Garg v. Venkataraman

In April 1983, plaintiff-appellant, Yogesh Garg, and defendant-appellee, Bala Venkataraman (“Bala”), entered into a buying group agreement (“BGA”) with defendants-appellees, William Martin and James Taggart, who were acting on their own behalf and on behalf of their family members who were shareholders. This agreement provided, inter alia, that Garg and Bala would purchase fifty-one percent of the shares of Magni-Power Company in order to qualify the corporation for minority business enterprise (“MBE”) status, and further provided that Garg and Bala would acquire all of the shares of the…