Shareholder Rights And Responsibilities

Summary

Shareholders can question the allotment of shares to others during general meetings or through the Companys Law Tribunal under the Companies Act, 2013. Sections 62, 241, and 242 are relevant for share capital issues and tribunal powers. For uncommunicative shareholders, companies should attempt contact, publish notices, and approach the tribunal under Sections 98 and 248. Companies must ensure AGM notices reach shareholders, as per Sections 101 and 172, but shareholders should update contact details. If a promoter leaves, the board manages the company until a new promoter is designated, as outlined in Section 2(69).

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UNDER WHICH PROVISION THE ABOVE SAID ANSWER IS
The provisions related to questioning the allotment of shares by a shareholder can be found under the Companies Act, *. Specifically:
- Section *: Deals with the further issue of share capital.
- Section *: Provides relief in cases of oppression and mismanagement.
- Section *: Powers of Tribunal to deal with cases of oppression and mismanagement.
Do you need more information on any specific section?
YES
- Section *: Covers the process of further issuance of share capital.
- Section *: Discusses relief in cases of oppression and mismanagement.
- Section *: Details the powers of the Tribunal in such cases.
Would you like more detailed information on how to proceed with a complaint under one of these sections?
YES
- Section *: Addresses the rights of existing shareholders in case of further issue of share capital.
- Section *: Allows shareholders to seek remedy for oppression and mismanagement.
- Section *: Empowers the Tribunal to provide relief and make orders in cases of oppression and mismanagement.
Would you like to know the specific steps to file a complaint under Section * or *?
NO COMMUNICATION WITH THE SHAREHOLDER FOR MORE THAN * YEARS WHAT STEPS SHOULD COMPANY TAKE TOWARDS THIS
The company should follow these steps:
- Check the Articles of Association for any specific provisions regarding uncommunicative shareholders.
- Attempt to contact the shareholder through all known means (mail, email, phone).
- Consider publishing a notice in a widely circulated newspaper.
- If unsuccessful, approach the Company's Law Tribunal for guidance on how to proceed.
Do you need more details on any of these steps?
yes
If the company hasn't had communication with a shareholder for more than 15 years, they should:
- Check the Articles of Association for specific provisions.
- Attempt contact via mail, email, and phone.
- Publish a notice in a widely circulated newspaper.
- Approach the Company's Law Tribunal for guidance.
Would you like detailed information on any specific step?
s
Could you please specify which step you would like more detailed information on?
approaching company law
To approach the Company's Law Tribunal regarding lack of communication with a shareholder, you can follow these steps:
- File an Application: Draft and file an application to the National Company Law Tribunal (NCLT).
- Supporting Documents: Include all evidence of attempted communication and the Articles of Association.
- Legal Representation: Hire a legal representative if necessary.
- Tribunal Orders: Follow any orders or directions given by the Tribunal.
Would you like more detailed information on how to file the application to the NCLT?
which section provide this provisions
For addressing the issue of lack of communication with a shareholder, you can refer to the following provisions under the Companies Act, *:
- Section *: Powers of Tribunal to call meetings of members, etc.
- Section *: Provisions for removal of the name of the company from the register of companies (which includes dealing with uncommunicative shareholders).
Would you like more detailed information on either of these sections?
companies responsibilities towards uncommunicative shareholders
The company has certain responsibilities towards uncommunicative shareholders. Here are the steps they should follow:
- Check the Articles of Association for any specific provisions.
- Attempt contact through all known means (mail, email, phone).
- Publish a notice in a widely circulated newspaper.
- Approach the National Company Law Tribunal (NCLT) under Section * for guidance.
Would you like detailed information on any specific step?
which section provides the above details
The responsibilities of the company towards uncommunicative shareholders can be found under the Companies Act, *. Specifically:
- Section *: Powers of Tribunal to call meetings of members, etc.
- Section *: Provisions for removal of the name of the company from the register of companies.
Would you like more detailed information on any of these sections?
is company is liable for uncommunicated notices for agm
The company is required to communicate notices for the Annual General Meeting (AGM) to all shareholders. Failure to do so could lead to legal consequences. Under the Companies Act, *:
- Section *: Notice of meetings.
- Section *: Penalty for default in complying with provisions of this Chapter.
Have you experienced issues with receiving AGM notices?
if the shareholder didnt received any notice for agm for past 10 years is this companys mistake or shareholdres mistake
The company is generally responsible for ensuring that shareholders receive AGM notices. According to the Companies Act, *:
- Section *: Notice of meetings
- Section *: Penalty for default in complying with provisions of this Chapter
Would you like more information on how to proceed if you haven't received any notices?
responsbility of shareholder for not receiving notice for 10 years
The company is primarily responsible for ensuring shareholders receive AGM notices as per the Companies Act, *. However, shareholders also have a responsibility to update their contact information with the company.
Would you like more details on how to address this issue legally?
yes
- Company Responsibility: Under the Companies Act, *, the company must ensure AGM notices are sent to shareholders (Sections * and *).
- Shareholder Responsibility: Shareholders must update their contact details with the company.
Would you like to know the detailed steps for addressing this issue legally?
if actual promoter left the company, then who will be treated as promoter thereafter
- If the original promoter leaves the company, the new promoter is generally the person or entity that assumes control and management of the company.
- The new promoter could be an existing major shareholder, a new investor, or the board of directors.
Would you like more information on the process of designating a new promoter?
which section provides this condition
The relevant provision can be found under the Companies Act, *:
- Section *(*): Defines the term "promoter" and outlines the circumstances under which a person can be considered as a promoter.
Would you like more detailed information on Section *(*)?
if no promoter was desingated then who will be
If no promoter is designated, the board of directors typically assumes the responsibilities of the promoter. Under the Companies Act, *, the board will manage the affairs of the company until a new promoter is identified or appointed.
Would you like more information on the specific duties of the board in this situation?
s
The board of directors typically assumes the responsibilities of the promoter if no promoter is designated. They will manage the company's affairs until a new promoter is identified or appointed.
Would you like detailed information on the specific duties of the board in this scenario?
yes
The board of directors has several key responsibilities in the absence of a promoter:
- Manage the Company's Affairs: Oversee daily operations and strategic planning.
- Compliance: Ensure compliance with legal and regulatory requirements.
- Financial Oversight: Monitor financial performance and ensure proper accounting.
- Decision Making: Make critical decisions regarding the company's future.
Would you like more details on how the board handles these responsibilities?