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India equity issuance dispute

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  • India equity issuance dispute

    My Question: I was employee of Company 123 in india working for Company678\'s project. I was issued 5% equity of class B (Company678, a US LLC) for the good effort after few months of my association with Company 123. The only document issued to me was a certificate duly signed (with LLC registration number,also stating my permanent address and my passport number) stating that i have 5% class B equity in Company 678 with 1/3 vested at the time of issue and another 1/3 vested after one year. i have worked so far for 18 months with them. one month back they have asked me to leave Company 123 without any notice period and without stating any reason. Now they say the equity i own is no longer valid as it is not per the agreement (in fact there was no agreement shown to me at any point of time). Plz guide me as i agreed to work on much lower salary as they offered me equity too. how can i take legal system\'s help to pay my due salary and notice period amount and money in exchange of equity i own. Company 123 is already sold to some bigger group in India--

  • #2
    Re: India equity issuance dispute

    Hi, wld lawyers have emailed you privately.


    • #3
      Re: India equity issuance dispute

      I wish to inform you that you may issue a written notice to the employer. If they fail to resolve the matter, then you may file a complaint with the Company Law Board. You may provide all the evidence which supports your view point - letters, emails, etc. to the Company Law Board. The Company Law Board will consider all the facts and decide the matter.



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