Jasmine is an investor in TechLink Solutions Ltd. She holds a 30% share in the listed software company, which was, until recently, doing very well. 

The company has four directors: Sana, Malik, Aisha, and Ravi. 

Aisha Purchased high tech office build $12 Million  with 15% interest per annum.

 

 

Sena is the managing director. 

 

Malik, a close friend of Sana 

Ravi, the founder of TechLink Solutions 

profits have dropped by almost 70%, over the past 24 months. Jasmine has uncovered undisclosed expenditures and approximately $8 million in accumulated debt. 

Aisha is the managing director and majority shareholder of other tech company which Jasmine just discovered.

Jasmine also discovered they had booked 5-star hotel accommodation costing $750,000 for vacation. contract has the signature of all four directors. 

suspicious email exchange between Sana, Aisha and Malik discussing the trip and advising not to disclose to Ravi. 

profits have dropped by almost 70%, over the past 24 months. Jasmine has uncovered undisclosed expenditures and approximately $8 million in accumulated debt.

The acquisition of 25 cutting-edge software licenses for a new product launch, which turned out to be incompatible with TechLink Solutions' existing systems. The licenses caused repeated system crashes, leading to significant financial losses and customer dissatisfaction. Sana attributes this decision to Ravi, stating that as the founder, they trusted his judgment regarding the compatibility of the licenses. Malik and Aisha second this position, stating that "they always go along with Ravi's recommendations when it comes to technology". The replacement cost for the licenses and system repairs is estimated to be around $250,000. 

 

 Using corporation act Australia 

Based on the above scenario, Jasmine seeks advice regarding the potential liability of Sana and the other directors for each of the discoveries mentioned. 

What actions and remedies may be possible for Jasmine in these circumstances? 

Answer rating: 100% (QA)

1 In the given scenario the potential liability of the directors can be analyzed as follows Sana As the managing director Sana could be held liable fo... View the full answer