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Disputes regarding land pricing hindering my exit from company


14-Sep-2023 (In Corporate Law)
I am one of the two active directors of our private ltd company. Three years back I decided to quite the company after the other director raised questions about my efforts for the company , which I never imagined and came as rude shock to me. As per advice of our CA we created one more current a/c in another bank to be managed by me and handed over operations of existing CC a/c to other director as a stop gap arragement. Since the wealth of company is locked in Land today there is dispute regarding the price of land. All my proposals regarding developing the land to come out of this deadlock proved futile and the other director stone walled all my proposals. Today the other director is neither coming up with any concrete proposal nor he is accepting any proposal put forth my me. What is the solution ?
Answers (1)

Answer #1
661 votes
it generally depends upon the memorandum and articles of association of the company. have you really quit the company ?? have you given written notice to the other director of it ? how many directors are there in your company??? the answer depends upon all the questions.please contact your local lawyer for further advice.

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