quesCheating by partner in business, now in a debt of about 2 cr.

We started business with a partner in 2010, where we were the financing party and the other person had working knowledge. We invested in the company for four yes without any return, and Bec the money was taken from market we were paying the interest on it. From 2014 when we could no longer finance more as our financial condition was very deteriorated. We asked for the return of our money in the form of salary but to our shock we were denied saying that company can not afford our salary. Things are complicated which I can't explain in detail here, but I m very depressed Bec of mkt pressure.

  • ansThe facts disclosed by you doesnt give a clear picture of the legal relationship between you and your partner. Unless the facts are clear I cannot identify your legal rights and advise you on the legal course of action. However in a nutshell , such disputes where one person invests and does not get the return as promised is common and can recover the money through the process of the Court. Kindly come for consultation with all the relevant papers for detailed discussion and advice.

    Advocate Vanshdeep Dalmia

      Jor Bagh, Delhi

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Corporate Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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