Illegal appointment/re -appointment and remuneration of MD
As a shareholder having invested 100% of the capital ,
The MD, refuses to send to me :
all details concerning his appointment /or re-appointment, including the approval in AGM of his appointment and his terms and conditions of his remuneration.
The MD is already sent before the CLB, and after 2 years, they still have not considered the matter to regulate the affairs.
My question is and please be precise :
What is my different actions towards the MD i can undertake, to stop him being an illegal MD and to illegaly remunerate himself.
Except with the CLB, and excepted any other petition.
Asked 2 years ago in Criminal Law from France
if company is registered in Indian company act then you have right to call general meeting and pass a resolution against MD and expel him. Publish a notice signed by directors and cease his all the rights. company law board then scrutinise this matter on receiving complaint.
It is not clear as to what relief you have adopted before the CLB. You can challenge his appointment before the CLB if you can prove that it is made in an illegal manner. A declaration from the civil court can also be sought. Furthermore, you can file a suit against the company to furnish you all the relevant documents relating to the process followed to appoint this man as MD, as also his service conditions.