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One partner has spend money without our knowledge what action possible


17-Mar-2023 (In Recovery Law)

Hello Team,We have invested more than 1 lakh and started a pvt limited company along with 1 partner in bangalore and he made us believe that he spent all the money what we have started with(He didnt invest anything in the company but created all fake bills and made us believe). Later when we asked for bills he bought a biil booklet from the store and wrote the amounts like 20000 for so and so 40000 for so and so. He never purchase anything with respect to the company corporate account. Now there are 4 resources who are asked to leave and he didnt paid them yet. He is a studying in Australia

Answers (1)

Answer #1
387 votes

You can file a criminal case for breach of trust. Fraud, misrepresentation under section 406 and 420 of IPC against your friend.

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