I am forming a Pvt. Ltd. company with total 4 no. of directors
including myself. I'll be providing all the financing via.
initial capital investment + operating cost.
We have mutually agreed to keep percentage as -
55% myself and 15% each of other 3 (15x3=45%)
now my questions are :
1. What if one person backs out at any given point, what are
implications and what would happen to his share of percentage ?
2. What should I do to keep a control on decisions and financial
matters in case any of the directors cheats/wants to leave? (as
my money will be on stake)
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Answer Posted / giridhar
1.Since the status is a private limited company, then the
share transfer should happen as per CCI guidelines and it
has to be reported to RoC. In share transfer following need
to be addressed:
1. Identification of the buyer;
2. Share valuation as per CCI guidelines;
2. Hold atleast 67% shareholding to have full control over
the business activity and to eligible to pass special
resolutions as when required.
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