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My investor failed to invest said amount as per contract
06-Nov-2023 (In Corporate Law)
Hi there
I had a contract with a person to invest a said amount into the company on a share basis. Unfortunately they were able to invest only 1. 44% of the total amount in part payments, & the 2nd time they did a 20%.
As am the main person to handle all technical works, am facing huge financial problem with the company as rent and other expenses all are in debt.
additionally they have taken the more % of amount from the revenue and was demanding for even more.
Could you please guide me what the step to be taken further
Thank you so much in advance
Hi
Since the investor had failed to bring in capital as per previous agreed terms and have also taken a share of revenue Without fulfilling their part of contract, you can sue them for specific performance or claim damages and compensation in the civil court having jurisdiction
Since the investor had failed to bring in capital as per previous agreed terms and have also taken a share of revenue Without fulfilling their part of contract, you can sue them for specific performance or claim damages and compensation in the civil court having jurisdiction
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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