Made agreement for assured business and now turned out of the commitment of agreement.
In June 2022 I did an agreement of business with a company based at Mumbai, Maharashtra for assembly of electric two wheelers. Initially the company took around Rs. 6500000/- ( Rupees Sixty five lakhs) towards raw materials and Rs. 500000/- (Rupees Five Lakh) towards security deposit. In the agreement the company has made promise of buy back of assembled vehicles with in 45 days.
But at present day the company neither supplied the full consignment of raw materials nor refunded the money deposited with them. As per the agreement the company promised me to do the buy back of all assembled vehicles with in 45 days of assembly. But they did not adhere to the agreed condition of buy back. Even they have taken 29 assembled vehicles from my unit around two months back but till they did not made the payment for the same.
Now I want close down the unit as I am paying Rs.50000/- (Rupees Fifty thousands) rent per month, and there is no sales or supports from the company side.
But now the company is not willing to take back the materials from my unit, and not willing to refund back my invested money .
Kindly advise what to do and how to get back my money.