted financials report to ROC without intimation and discussion in board of directors.wherein deposits have been shown as long term loan.
They are not ready to purchase share nor permit to sale to others.
Please advise how to come out from the company with my deposits
Suresh Jha
(Querist) 07 March 2016
Sir,
Read " with my consent" as "without her consent"
Rajendra K Goyal
(Expert) 08 March 2016
Consult with local professional after showing him all the related documents.
H.M.Patnaik
(Expert) 22 October 2016
As the matter is little tricky and involves question of substantial propertyand or funds invested inthe company, it will be prudent to discuss the issues with an able company lawyer across the table with available papers and info.
