Mismanagement by director-can he be removed and shares be taken back?
One of my client is a Private Limited Company.
Company having authorized Company 1, 00, 00,000.
Paid-up Capital 20, 00,000.
Company having three director, one of them took 11,00,0000 by unauthorized way.
Director doing mismanagement in the company. Now he is giving legal notice to company cessation his directorship and file Form-32. But he is not ready to sell his share and do settlement with company.
Please give advice and how and where to file the suit?