I am a founding partner and technical director (Executive Director) of a startup based out of Bangalore (which started in early 2010). Initially the stack pattern was 33% each of 3 directors. One was working outside in some organization and two of us were managing the company. I have done a great work in this company to bring it to a level where it could have sustained by itself. Both of my other partners were friends of me and I respected each one personally. But this respect and hardwork of mine went in vein - they brought investment from their family members and friends and diluted our stack to 16% each. This investment was brought in without my full consent too (I have proofs of sending emails not agreeing for bringing investment).
Even after these investments,they never invested the investment into right channels like marketing team building etc and started forcing me to do marketing (I am technical person) which I did to get the company out of it financial crisis. But they started adamant approaches like not conducting board meetings, ignoring my suggestions, acting unilaterally etc. Which is when I revolted against their mis-management and I resigned to the post (through an Email).
But they didn't accept my Resignation siting reasons like I need to work to get the company to profit and all. But I was not in a position to accept their proposal as I knew that single man's army can't win the battle of getting company to profitable condition. So I struck to my decision and fought for my resignation acceptance. Since they, their family/friends are major stake holders now, they are not even putting the resignation into board meetings (frankly I don't know even they have conducted one for last 2 years) and blocking me.
Also it is more than a year now since I drew salary last time from that company. I shifted to different location to avoid high living cost (no salary was given or I drawn from that company for more than a year now). Even during these days of last one year, I have supported the customers of that company as I only sold the product to them (on ethical grounds). Even after 1 year without salary and remote relocation, they are not ready to give me the exit letters or letting me go out.
I am planning to join some company as an employee which is a necessity in the times of my deep financial problems. Please let me know how can I exit from the Managing Director of the company (with or without my stake - I don't care) without their consent too.
Thanks for your advice in advance..
13th May 2014 From India, Mysore
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