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Twinkie, Lala and Dipsy are siblings. In order to secure the future of his brothers, Twinkie formed a company and carried out a family business.
Twinkie, Lala and Dipsy are siblings. In order to secure the future of his brothers, Twinkie formed a company and carried out a family business. All three of them became members and directors of the company. Prior to the company's incorporation, Twinkie ordered office furniture from Lulu. The furniture was later delivered to the company and Lulu claimed for payment. Lala and Dipsy refused to accept the delivery and asked Lulu to take back her furniture. Lulu was furious and insisted that the company is liable for payment. At the beginning of the company's business, Twinkie advanced an amount of RM25,000.00 to cover all the administration expenses of the company. After several years, the company's business grew rapidly. Twinkie wished to have his money back. Lala and Dipsy declined his request. According to them, the company is technically Twinkie's since he holds 85% of the total issued shares in the company. Twinkie on the other hand maintains his intention on incorporating a new company by his own. Twinkie would like to be the only member in his company. Analyze the above scenario based on the Companies Act 2016 , provide section and give a relevant case for support
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