A company, "Mercury", specialized in a software product based in US partnered with my company Ray IT (RIT) to start a company called Mercury Partner Pvt Ltd (MPPL). Ray IT holds 90% shares of MPPL. MPPL, the sole distributor in the country has put great efforts to build a competent team and gradually established its presence in the market. Today MPPL became a leader in the market in the said technology. MPPL has been doing really well in the market with a strong team, long-term customers and a very good market share. One fine day, Mercury has changed their philosophy to own the distribution network worldwide and wanted to acquire MPPL. Both Mercury and RIT had heavy negotiations for about an year. When the price quoted did not match the expectations of Mercury, it got non-exclusive agreement signed by RIT (RIT was kept under pressure to lose the complete distributorship). Mercury then established its own unit and fished out the entire team of MPPL including the senior management, technical experts and software developers. Now RIT is left with nothing, as it lost its employees, it needs to lose its name MPPL (as it can not use the trade name) and all its contacts. Mercury still has its 10% shares. They still wants the business from us, since we are the trusted vendors for many clients, so, they wanted to make us resellers with very meager margins.
Mercury says, all MPPL employees deliberately came to them but they forced everyone and offered fat salaries as a bait. Can't we do anything? Mercury has lot of pressure on me and my son (who manages one of the department). I actually got mild heart attack one day and was admitted into hospital. My family is torn apart and we are completed frustrated with life. They promised that they will pay a fair deal as a compensation for the hardwork we have put all these years. But now they have taken away everything from us by fraud without paying a single pie and now they are even refusing to talk about what was originally agreed. Since the original agreement signed with them is in their jurisdiction, can we file a law suit against the company in their country?