Selling property without resolution

Querist : Anonymous (Querist) 10 May 2011 This query is : Resolved
I am a director and 95% shareholder. There is one more director, he has 5 % shareholder also.
If he refused for selling company's property, Can not I sell property?

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Raj Kumar Makkad (Expert) 10 May 2011
It is better to pass a resolution in the company and then entire properties can be sold as per resolution ignoring his objections.

Guest (Expert) 11 May 2011
The best way is to induct one more director by transfer of some shares to him/her by sale or as gift. Then have the resolution passed by majority vote, if that director is not agreeable.

adv. rajeev ( rajoo ) (Expert) 11 May 2011
without resolution you cannot sell the property of the co.,

Advocate. Arunagiri (Expert) 11 May 2011
The majority decision of the shareholders meet will be the ruling.

A V Vishal (Expert) 11 May 2011
Rightly suggested by Adv.Arunagiri

Querist : Anonymous (Querist) 11 May 2011
Thank you for all advice.He is not ready to transfer his share. Mr.Arunagiri,and Mr. A V Vishal, Do I have to have a board formally even he will opposit it?

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