Do an ordinay shareholder has a right toquestion certain business transactions to the management of a publicly listed company and seek proof and reason for the same? If so under what company act?
Regards
Arvind Patil
Arvind (None) 12 October 2012
Do an ordinay shareholder has a right toquestion certain business transactions to the management of a publicly listed company and seek proof and reason for the same? If so under what company act?
Regards
Arvind Patil
Raja (XYZ) 12 October 2012
1. you have all the right to ask as a ordinary share holder of the company. but it is not sure as to what extent the company will response.
2. you can file an application for information under RTI Act
Law Aspire (Legal) 15 October 2012
No we cant question Business Transactions , if it has been taken with the Consent of shareholders of the company.
Certain Powers of decision making are delegated to the Board of directors.
However if the Directors or majority of shareholders approves for entering in a business transaction which is against the interest of the company petition can be made for Lifting of Corporate Viel.
shraddha Shukla (Practicing Company secretary " Corporate Law Consultant") 17 October 2012
| Originally posted by : Arvind | ||
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Dear Arvind as per section 397 of companies act
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Any members of a company who complain that the affairs of the company 2[ are being conducted in a manner prejudicial to public interest or] in a manner oppressive to any member or members (including any one or more of themselves) may apply to the 1[ Company Law board] for an order under this section, provided such members have a right so to apply in virtue of section 399. |
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