Easy parking Pty Ltd was set up to acquire land to establish a permanent parking village for owners of small houses. The shareholders are a group of wealthy self funded retirees. The directors of the company are former bank manager, Ravi patel and former actor, Sangeeta Gurung. The company acquired a large of land in the rural victoria but after five year, was unable to obtain permission from local council to develop the site as intended. The Company sell the land for slightly more than the purchase price. Rony and Rachel as shareholders are very upset as they think that the land should have been sold for a higher price. They also believe that rumours the land has been sold to another company owned by Ravi and Sangeeta. 

Advise Rony and Rachel about what rights they might have under the corporation Act 2001.

Answer rating: 100% (QA)

The question requires interpretation of the Corporations Act 2001 of Australia Although its not a ma... View the full answer