Questions & Answers
Fraudulent changing of the manager and appropriation of shares
Salam Alaikum,
I need your help to solve my issue. We have started one tourism company in Sharjah Media City free zone in Jan 2018. I was a 20% shareholder.
But in the month of Nov, my other partner came and asked me to remove my name as a manager from the license because he has some money in KSA and will bring to Dubai and then through this company will transfer to Japan.
He will remove my name from the bank and then he can do this. I agreed verbally. But now I came to know that he transferred my shares to his name. But still, I am receiving the du bills under my name.
The guarantee cheques issued under my signature. We are operating a cruise in Deira. The contract is under my name. for the last 1 year, I have not received any money for my shares.
Immigration card still has my name. 2 days ago, one guy from that partner filed a complaint in Naif Police that I am not the partner and they want me not to come to the cruise.
The cruise agreement is under my name and company name with my signature. Kindly help me in this regard.
Dear Sir/Madam,
I hope you are doing great!
Regarding your question above, I want to inform you that:
First of all, the tourism company which you have mentioned above is established according to the FZ Law whereas you are holding 20% of shares on it.
And as you said you are a manager in the company, so the other party can not change on the company or sell your shares to himself without your prior written consent.
Secondly, you should provide us with the MOA, shares agreement, and the authorities of the manager of the company according to the previous documents.
If the other partner takes any procedures against the conditions which you agreed, you can make the objection against it before the court.
Before we provide you with any legal advice, you should provide us with the above-mentioned documents to review it and provide our legal opinion to you.
For the confidentiality purposes, you can send the documents to us on this email: info@ajlc.ae or call me directly or by WhatsApp on this No. +971509043085.
Regards,
Abdulhameed Aljasmi
