Legal Question in Business Law in India

Possibility of filing a Lawsuite against Partner
Mercury,specialized company in a product Mercury OS based in US partnered with my company (RIT) to start a company called Mercury Partner Pvt Ltd (MPPL).--name removed--IT holds 90% shares of MPPL. MPPL, the sole distributor in the country has put great efforts (built a competent team). Today MPPL became a leader in the market. MPPL has been doing really well in the market with a strong team, long-term customers and a very good market share. One fine day, Mercury has changed their philosophy to own the distribution network worldwide and wanted to acquire MPPL. Both Mercury and RIT had heavy negotiations for about an year. When the price quoted did not match the expectations of Mercury, it got non-exclusive agreement signed by RIT (RIT was kept under pressure to lose the complete distributorship). Mercury then established its own unit and fished out the entire team of MPPL including the senior management, technical experts and software developers.Now RIT is left with nothing, as it lost its employees, it needs to lose its trade name and all its contacts. What can we do at this time? When an existing joint venture with MPPL is in place, can a foreign company establish another company in the samefield asit amounts to conflictininters

Asked on 12/11/07, 5:14 am

G. M. Gupta gmguptaandassociates

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Re: Possibility of filing a Lawsuite against Partner

nothing can be said without going through ur contracts and agreements.

Answered on 12/14/07, 11:55 am

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