Company: GRAN
Filing Date: 2025-03-14
Form Type: F-1/A
Source: 0001213900-25-023979
Chunk: 208

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: F-1/A
Chunk 208
---
 likely to be oppressive, unfairly discriminatory or unfairly prejudicial to him in that capacity, can apply to the court under Section 184I of the BVI Act, inter alia, for an order that his shares be acquired, that he be provided compensation, that the British Virgin Islands Court regulate the future conduct of the Company, or that any decision of the Company which contravenes the BVI Act or our Amended and Restated Memorandum and Articles of Association be set aside. Derivative actions Section 184C of the BVI Act provides that a shareholder of a company may, with the leave of the Court, bring an action in the name of the Company in certain circumstances to redress any wrong done to it. Such actions are known as derivative actions. The BVI Court may only grant permission to bring a derivative action where the Court is satisfied that: •the Company does not intend to bring, diligently continue or defend or discontinue proceedings; and •it is in the interests of the Company that the conduct of the proceedings not be left to the directors or to the determination of the shareholders as a whole. When considering whether to grant leave, the British Virgin Islands Court is also required to have regard to the following matters: •whether the shareholder is acting in good faith; •whether a derivative action is in the Company’s best interests, taking into account the directors’ views on commercial matters; •whether the action is likely to proceed; •the costs of the proceedings in relation to the relief likely to be obtained; and •whether an alternative remedy is available. 126 Just and equitable winding up In addition to the statutory remedies outlined above, shareholders can also petition the BVI Court for the winding up of a company under the BVI Insolvency Act, 2003 (as amended) for the appointment of a liquidator to liquidate the Company and the court may appoint a liquidator for the Company if it is of the opinion that it is just and equitable for the court to so order. Save in exceptional circumstances, this remedy is generally only available where the Company has been operated as a quasi -partnershipand trust and confidence between the partners has broken down. Indemnification of directors and executive officers and limitation of liability British Virgin Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the British Virgin Islands courts to be contrary to public policy, such as to provide indemnification against civil