How to deal with dishonoring of registered agreement

890 votes

Question: I had invested money through a financial corporation in Bangalore and have a registered agreement with a Mr. Ripon Malhotra who promised to return it. He infamously committed suicide a few years ago and his company "closed" with all directors waiving responsibility to return the money. In such matters of dispute, despite an official agreement what do I do as amount has not been returned despite being given in writing.

Response. --- Agreement has to be looked into before commenting

LawRato LawRato

884 votes

It appears that there were huge claims against his company. If the company of Mr. Ripon is still not legally wound up or dissolved, you can still make a claim at the appropriate forum handling the dissolution or winding up.

Advocate S.K Prabhakar Shetty LawRato

959 votes

Co., closed means, whether it is wound up or closed the business? If still co., is there but not doing any business, you can file a suit for recovery of money in civil court. First you issue legal notice to the directors instructing them to make the payment, if they didn't respond then file a suit.

Advocate Rajeev S Vadrali LawRato

528 votes

He infamously committed suicide a few years ago and his company "closed" with all directors waiving responsibility to return the money. In such matters of dispute, despite an official agreement what do I do as amount has not been returned despite being given in writing.
Approach the experienced advocate.

Advocate Chandraiah LawRato