Business & company › Shareholder & director disputes
Want to exit the company and get fair value
What usually matters in this situation, and the papers to keep ready before you meet an advocate or free legal aid (call 15100).
Make my own list — free, 2 minutesYour situation
- What has happened? I want to exit / be bought out
Do these now
- MCA filings: director appointments/resignations, allotments, charges, annual returns
Shows unauthorised changes and their dates. Where: MCA portal (view public documents).
Papers to gather
- Memorandum and Articles of Association (current version)
Sets transfer, appointment and meeting rules. Where: MCA portal (public documents). - Share certificates, register of members extract, cap table, allotment filings
Proves your stake and any dilution. Where: Company, MCA filings (allotment returns). - Founder messages and emails about roles, equity and exits
Fills gaps where nothing was signed. Where: Email, Slack, WhatsApp. - Latest valuation reports and funding round documents
Needed for any buy-out. Where: Company, investors.
You may also need, depending on your answers
- Shareholders' / founders' agreement and term sheets — Often decides exit, vesting and deadlock.
What the law says
Oppression and mismanagement cases go to the National Company Law Tribunal (NCLT). Members generally need at least 10% of shares (or 100 members), though the Tribunal can waive this. Shareholders' agreements often add arbitration.
General information, not legal advice.
Saboot will also ask
- What is your position?
- What percentage of the shares do you hold?
- Is there a shareholders' or founders' agreement?
Similar situations
- Removed as a director from my own company
- My shareholding diluted without my consent
- Co-founder taking company money
- Not being shown company accounts
- Board deadlock between founders
Sources
- Companies Act, 2013
The full guide: Dispute with co-founders, shareholders or directors of my company · All situations