Resign as a director in a pvt ltd
Denis Rodricks
(Querist) 01 October 2016
This query is : Resolved
Dear Sir
I am a director in a newly formed Pvt Ltd with 30% stake, paid the share capital amount through bank by chq and also deposited extra amount for running expenses, formation of the company and logo registrations. Due to the non transparency of the other directors I want to resign as a director, please advise what steps should take regarding the accounts on the extra amount I deposited in their account and the shareholding, share certificate has not been issued yet. Thanks
Raj Kumar Makkad
(Expert) 01 October 2016
As this is your commercial query which we do not address so better to avail personalized services of a lawyer.
Guest
(Expert) 02 October 2016
Mr. Denis,
You have the need to personally discuss the matter in detail by getting the case related couments examined by some coprporate laws expert.
Any reply to your casual query may not help you in any way.
Kuummaar AS
(Expert) 02 October 2016
In the case of subscribers to the Memorandum, share certificates are required to be delivered within two months of the Incorporation of the Company. In the case of allotment, these are required to be delivered within two months of Allotment.
Please come out with full details with dates.
Ms.Usha Kapoor
(Expert) 03 October 2016
Resign and file for recovery of your amounts spent on the company in DRT and dealing with the remaining directors and their fraud. I hope you've given those amounts to fellow directors with proper acknowledgements and receipts. Armed with this evidence you can fight your case of recovery of your amounts in DRT.
Kuummaar AS
(Expert) 03 October 2016
DRT (if it stands for Debts Recovery Tribunal) may not be able to help.The Debts Recovery Tribunals have been established by the Government of India under an Act of Parliament (Act 51 of 1993) for expeditious adjudication and recovery of debts due to banks and financial institutions.
Otherwise also, money paid as share capital is not a debt.
Further advice can be given only, if the Author Denis Rodricks responds and comes out with full details with dates.
Ms.Usha Kapoor
(Expert) 06 October 2016
Enough of debates an discussions. Let us finish these discussion.
Rajendra K Goyal
(Expert) 06 October 2016
Refer the memorandum of association.
If no bank / other loan exist having your guarantee, you can dispose of your shares to other share holder / director / as per provision of memorandum.
Can file recovery suit for your extra amount paid after sending demand notice.
Kuummaar AS
(Expert) 06 October 2016
Memorandum of Association is not the document for the purpose.
The Author Denis Rodricks is silent, so no use breaking the head.
Denis Rodricks
(Querist) 06 October 2016
I am not silent, just waiting to know the views of the experts.
1. Company was incorporated on 16/02/2016 and still my shares have not been issued nor there is proper response from the other directors.
2. Bank statement nor the account statement received from them from inception till now.
3. I have not stood for any guarantee on loans etc
4. taking view of one of the expert I have resigned and filed my DIR-11 form with Roc.
Now Experts please tell me how can I get my shares and other pending amounts with the company
Kuummaar AS
(Expert) 06 October 2016
Denis Rodricks,
Is this the way to seek advice? You need to respond instantly, if you are serious.
1. What reasons did you specify for resignation from the company?
2. What is the name of the Company?
Rajendra K Goyal
(Expert) 06 October 2016
1. You can sell your shares as per MOA.
2. As a director you could have asked copy of Bank account and statement.
3. Whether the company is having any loan from Bank, have you signed the loan documents as director?
Please discuss all factors with local consultant in the field.
Kumud Prasad
(Expert) 06 October 2016
Me. Denis
Share your contact details so that we can help you.
