- This topic has 13 replies, 6 voices, and was last updated 1 year, 3 months ago by
.
-
Posts
-
-
UMe and my friend got into a business of trading home cleaning supplies , as I had a proprietorship firm in my wife’s name , we decided to do business in that only , he had invested about 5 lakhs in over a year’s time , and I had also invested similar amount , first few months were okay and we got some profit and we split the share inbetween us , after a few months one of our biggest customer returned our product because he was closing down , and we were in no position to pay our supplier for the same , and due to inventory mis management a lot of the supplies got lost,stolen and damaged and were not in any usable condition , now the friend seeing all this , wants to get out of the business and is asking me to return all of his 5 lakhs amount , I told him how can I return , I also lost my investment as well , now he’s threatening to file a cheating complaint on me and my wife and telling he will take us to court , what can be done? And how far will this stand in the court? , I told him I didn’t give him any guarantee that I will refund any money nor that this is a loan of any kind , I still told him I will try to pay you back little by little evey month but he is like no , clear it in 2-3 months and pay out evrything , I said it’s not possible from my side , hea threatening for legal action , what is the solution for this all?
-
KTell him you invested in a business and business are the epitome of risks. He took a risk and that risk resulted in a loss. I think the same can be your argument in court
-
UHe is saying that he gave me the money to get profit , but because now there is loss , he wants his money back and threatening for legal action on basis of some fraud
-
SDo you have evidence that you two specifically entered business? Investing in a business automatically means you take on both profit _and_ loss. Otherwise there’s fixed deposits.
Gather as much evidence of your dealings as you can. How did you two agree upon the business, verbally? Bank statements for profit/loss that corroborates no cheating happened.
Meet up with local police station in whose jurisdiction he’s most likely to file so you can get a word immediately when he does (you might have to bribe them). Get a lawyer involved who’ll make sure the investigating officer isn’t being partial to him (again, you might have bribe him), and including your side of the evidences in the case file.
If you do things right it should be an open and shut case, even if it reaches the court. Otherwise most likely the police will try to get you two to negotiate and settle out of court. If you’re lucky they’ll make sure he gets very little to nothing.
But yeah, don’t expect everything to just fall in place. You need to be just as aggressive in defending yourself as he is in implicating you.
-
UThis whole police station and court thing scares me a bit and I would prefer not to involve myself in this , police can swing anyway depending upon who is offering how much and I don’t really have a lot of money to put up bribes , because I’m trying to rebuild my income sources as of now , he is telling he will send court summons and all ,
There is no agreement or anything in which I said there is 100% guarantee of profit or anything , there is just WhatsApp chats of our business dealings that’s about it.
What happens if I just don’t respond to him?
-
-
-
-
-
UNAL
File a case of theft & cheating. Show that it was him who stole the goods & now when he is caught, he wants to exit & threatening with false cases
-
-
MUnless there’s a legal agreement or a written/verbal statements made that you’d make him profits by taking his investment, you are good.
If no such documentation exists, ask him to go to hell. Infact, threaten him back saying that you’ll file a case of harassment.
-
UThere is no guarantee of that in any manner , but there is business dealings we have done through whatsap chat , that’s about it
He is saying he will send summons from court and is saying that he will have the police guys pick me up
-
MAsk him to go to hell. There’s no legal basis to what he’s doing. If he involves the police, you hire a lawyer.
But if you ask me, these are all scare tactics. Everyone knows the risks of business investment. Unless and until you have cheated him off his money, there’s literally nothing he can do.
-
UThat’s what he said he is going to say in court for cheating or fraud , I’m not sure what to do about that , he said his lawyers will send notice and all that
But this was not a loan or any kind of guranteed investment or whatever , I have lent money to few of my acquaintances previously and haven’t gotten it back , it’s not like I can put a cheating case on them
Scare tactics yes , but what can be the worse case scenario for me and how do I prepare do deal with it?
-
-
-
-
Udon’t get scared, you don’t owe him anything, you don’t have to return him anything. he is an adult who invested in his business.
-
-
