Status Quo on property of a private limited company
I m a minority share holder of a private ltd company and I have filed a case of operation and mismanagement section 397/398 on the board of directors and the court has given a status quo on the very first hearing on company's Property and share holding. Case is going on since last few years but now the company directors have taken a loan on the property. I want to know can the company take a loan on this property ? Can I file a contempt of court application and what action can be taken on board of directors
We will have to examine the order of the company board. If the status quo is on the property of the company, then the company cannot take a loan and you can move an application of contempt.
So please show us the order so that we can give exact legal solution
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- IPC Section 397 - Robbery or dacoity, with attempt to cause death or grievous hurt
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