Legal Threat from Startup Co Founder

Dear Sir,
At this initial stage itself you may lodge complaint against the persons who are threatening you and settle the claims atleast by taking postdated cheques.

Dear Client,
If the Company is registered under the Companies Act, 2013, then in the prevailing situation, when a dispute or difference between the Directors of the Company arises, any Director or all the affected Directors jointly can make an application to the Registrar of the Company for resolving the dispute between the directors through mediation. In general parlance, mediation means an intervention of some neutral third party in a dispute with the intention of resolving the dispute. Sec 442 of the Companies Act 2013 authorizes the Central Government to maintain a panel of experts to be called as mediation panel for the purpose of effectuating mediation between parties during any proceedings pending before the Central Government or NCLT or NCLAT. The Ministry of Corporate Affairs(MCA) notified the Companies (Mediation and Conciliation) Rules, 2016 which provides rules and guidelines for empanelment as Mediators or Conciliators. The Rules ensure that the Panel acts in good faith, by specifying certain ethics that should be followed by every member of the Panel, these include, upholding principles of natural justice towards the parties, especially by keeping in view of the relationship of faith that should be maintained throughout the proceedings. According to this provision, the parties to the dispute may voluntarily apply to the relevant authority i.e., Central Government, NCLT or NCLAT (as the case may be) to refer the matter to the Mediation Panel to facilitate the parties to arrive at an amicable settlement. The mediation process is cost-effective and less time-consuming when compared to adjudication before Courts, Tribunals or even arbitral tribunals. If the settlement does not arrive between the parties to the dispute then the panel may refer the matter back to the relevant authority for adjudication of the matter. You need to consult with a corporate lawyer for further guidance and steps.