Selfappointment as md
ravi
(Querist) 31 January 2018
This query is : Resolved
I am in the process of beginning operations within a new company. The company has 3 directors with 1/3 of the shares each. Apart from us we also have appointed a working executive director. However we are facing certain issues in regards to decisions to be made and there are few conflicts arising.
The working executive director has self proclaimed himself as the Managing Director of the company.Is this legally acceptable?
Also, he is taking decisions/signing checks etc without the consent of all the three directors.
There is one catch though,2 of the directors apart from me are from his family. In this case is it possible for them to take decisions without my consent?
Please advise as this needs to be sorted out urgently.
Dr J C Vashista
(Expert) 03 February 2018
Vague facts of a commercial query, engage a local lawyer to take care of the disputes, which the company can afford.
