Legal Question in Business Law in Bangladesh

Background:

in this case, 'X' is the owner of almost 80% shares of 'Y' company (which is a private limited company incorporated in Bangladesh) but he is not a Director of the Board of the Company and since long before X is getting discriminated by the re: the profit of the company. As X is not in the Board, he simply could not do any thing for this.

Question:

Now, the question is How can X be a Director of the Company in legal way (through Court) and get his name incorporated in the management of the Company under the Company Laws in Bangladesh?


Asked on 11/22/09, 10:27 pm

1 Answer from Attorneys
Abdullah Al Mubin

Under the provision of the Companies Act 1994, X having 80% share holding of Y Company, may take any resolution within law by calling Extra Ordinary General Meeting (EGM). In this regard X does not need to go to company/civil court. If there is apprehension of resistance from the existing board, X may do it in another place at his convenience.

If X faces problem in taking possession of the office or the documents, he may take assistance of criminal court and police

.

It is not you but the present board or any of its members who will require to go to company/civil court to prevent you.

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Answered on 11/24/09, 3:31 am


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