Menlo Park Saga: How the MIC Refused the Full Refund of Rs 45 Million

The dispute between the Mauritius Investment Corporation (MIC) and Menlo Park Ltd has taken an unexpected turn. On July 7, the MIC, represented by Attorney Zaheera Sassa-Nooraully, formally demanded that Menlo Park refund Rs 45 million, the total amount invested in exchange for a 9.9% stake in the company. This request was based on the Put Option outlined in the Share Subscription Agreement (SSA), after the MIC concluded that there were contractual breaches.