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ProfessionalHow to shut down the company when the other director is not willing to do so?
We registered a company with three directors last year, we had no transaction in the last year neither filed any returns. Two of us got a job in another company that we joined without dissolving our own. Now we want to shut down but the third director went hostile and keeping the company hostage and not letting us wind up. The second director has already given his resignation letter. What are my options as a first director?
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Wazzeer Professional Network
Professional1- There should be no transaction in last 2 years, so I guess you have to wait 1 year more to start the shutdown process. 2- Yes, it is possible to close the company if the shareholders with minimum 75% shares want to close the company. 3- Hence if you and other share holders who want to close the company, together comprise of at least 75% of the total shares, then you can go ahead and do so. 4- You can also go for Director Resignation and file the same with MCA. 'Get a Wazzeer' to have your company closed seamlessly. We will take care of all the compliance part.over 4 years ago
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How to shut down the company when the other director is not willing to do so?
We registered a company with three directors last year, we had no transaction in the last year neither filed any returns. Two of us got a job in another company that we joined without dissolving our own. Now we want to shut down but the third director went hostile and keeping the company hostage and not letting us wind up. The second director has already given his resignation letter. What are my options as a first director?
-
Wazzeer Professional Network
Professional1- There should be no transaction in last 2 years, so I guess you have to wait 1 year more to start the shutdown process. 2- Yes, it is possible to close the company if the shareholders with minimum 75% shares want to close the company. 3- Hence if you and other share holders who want to close the company, together comprise of at least 75% of the total shares, then you can go ahead and do so. 4- You can also go for Director Resignation and file the same with MCA. 'Get a Wazzeer' to have your company closed seamlessly. We will take care of all the compliance part.over 4 years ago
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