quesDisappearing the merger?

We had sold our company to a BSE listed firm and at the time of takeover they valuated our company for 3.9 cr and gave us 20 lakhs, cash and the remaining 3.7cr in shares. After three months they raised their paid up capital and causing our shares to fall by 70% and when asked they said they will issue shares to compensate the same. Now they have neither done that, but have terribly handled the show, I wish to get my company back as I am feeling cheated, no business and hence shares are falling and we are getting the shares phase by phase over 5 years locking. Suggest how I can disappear the merger?

  • ansMake complaint to the High Court based on evidences you have on hand making these ground for not going ahead with the deal. Making similar complaint to the ROC and SEBI, you would also have to refer to the stock purchase agreement including the MOU and hunt for clauses which prohibits causing losses to either party; provided, in the first place, you have taken care to include such clauses protecting your interest.

    The deal period within which the legal formalities would be completed and the riders, in case if it's not completed. Provision specifically giving you an exit option in case of not adhering to the deal documents. These are the general procedure to be followed as I do not have the underlying contracts to verify the provisions that can empower you to terminate the deal, albeit it might be time consuming as it is court driven.

  • Related Articles

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Labour & Service Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Labour & Service lawyers in India

Similar questions

Free Legal Advice - Labour & Service
Free Legal Advice - Labour & Service

Labour & Service Lawyers

Advocate Wg Cdr Ajit Kakkar (Retd)

 Experience: 16 years

Advocate Vishal V Birajdar

  Andheri West
 Experience: 10 years

Advocate Sunil Dalal

  New Friends Colony
 Experience: 19 years

Advocate Madhur Gulshan Sapra

  Tis Hazari Court
 Experience: 13 years

View all >>

How it Works

Know how LawRato makes legal easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly