What is the majority of shareholder?

Querist : Anonymous (Querist) 12 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 refuse something for company's management,Can not I proseed it?

I have a majority of Share number .
But half majority of person number.

Can I sell my share to other without his sign, agreement?

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adv.rajendrasharma (Expert) 12 May 2011
the majority sharme holder means majority of stakes of more than 50%in paid up share capital of the companynormally in day today business affairs of the comany there is no question arises problem can be faced only when critical decision making process whwre special resolution is required to be passed by circulation of resolution alongwith xplainatory statement but if there is no justification to oppose any policy decision then minority shareholder cannot per say object to it the shareholding can be sold but transfer of shares subject to approval by board resolution ., however if any dispute arises then company law board have a jurisdiction in deciding dispute under company law

adv.rajendrasharma (Expert) 12 May 2011
for selling shareholding in pvt ltd company no formal agreement is necessary in writing but after selling shares transfer of shares in the name of transferee required to be approved by board resolution if cmpany fefuses to transfer without any valid reason then transferor can approach to company law board for necessary relief under company law

Guest (Expert) 19 May 2011
Yes, i agreed with the adv.rajendrasharma advise.you are a director and 95% shareholder but transfer of shares subject to approval by board resolution.

Advocate. Arunagiri (Expert) 19 May 2011
You can sell your shares without the permission of the other director.

Querist : Anonymous (Querist) 19 May 2011
Can he who has 5 % share sell his share without my permission also?

Guest (Expert) 19 May 2011
If you can sell your property (shares) as per your sweet will, why the other shareholder can't?

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