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Other director wants to remove me as they are in majority what to do
13-Mar-2023 (In Corporate Law)
i am an permanent director in an private limited advertising company, holding 33.33% of the share, with two more directors holding the same. we all are working partners taking salary. after working together for more then 20 years they want me to step down as they together hold majority. and if i don't they will pass a resolution in which i will be removed as an director and all the benefits of a director example signing checks,taking salary etc. In our memorandum of article we do not have any clause like this. Our CA said you can get a stay order but will loose your benefits. help!!!
A director can be removed by an ordinary resolution. Shareholders can remove any director before the expiry of his tenure, except any director appointed by Tribunal.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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