Dhiraj Kumar SInha (Hyderabad) 15 February 2010
A shareholder of the Company is spreading rumours against the management and the Directors of the Company. He has been also sending threatening emails to various associates of the Company.
What are the possible action a company can take against him? He is also a CA, can company complain against him.
Deepak R Mahapatra (Lawyer) 15 February 2010
Hi,
One of the ways to handle these shareholder is to file a Extortion case against him under section 383 of IPC and also file a deafmation suit under sec 499 and sec 292A of the IPC.
As far as Companies Act is concerned the Companies Act does not provide any remedy for the behaviour of the errratic/unscrupulous shareholder. However refernce can be made to section 625 of the Companies Act for limited remedy in the hand of the Company.
Deepak
V. VASUDEVAN (LEGAL COUNSEL) 17 February 2010
Best course of action would be to write a detailed letter, setting out the serious repurcussions and the prejudice that may be caused to his fellow shareholders. You may request him to write his genuine grievances if any and provide a forum/opportunity to have a dialogue. Have the meeting with transparency. Despite this if he continues then you may send a legal notice intending to initiate action. Usually acrimonius members cause quite a problem but more the company handles his query in a corporate and professional process, the issues gets addressed in due course of time.
vasudevan
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