Anti company activities by x share holder can we stop his pdcs

986 votes

First, you state that the shareholder has left your company and "YOU" have paid the shareholder via pdcs. Please clarify what do you mean by shareholder has "LEFT" us and what is the payment being made towards?

Secondly, there is no restriction on the shareholder to engage in a business similar to the business in which he is/was a shareholder. So the pdcs cannot be stopped or delayed just because of this reason.

Thirdly, you need to specify what is the 'false information' that the ex-shareholder has been circulating to your customers and what are the problems that you are facing. Entire facts are needed to comment upon anything.

Fourthly, no agreement would be valid if it is made forcefully or under coercion. However, if the shareholder agrees to enter into some non-compete agreement etc. out of his own free will then he can be restrained from engaging in similar activities.

Lastly, the stopping of his pdcs will not solve your issue of his circulating the alleged 'false information' to your customers.

Kindly provide full facts.

Advocate S Shiva LawRato

935 votes

You should not arbitrarily stop his PDC is in fact I suggest you kindly send him a legal notice buy mentioning all facts which has been done or not done against you and you can also mention regarding damages which he has caused you by providing false information..... And most importantly consult your advocate

Advocate Siddharth Dev LawRato

548 votes

apologies for the late reply
Does The PDC's which you have given relate to his not sharing of the details. Firstly, it has to be seen whether there was a confidentiality clause in any agreement between you and your share holder. Stopping the cheques might create a problem for you unless you have a valid reason to stop it. Yes if he is ready to sign an agreement before encashing the cheque you can do that

Advocate Shekhar Raj Sharma LawRato