Agreement not honoured
sunil
(Querist) 05 June 2014
This query is : Resolved
Sir,
A friend of mine had an agreement with a Private Limited Company on stamp paper but not registered, in which he invested rs. 20 lakhs and all area of Punjab was given to him. As per condition the if there was a direct sale from factory he would get an Over Ridding Commission ( O R C ) of 3 % other wise all small quantity sales was to be done by him as per companies price list which gave him around 5-7 % as margin.
Sir,In March End when my friend asked the company to give the O R C they did not give any also they stopped sending the material and started another distributor without terminating the agreement.
When my friend sent them legal notice they did not reply to them with in the time period.
Sir, now what action should be taken by my friend . Also can he complain in the Economic offense wing or Company law board,
Please help I would be highly obliged
Thanking you
S.N.
V R SHROFF
(Expert) 05 June 2014
Commercial Query: must engage Local Lawyer to do needful
Rajendra K Goyal
(Expert) 05 June 2014
Consult a local lawyer and show him all the documents.
Sankaranarayanan
(Expert) 05 June 2014
Consult local lawyer and show the document and act as per his advise
