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How does a Shareholders Agreement protect minority shareholders in India?
A Shareholders Agreement protects minority shareholders in India by including provisions that prevent majority shareholders from making unilateral decisions that could harm minority interests. This can include veto rights on certain decisions, special voting requirements, and clauses that ensure minority shareholders have a say in key company decisions. Additionally, it may include tag-along rights, allowing minority shareholders to sell their shares under the same conditions as majority shareholders if a major sale occurs.
How a director is an agent of shareholders?
The shareholders are the owners of the company. The director, as an employee of the company, is therefore indirectly an employee/agent of the shareholders.
Who are oxfams shareholders?
They do not have any shareholders. Just trustees, who are the Chair and Executive Director of Oxfam.
What has the author Victor Joffe written?
Victor Joffe has written: 'Minority shareholders' -- subject- s -: Minority stockholders, Legal status, laws
What is oppression as per companies act 2013?
Under the Companies Act 2013 in India, oppression refers to actions taken by the majority shareholders that unfairly prejudice the interests of minority shareholders. It involves conduct that is burdensome, harsh, or wrongful, leading to a situation where minority shareholders are not treated equitably. The Act provides a legal remedy for such minority shareholders to seek relief from the National Company Law Tribunal (NCLT) if they believe their rights are being violated or if the company's affairs are being conducted in a manner oppressive to them.
Can a company director sue his own company?
yes, as the company is a legal entity, and it can be sued by the director if the shareholders of a company use the company as the alter ego of the shareholders.
What has the author Margaret Chew written?
Margaret Chew has written: 'Minority shareholders' rights and remedies' -- subject(s): Legal status, laws, Minority stockholders
How do you appoint a director to a subsidiary?
There are policies that are followed in appointing a director to a subsidiary entity. This is done by the shareholders in compliance to the Articles of Association of the company.
What has the author Sandra Du Toit written?
Sandra Du Toit has written: 'The protection of minority shareholders in affected transactions' -- subject(s): Minority stockholders, Legal status, laws
Can two directors eliminate the third director in a private limited company?
Directors are chosen by shareholders. Of course, in a private limited company, directors are probably also shareholders. But for two directors to fire a third director, they would have to control the majority of the shares.
What is a job role of a director?
they make all of the key decisions/report to shareholders they also run the company
What is the importance of Shareholders' Agreement?
Structural Framework: A Shareholders’ Agreement serves as a structural framework that outlines the rights and responsibilities of each shareholder within the company. It delineates the roles of major and minority stakeholders, providing a blueprint for efficient decision-making processes. Dispute Resolution: One of the key features of a Shareholders’ Agreement is its ability to address and mitigate potential disputes among shareholders. By establishing clear mechanisms for conflict resolution, the agreement acts as a preventive measure, fostering a harmonious and collaborative business environment. Protection of Minority Shareholders: In India, where diverse ownership structures are common, the protection of minority shareholders becomes paramount. A well-drafted Shareholders’ Agreement includes provisions that safeguard the interests and rights of minority shareholders, ensuring they have a voice in significant corporate decisions. Decision-Making Processes: The agreement delineates the procedures and criteria for making critical decisions within the company. This includes specifying voting rights, approval thresholds for major transactions, and protocols for electing or removing key executives. Business Operations: From the allocation of responsibilities to the day-to-day operations of the business, a Shareholders’ Agreement provides a roadmap for how the company will be managed. It addresses matters such as hiring and firing executives, financial management, and strategic planning.
