Private Limited Company
I registered an LLC and made one of my friends a director and gave them some little percentage of shares (mostly out of love & also because the agent registering the company then, kept pushing me to send names, saying i can remove them later). Now, i found out the person was really not a good friend & i want to take back the shares. As a matter of fact, i have not done anything with the company because of this sole reason. Please how do i go about it? Thanks
Answered 11 months ago
You are not trapped as the law allows a director of a company to be removed albeit through lawful means. The CTC of your incorporation documents would then need to be updated by notifying CAC with the requisite documents as the circumstances deserve.
You may also have a talk with the director you wish to remove to decipher his disposition. If you think there would be a serious uproar in the future, you may apply to close down the present company since you have not commenced business and register a new company.