Hello everyone!
There is an issue:
A company was looking for super stockists, distributors, in different states and cities for their new electronic products and had approached X and other investors. X invested approx rs. 40 lacs against stock provided by the company.
Later on the company failed to provide after sales services and Product branding and marketing.
Then it was mutually decided amongst all the investors super stockists and company that company will take all its product and return the amount.
Now even after a lapse of more than 2 years and several requests made by X and others the company is seeking time and compelling all super stockists to invest in new business with them. The same offer was refused by X even then the company is not ready to return the Blocked amount to the tune of 10 lacs.
X is not looking for any arbitration.
What recourses "X" has n also what remedies he has in NCLT ?
