1.0 SECTION 181 APPLICANTS WHO ARE ELIGIBLE TO CLAIM REMEDIES
The world today shows a lot of people make investments to increase their wealth by purchasing debentures of the company and its shareholders. However, most of the shareholders and debenture have little access or do not have access to the company's management did not like shareholders or debenture holders who have the composition of the Board of Directors or the directors themselves. Therefore, there is ignorance of the shareholders or debenture holders are not included in the power center in the behavior of the majority component of the company or the management of their powers in a manner oppressive. In an effort to protect minorities, Section 181 of the Companies Act entitles the minority for the oppression remedy claims.
1.1.1 Who is eligible
According to Companies Act …show more content…
Bhd, a wholly Kong Thai Sawmills owned by six siblings. One of them, namely Beng Ling Sung holds a 2.5 percent stake in the company. While Beng Beng Siew Siong and hold shares amounting to 63.5 percent. Beng Siew is the chairman of the board of directors and Beng Siong is a director of the company. Sung Beng Ling is a former director of the company. In this case, Ling Beng Sung had made allegations against the two brothers and Beng Beng Siew Siong and companies on the grounds of oppressiveness against her. Among the allegations of bullying are:
i) Loans to Aaron Ariffin, State Secretary is not approved by minority ii) purchase and renovation of the ship by the company does not benefit the minority iii) Donations issued for a particular political party not approved by minority iv) withdrawal by the company and Beng Beng Siew Siong is a misuse of company funds and
v) Advances and investments in joint ventures.
Held:
The Court decided that the only issue (iv) are shown oppressiveness, which is when the money spent to kepetingan own company and not the interests of the
The world today shows a lot of people make investments to increase their wealth by purchasing debentures of the company and its shareholders. However, most of the shareholders and debenture have little access or do not have access to the company's management did not like shareholders or debenture holders who have the composition of the Board of Directors or the directors themselves. Therefore, there is ignorance of the shareholders or debenture holders are not included in the power center in the behavior of the majority component of the company or the management of their powers in a manner oppressive. In an effort to protect minorities, Section 181 of the Companies Act entitles the minority for the oppression remedy claims.
1.1.1 Who is eligible
According to Companies Act …show more content…
Bhd, a wholly Kong Thai Sawmills owned by six siblings. One of them, namely Beng Ling Sung holds a 2.5 percent stake in the company. While Beng Beng Siew Siong and hold shares amounting to 63.5 percent. Beng Siew is the chairman of the board of directors and Beng Siong is a director of the company. Sung Beng Ling is a former director of the company. In this case, Ling Beng Sung had made allegations against the two brothers and Beng Beng Siew Siong and companies on the grounds of oppressiveness against her. Among the allegations of bullying are:
i) Loans to Aaron Ariffin, State Secretary is not approved by minority ii) purchase and renovation of the ship by the company does not benefit the minority iii) Donations issued for a particular political party not approved by minority iv) withdrawal by the company and Beng Beng Siew Siong is a misuse of company funds and
v) Advances and investments in joint ventures.
Held:
The Court decided that the only issue (iv) are shown oppressiveness, which is when the money spent to kepetingan own company and not the interests of the