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Termination of employee agreement within locking period
08-May-2023 (In Labour & Service Law)
I went in business agreement with one of the private limited company with locking period of 2 years. But within few months of the agreement only that company has terminated the contract. And now they are not ready to pay penalty which is mentioned in the agreement. Could you let me know the fastest way to get my money from them.
This is my response to you:
1. You must issue a legal notice to them (hope you have already done that);
2. Make sure your demands were very clear in the notice, give them 15 days and also ask for compensation for the monetary and mental loss caused to you;
3. Next step is to see if they want to negotiate on the dispute, i.e. offer you a settlement which will be a out of court settlement;
4. The last option left to you is to file a recovery suit in the court;
In addition, this my suggestion to you:
1. Collect all evidences in your favour, including oral and written evidences;
2. Also try to engage a local lawyer who would help you step by step, even if it is negotiation process;
3. If there is arbitration clause, which is generally present in the business agreements, approach the High Court to appoint an arbitrator to resolve the dispute.
1. You must issue a legal notice to them (hope you have already done that);
2. Make sure your demands were very clear in the notice, give them 15 days and also ask for compensation for the monetary and mental loss caused to you;
3. Next step is to see if they want to negotiate on the dispute, i.e. offer you a settlement which will be a out of court settlement;
4. The last option left to you is to file a recovery suit in the court;
In addition, this my suggestion to you:
1. Collect all evidences in your favour, including oral and written evidences;
2. Also try to engage a local lawyer who would help you step by step, even if it is negotiation process;
3. If there is arbitration clause, which is generally present in the business agreements, approach the High Court to appoint an arbitrator to resolve the dispute.
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Adv. Gowaal Padavi
Mumbai | 500+ Answers
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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 Divorce Lawyers at lawrato.com to address the specific facts and details.
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