Halka açık olmayan anonim şirketlerde rüçhan hakkı ile bu hakkın sınırlandırılması, kaldırılması ve engellenmesi

Abstract

Joint-stock companies require capital to fulfill their operational objectives. In a joint-stock company, the status of shareholders in the company, as well as most of their financial and administrative rights, are linked to their share's capital ratio. In the broadest sense, when a joint-stock company increases its capital to meet its financial needs, the most natural expectations of shareholders are to maintain their proportionate ownership and continue to benefit from their financial and administrative rights in the same manner. The realization of this expectation by the shareholders is possible by participating in the capital increase using their subscription rights. However, meeting the financial need that leads the company to increase its capital sometimes only becomes possible when shareholders partially or do not participate at all in the capital increase. Therefore, it is made possible for the general assembly to limit or remove the subscription rights of shareholders, and in the authorized capital system, for the authorized board of directors to do the same. To this end, there are material and formal elements that must be satisfied in the decision of the general assembly and the board of directors. Legal remedies are available for the shareholders to apply against the unlawful decision or act that prevents their subscription rights and to seek compensation for their damages. Joint-stock companies require capital to fulfill their operational objectives. In a joint-stock company, the status of shareholders in the company, as well as most of their financial and administrative rights, are linked to their share's capital ratio. In the broadest sense, when a joint-stock company increases its capital to meet its financial needs, the most natural expectations of shareholders are to maintain their proportionate ownership and continue to benefit from their financial and administrative rights in the same manner. The realization of this expectation by the shareholders is possible by participating in the capital increase using their subscription rights. However, meeting the financial need that leads the company to inJoint-stock companies require capital to fulfill their operational objectives. In a joint-stock company, the status of shareholders in the company, as well as most of their financial and administrative rights, are linked to their share's capital ratio. In the broadest sense, when a joint-stock company increases its capital to meet its financial needs, the most natural expectations of shareholders are to maintain their proportionate ownership and continue to benefit from their financial and administrative rights in the same manner. The realization of this expectation by the shareholders is possible by participating in the capital increase using their subscription rights. However, meeting the financial need that leads the company to increase its capital sometimes only becomes possible when shareholders partially or do not participate at all in the capital increase. Therefore, it is made possible for the general assembly to limit or remove the subscription rights of shareholders, and in the authorized capital system, for the authorized board of directors to do the same. To this end, there are material and formal elements that must be satisfied in the decision of the general assembly and the board of directors. Legal remedies are available for the shareholders to apply against the unlawful decision or act that prevents their subscription rights and to seek compensation for their damages. to apply against the unlawful decision or act that prevents their subscription rights and to seek compensation for their damages.Anonim şirketler faaliyet konusunu gerçekleştirmek için sermayeye ihtiyaç duyar. Anonim şirkette pay sahibi olan kişilerin şirketteki konumu, mali ve idari haklarının çoğu sermayedeki payları ile ilintilidir. Anonim şirket en geniş anlamda finansal ihtiyaçlarını karşılamak için sermayesini artırdığında, pay sahiplerinin en doğal beklentisi şirketteki konumunu korumak, mali ve idari haklarından aynı şekilde yararlanmaya devam edebilmektir. Pay sahiplerinin bu beklentisini gerçekleştirmesi sermaye artırımına rüçhan hakkını kullanarak katılabilmesi ile mümkün olur. Ne var ki, şirketi sermaye artırımına götüren finansal ihtiyacın karşılanabilmesi bazen ancak ve ancak pay sahiplerinin sermaye artırımına kısmen katılması veya hiç katılmaması ile mümkün olabilir. İşte bu nedenle genel kurulun, kayıtlı sermaye sisteminde ise yetkilendirilmiş yönetim kurulunun pay sahiplerinin rüçhan haklarını sınırlandırması veya kaldırması mümkün kılınmıştır. Bunun için genel kurulun ve yönetim kurulunun kararında tatmin edilmesi gereken maddi ve şekli unsurlar bulunmaktadır. Pay sahiplerinin de rüçhan haklarının hukuka aykırı bir kararla veya fiille engellenmesine karşı başvurabileceği ve zararının giderilmesini isteyebileceği hukuki çareler mevcuttur.