Regarding Pvt Ltd closing and other advice
29-Aug-2023 (In Corporate Law)
In April'19, we opened a pvt ltd company with 3 Directors. The two directors were working fine for company. But the third director started dubious activities against company after few months. for example without knowledge of Two directors, he started using company email ids for fake activitity, misusing of GST number, misusing of company letter head, contract happened with a company for vendor work by our Pvt Ltd but he took payments into his own personal account. So we decided not to move ahead with that situation. also came to know he already had started a new company. Now when we both directors are telling him to help us close our company and Bank account. He is not taking interest at all.
Please help me suggest what to do and legal options to come out from it. He is saying you both cannot do anything against me, also you both cannot resign also as per the law. Please help and suggest
According to Company law company requires two directors for day to day activities and same applies at the time of voluntary windup of the company but it also requires all the directors to submit a form for winding up. In your case it will depend on the shareholding of the parties involve in the company. it can be done and you can separately file a case of misuse and misoperation and misconduct of company and its assets against the third director.
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