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Author Topic: Being cheated by company director/shareholder  (Read 1102 times)

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Offline smatts

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Being cheated by company director/shareholder
« on: June 20, 2016, 02:31:23 AM »
I am an NRI and one of a director/shareholder out of 3, to a pvt. ltd company registered with the ROC India. The company is a news media company and is associated with the printing and publishing a daily newspaper in Kerala. The newspaper license holder is also the director of the company but the license is not linked to the company. Since the last 3 years, I was funding the company as a loan for the working capital every month. Since the start of 2016, the newspaper was approved by the Public Relations Dept. with B grade and started getting the Kerala State govt. advertisements. The first revenue from the govt. as Rs. 2 lakhs and the newspaper license holder got the money into his private account and he started claiming the money to himself. Since he was working at another newspaper firm and was least involved the operations in this company, the other directors had told him to make the account joint account and continue the operations like before. We need money to urgently renew the ROC registration and file IT returns. But he want to claim the profit percentage without paying back my loan of Rs. 20 Lakhs incl. interest for the last 3 years. I managed to get his signature on the company accounts accepting the loan from me. I need help to deal with this and get back my hard earned money.

Offline NCLTNews

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Re: Being cheated by company director/shareholder
« Reply #1 on: July 19, 2016, 11:49:50 PM »
As, per your problem, you can take help from any law consultant or any firm who provide services regarding the company law.


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