Questions & Answers
Can a partner in a company sell his shares without another partner's consent?
Assalamu Alaikum
We are 4 partners in a business and one of the partners wants to sell his shares to two existing partners in the business without the consent of the 4th partner.
There is no provision made in the MoA regarding the sale/transfer of shares. So can this be done without violating any law in the UAE?
Thanks
Hello,
As per your query, please note that it depends on the percentage of shares owned by the 4th partner.
Also, during transfer there should be a resolution signed by all the partners, otherwise, the 4th partner can put a case in the court against the sale without his consent, even if he is a minor shareholder.
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Disclaimer- The above-referred view is not a legal opinion, these opinions cannot be challenged or presented before any court of law.
