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Q. irregularity in issue of rights share in private limited company

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posted 1 year ago

Q.irregularity in issue of rights share in private limited company
I would like to know what legal / under companies act action can be taken on private limited company / directors for not sending the information / application details for right issue of shares.

We came to know about right issue after months from some other shareholder but I was not sent any information so I loose the chance to buy the right shares.

In the process I lost good opportunity to make money.

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Neeraj Kumar

Experience: 2 Year(s)

Responded 1 year ago

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A. ) Hello there,
Have you asked the Director about this issue, and if not then Ask him " Why doesn't he complied with procedure" through a legal Notice, by an Advocate .

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Replied 1 year ago

When I asked him, he gave very vague answer that he thought I may not have money to invest and then I came to know that he has purchased the shares ( my right issue ) by himself.

He has also taken my signature on renouncing my rights of right shares and told me, what ever loss is incurred will be made good by him and now he is not honoring his commitments.

Under what section we can send a legal notice and what is the punishment ? if proven ?

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