Questions & Answers
Passing a resolution in an LLC company without informing a partner
Dear Madam,
What is the requirement to pass a special resolution in an L.L.C company?
My friend is a 24% partner in an L.L.C company and the other two partners are a local sponsor (51%) and a third-person (25%) shareholder.
Recently, they debited from my friend's account a huge amount on account of 50% rent for the last 13 years. To make this transaction, the local partner and the other 25% partner, who is the owner of the property, jointly passed a resolution for charging rent for the last 13 years without informing him in advance.
I would like to know: is this valid?
What are the requirements to pass a resolution in this type?
No one informed my friend in advance about this resolution. Is this resolution valid?
My friend is the affected party. What is the local company law saying?
Kindly reply!
Dear client,
Good day!
The way to pass a resolution is:
First, you need to call for a board meeting and put an agenda for the board meeting and a 15-day notice to be sent as per designated in the contract or the MOU or Memorandum.
The same way, a 15-day notice to be sent to all the parties to come in for a meeting. Either they can attend themselves or can attend by proxy.
Second, the majority of shareholders can pass a resolution. If the board resolution is passed, without you being intimated of any board meeting, you have the right to go to court and seek redressal of your grievance.
For further assistance, please feel free to contact us via phone or email.
Thank you!
