Legal Question in Business Law in India

I had invested Rs 2.20 lacs in Mar'13 as capital for starting a garments biz alongwith 4 others. My wife was supposed to be a Director in the Co. Till date I have not received any share of the profits nor have I got back my capital. The Co. has also not been formed. I had given the money in the name of one of the partners by way of a cheque but had not taken any legal docs/ agreement.

Is there any way I could get my money back?


Asked on 8/04/13, 9:33 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

05.08.2013

Dear Sir / Madam,

You have evidence of the cheque of Rs. 2.20 lakhs being encashed by the partner, so he is liable to either :

a) immediately draw up the registered Partnership Deed and appoint an Accountant of the firm to record all the transactions undertaken by the firm or;

b) give you garments to the value of the money you have given him / her to start the business or;

c) return back your monies within 7 days, else you should lodge an FIR against him / her in the local Police station.

Regards,

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Answered on 8/04/13, 9:44 pm


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