Share holders powers

[datathomas]

What powers do the thai (together majority) share holders have over a company?

If the MD's are not direct share holders can they be replaced by the Thai majority.

Is it possible for the thai majority to report abuse of the company to the tax office and DBD?

Can the majority demand their share of the company's assets. Even if the shares were given to them at the startup of the company.

What can a MD do against thai shareholders? Can they be replaced without notice?

Many questions but all so important

[Maestro]

It all depends on what is written in the company's Articles of Association.

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

[Sunbelt Asia]

Shareholders can vote to elect and nominate director(s) to work for the best of the company interest, it will depend on the company's by-laws in governing the minimum requirement for the percentage of the bot for the company's resolution. The Managing Director could be replaced by a majority vote in a shareholder's meeting. Company assets are not personal property but that of a the company, it would require a majority shareholder vote to propose any liquidation and the director would need to act in accordance with the outcome of the vote.

Shares are personal property and a Managing Director will not be able to replace shareholders as the shareholders own the shares privately. Shareholders are, in fact, co-owners of the company while a non-shareholding Managing Director is more like an authorized representative of the shareholders in managing and acting on behalf of the company.

Finally, if shareholders suspect some fraud or abuse then they would file a criminal complaint with the police, the DBD does not investigate this kind of act.

[sunbeltlegal][/sunbeltlegal]