Mismanagement by Directors
I have a stake of 3% in an indian part of a singapore based company who have their manufacturing facility in India, thought the other shareholders who are managing the compay affairs sitting in Singapore enjoy the fruits, splurging in travel and boasting a huge sale etc. Since the start is 2004 they have not declared any dividend and not shared any Balance Sheet on regular basis. It seemsall the directors may have opened another company and transacting the business in that company and showing loss in this entity. Since all other investors are directors and I am probably the only ordinary investor, how to take this forward. ?
Under the New Company Act, 2013, you can file proceedings before the NCLT against the mismanagement of the Company, Opressive management of Company Majoriy Stakeholer, Directors action agaisnt the interest of Compay, Non declaring Divident, etc. all these can be aptly redressed by filing Petition before NCLT. NCLT has the power to take over management of company. I do not have full facts of the case Please provide with complete details, so can advise you aptly.
Vivek N Mapara
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