People,
I may have a recovery notice coming from one of the companies in India for something that I did not commit and I need your advice for the same. Let's name this company -> A. And let's name my company -> B.
My company B had an agreement with company A which was terminated by company A without assigning any reason. The agreement lasted for about 5 years.
So the company A could file a notice for recovery on company B to the tune of 75 lakhs.
Company B has some contracts that are running which are not related to company A at all. Now I need advice from you guys, just in case if the worst comes to worst, to not pay a single penny to this company.
Is there a way out to prepare for this event in advance like restructure the company, redirect the funds or do something else with my company B such that the existing contracts remain intact and even if the company A files for recovery, we should be able to legally say that we are bankrupt or something. Is there a way out?
I'll try to answer any and all questions that you guys may have in a manner that does not disclose my identity to get out of this mess.
Thank you for understanding.
