Yes. The company was in the process of winding. We could not proceed becuase there is a case pending. We had a company lawyer and a very good accountant firm who were doing the right things from the begining. We have all the papers and how the money is spent. The VC's director was also on the board.
Unfortunately I can not share the case number. If you read this I can assure you that your jaw will drop. I was in a state of shock for several week after reading the case. My friends argued with me saying that this can not happen until I showed them the real case paper.
I am fine if they put a civil case. I have no problem with it.
The way they did is like this. They send 5 registered letters to old office address. Naturally it went back. They put a case saying that we are absconding with money. There are also other thing they added (it will be funny if read it). They also said we did fraud.
This is how they made it criminal.
The VC or shareholer has right to sue. But not by framing us like they did. That is the problem.
