REO Capital Enters Lawsuit Aganist Redclays Capital for Breach of Contract
Srini Chakwal, the CEO of Redclays Capital, has agreed and signed a Contract with REO Capital, a Capital Introduction Firm to raise $100 Million dollars for their Private Equity India Fund.
Online, March 9, 2013 (Newswire.com) - REO Capital Enters Lawsuit Against Redclays Capital for Breach of Contract
Srini Chakwal, the Founder and CEO of Redclays Capital, with experience in Private Equity Markets in India, has agreed and signed a Contract with REO Capital, a Capital Introduction Firm to raise $100 Million dollars for their Private Equity India Fund and agreed to pay REO Capital $420,000 in Retainer Fees plus a 2% Success Fee equaling $2,000,000 for a total fee of $2,420,000 to have REO Capital bring Institutional Clients to invest in their Redclays Capital Private Equity Fund in lower to middle market companies in India on February 7th, 2013.
On February 15th, 2013 Srini Chakwal of Redclays Capital had agreed to wire transfer the required Fees for the Capital Raise on his PE fund. By February 26th, 2013 Srini Chakwal of Redclays Capital had "Breached the Contract" with REO Capital by failing to abide by the terms of the REO Capital Contract! As of March 7th, 2013 Redcalys Capital has not submitted anything or abided by any part of the REO Capital Contract he signed and obligated himself with REO Capital, LLC.
A Lawsuit is being Filed by REO Capital, LLC in India which is Redclays Capital Headquarters, along within California in the United States where Redclays employs representatives as well. For any Institutional investors considering Investing in Redclays Capital Private Equity Fund, be aware when conducting your Due Diligence on this firm that this firm is in Default of our Contract and has Breached the Contract and Legal Proceedings are pending against them!!! These Legal Proceedings clearly demonstrates a lack of professionalism, credibility & ethics that Institutional Investors should consider before Investing in this Redclays Capital Private Equity India Fund, due to it's unethical, and unprofessional practices of this PE Fund. This Breach of Contract with REO Capital does not institute Trust with Future Investors in the fund! If Redclays Capital can not honor the contract from the Capital Raising firm that is bringing institutional investors to the fund, then it leads you to wonder whether Redclays Capital can be ethical with the investors over a 5 year lock-up period once those investors are in the fund? "Caveat Emptor"
Feel free to contact me with any questions on this matter.
John Denes
CEO
REO Capital, LLC
johndenes at reocapitalllc.com
248-313-9966