Jaiswal, in his grievance, has alleged that Mehta had promised buyback of fairness partnership however by no means fulfilled it.
“I had to approach the Gurgaon court, who ordered to file the FIR against Kalpesh Mehta under various sections of IPC for cheating and fraud including 420 amongst others,” Jaiswal mentioned.
According to Jaiswal, on June 5, 2015, Kalpesh Mehta gave provide to hitch him fulltime as minority accomplice to assist setup the Tribeca real estate growth enterprise.
“In the offer, Kalpesh Mehta promised of making me partner in Tribeca Creators LLP and giving minority equity of upto 5% (linked to various milestones) in Tribeca business along with the assurance to buy out such equity at the time of my exit from Tribeca,” the complainant mentioned.
Tribeca didn’t reply to the e-mail question.
Jaiswal mentioned that the enterprise began rising however regardless of requesting a number of instances, Mehta saved on delaying the guarantees he had made.
“In July 2019, I made a plea to Mehta to give me exit from the promised partnership in Tribeca business and honor the buyback commitment he was given in writing on June 5, 2015. The value of such 3% stake in Tribeca was estimated to be above Rs 30 crore based on market estimates. At first Mehta flatly refused to fulfil any of his commitment but later agreed to give Rs 7.5 crore against all claims. Such amount has been admitted in the draft agreement shared by email on Nov 21 by Mehta’s lawyer,” the complainant mentioned.
Jaiswal claimed, Mehta by no means gave him any cash, following which he needed to strategy court.