Shares allotment

shivshanker jain (Querist) 30 December 2016 This query is : Resolved
a company where i had been invited as a investor , offered me a directorship with a 55% share holding , i was asked to pay twenty lakhs against two lakh share of Rs 10/- each. i paid the money through bank transfer , i got the directorship and registered with ROC.

i got two lakh of shares for which i paid the fee of 600 rs and on a board resolution and form pass 3 had been assured and allotted the shares. after three month i come to know that they are planning to remove me from directorship and they have not allotted me the amount of shares they showed and promised, i came to know that immediately after the allotment they filled a cancellation of allotment without my knowledge

what measures and action can be taken now against the act, please advice?

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Guest (Expert) 31 December 2016
Dear Shri Shiv Shankar Jain,

Your problem is not an ordinary problem to be sorted out through a reply to your casual query.

Several documents may have to be examined before arriving out of any conclusive opinion for appropriate guidance to you, i.e., the offer letter, application form, Memorandum & Articles of Association of the Company, Board Resolution to allot you shares, share allotment letter, resolution to appoint you Director of the company, approval by the ROC, Board resolution to remove you from the directorship of the company etc.

So, better get a your case documents examined thoroughly from some company law expert before you decide to adopt measures take any appropriate action against the company in a very systematic manner.

Dr J C Vashista (Expert) 31 December 2016
Well advised by expert Mr. PS Dhingra, I agree.
Show the documents of registration of the company, offer of investment, application, resolution passed by BoD, RoC approval etc. to a local lawyer for appreciation, analysing and proper guidance.