Company: KMRK
Filing Date: 2025-09-02
Form Type: DRS
Source: 0001213900-25-082986
Chunk: 70

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-09-02
Form: DRS
Chunk 70
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CA, the minority shareholders have a statutory right to bring a derivative action
in the name of and on behalf of the company in circumstances where a company has a cause of action against its directors. This remedy
is available at the discretion of the BVI court. A shareholder may also bring an action against the company for breach of duty owed to
him as a shareholder. A shareholder who considers that the affairs of the company have been, are being or likely to be, conducted in a
manner that is, or any act or acts of the company have been, or are, likely to be oppressive, unfairly discriminatory, or unfairly prejudicial
to him in that capacity, may apply to the BVI court for an order to remedy the situation.

There are common
law rights for the protection of shareholders that may be invoked, largely dependent on English common law. Under the general rule pursuant
to English common law known as the rule in Foss v. Harbottle, a court will generally refuse to interfere with the management of a company
at the insistence of a minority of its shareholders who express dissatisfaction with the conduct of the company’s affairs by the
majority or the Board. However, every shareholder is entitled to have the affairs of the company conducted properly according to BVI law
and the constitutional documents of the company. As such, if those who control the company have persistently disregarded the requirements
of the BVI law and the constitutional documents of the company, then the courts may grant relief. Generally, the areas in which the courts
will intervene are the following: (1) an act complained of which is outside the scope of the authorized business or is illegal or
not capable of ratification by the majority; (2) acts that constitute fraud on the minority where the wrongdoers control the company;
(3) acts that infringe or are about to infringe on the personal rights of the shareholders, such as the right to vote; and (4) where
the company has not complied with provisions requiring approval of a special or extraordinary majority of shareholders. This means that
even if shareholders were to sue us successfully, they may not be able to recover anything to make up for the losses suffered.

Under
the laws of the BVI, the rights of minority shareholders are protected by provisions of the BCA dealing with shareholder remedies
and other remedies available under common law (in tort or contractual remedies). The principal protection under statutory law is
that shareholders may bring an action to enforce the constitutional documents