Closure of Franchsie agreement
We had entered into a Franchise business with a company under proper franchise agreements but subsequent to all payments from our side, the company started to show its colour i.e it inordinately delayed the supply of material initially and going froward it did not adhere to not one sigle agreed term of the agreement, consequently we started to run into negative. Same was the case with all the other franchisees. Even before one year, the company itself offered to close the franchise and we accepted. We entered into a franchise closure agreement on a 100/- stamp paper wherein the company director agreed to clear all our dues from the company into two installments ie first before 29th Feb 2016 and the second before 31st March 2016. Now he does not take our calls nor respond to our emails or messages. He only keeps postponing the payments through the local representative. As per the franchsie closure agreeemtn he agreed to be charged civil and criminal proceedings if he does not adhere to the promised payments. What do we do. Please advise us.