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Author Topic: Need advice/information on partnership stake sale  (Read 202 times)

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Offline getluped

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Need advice/information on partnership stake sale
« on: August 31, 2016, 09:53:10 AM »
My uncle has an Private sector Industry named X and it has 2 units(branches) in which we have a very little stake and he is the major stake holder. He planned to sell a Unit from X and start a new unit with upgraded equipment. Hence, he asked us to sign on NOC document. He neither informed us about the sale deal nor about the our stake position after the sale so far.  We came to know about the sale published on newspaper. My parents doesnt want to question him as he is our blood relation and this may spoil our relationship although they're worried about the stake money.
I would like to know:
what could be his legal course of action by not informing us as a shareholder about the sale? Does he reserve the right to sell it legally without informing us?
If only 1 branch is sold and the other unit remain same and a new unit is launched, will our stocks be moved to the new unit or he has the authority to remove our stocks from entire Organization?

PS: The initial price of the stock was 10Rs and is 100Rs now. If he buy our stock, do we get the price for each stock as 100Rs?

Any help would be appreciated.

Thanks in advance!

 

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