NAVEEN KEDIA (DIRECTOR) 18 August 2012

Joint family - legal standing in case of limited company

Hi,

We are a joint family of 3 brothers and have a parent holding company (Public Limited) which has majority shares in all our companies.

Both my elder brothers have 26% share holding (i.e. 52% in total) and are even directors in the parent holding company and I have 20% share holding and am not a director in the parent holding company. Though all 3 of us are equal owners , but in the parent company I have less holding.

Now they have got together and I feel they want to kick me out without giving me my 33% share , since they have 52% holding I feel I have no chance.

Please let me know if legally I stand a chance.

Thanks in advance.

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CS (cs) 18 August 2012

You must insure safe custody of your share certificates costituting 26% of shareholding, these can not be transfered without your will and execution

So feel secure about your present holding

Ask your brothers to restructure the ownership so as to reflect equel one third ownership of parent company

it is vital for you to hold director ship of holding company as well as other subsidiaries companies.

let them be together you have full chance to get your share and directorship.

court has setteled this law in many family run business Like MODIs etc.

you need to be aware and collect documentary evidence and ask for your share

Regards

P C Gautam

CS LLB

Joint family - legal standing in case of limited company

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