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Fraudulent Transfer of Shares


13-Aug-2023 (In Criminal Law)

We are 4 equal partners in the company but my other three partners have fraudulently transferred my 25% shares and also submitted my resignation with my forged signatures about 15 days ago. I just came to know about this.I want to claim my directorship and shares back, What action should I take under which Act please? 

Answers (2)

Answer #1
808 votes
1. You should lodge a criminal complaint for cheating and forgery in the EOW cell. 2. You should file a complaint with the ROC regarding the fraudulent transfer. 3. You can approach the Company Law Board and seek a stay on illegal transfer of shares. You also need to see whether you had a pre emptive right on transfer of shares.
Advocate Apurv Chandola

Adv. Apurv Chandola

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Answer #2
604 votes
Sir, prima facie this appears to be a case of cheating and fraud for which you may file a criminal complaint under the IPC. At the same time you have the civil remedy of declaration, rendition of accounts, damages etc which will be preferred before a civil court according to the pecuniary value of the suit

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