We signed a simple agreement: 50-50 co-founders.
However, the individual claimed that the project was never launched because the “crypto market fell off a cliff”. What allegedly followed next was a claim of ₹ 40 crore in “loss in revenue”. Adding backstory, the person continued, “Last year a common contact introduced me to a guy who wanted to ‘get into Web3.
I had a project nearly built: NFTs, a game concept, the whole thing. He puts in ₹ 6L as capital, I do literally everything else. Arbitration clause for disputes. No refund clause. No guaranteed returns. No timeline. Soon after, the inventor started asking about investments and ROI. He then demanded his investment be returned with interest. An individual asked, “Hey! I have one more question – clearly, no investor can sue a founder for loss of investment, even the dumbest ones refrain from that as startups are all risky endeavours, but can the op counter sue the claimant for filing such a frivolous case which has no grounds whatsoever on the grounds of the mental torment he is facing right now, or on the grounds of loss of reputation? If he can, should this course of action be taken by op or would it simply add to his misery?”
