Legal Question in Business Law in India

me and my partner entered into an agreement for import business. I was pushing on completing the paperwork and licensing procedure first but he insisted that i should invest the money right away and he'd import the goods in the name of his firm which was already in the impex business. so my father who was the financier paid a large sum of money as my partners were our relatives.

After the payment , there were many problems with communication. they had promised that the goods will come to india, and sold withing 2 months and the money will be recovered.

The goods came after a year and half. we were cited many laughable reasons for the delay. Despite of asking again and again we were not provided with any invoice, or any company details ( exporter company), the products were imported in their name, they kept us in dark about everything, and even advertised the product on their firm's name. our partnership agreement has the no compete clause.

Now when we ask for the money, they behave indecently and tell us that they will pay us after the products are sold and what not. Repeatedly failing to meet the deadlines given by themselves! i have whatsapp and text msgs to prove the whole story very clearly. How do i recover my money with interest (coz we have been paying the interest on this money as we had taken a loan and 18% is also agreed in our partnership deed)?

i have already sent them a mail regarding this. explaining how they've kept me out of the process and mosappropriated the money. and also have asked them to pay in 10 days.


Asked on 3/04/15, 3:39 am

1 Answer from Attorneys

you have evidence of payment to your partner like cheques oo rtgs or witness.then you have file case criminal and civil case.thank you

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Answered on 3/10/15, 4:46 am


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