We have a signed engagement contract with a client to syndicate loan funding. When we got the loan sanctioned and disbursed, the client is refusing to pay with an intention to bargain down the fee by as low as 1/3rd of the fee due to us as per signed engagement contract.
This is a total blackmail and unethical as the company is listed on BSE and is trying to exploit a small professional services firm. I would like to know what recourse can we have to recover:
a) Our fee and
b) any legal costs which we'll have to incur to recover it.