A case of Criminal Act in the Dilution of Shares
The writer now is handling a Tort case which is under Cassation stage. Unfortunately…the second dilution was then committed by the Respondent without awating for the judment of judex juris as legality of:
A. Shares purchase
B. Shares Dilution
Therefore the cases become more complex. The defendant actually has to wait for the case inkracht before he committed the second dilution. There will be two.court judgment later namely on.the first Tort claim and the 2nd Illegal Dilution.
Dilution can only made by summoning Extraordinary Meeting of Shareholders and the Summon is to be acted by the lawfull President Director and the Law of 40 year 2007 must be strictly followed and the By Laws.
Be carefull of Shares Dilution. It may cause the Diluter becomes the majority shareholders without he ever stored extra investment to increase working capital of the company.
Criminal act may be involved in an illegal dilution as stipulated in art 266 of Penal Code.
Jkt 16.10.23
Henry Sitanggang
