Transfer of business without paying agreed amount
We have taken dealership paying amount along with an agreement, that they will pay back 3% in return, even if no sale every month on the condition we need to maintain 75% of the stock amount with company.
1 year all transaction went well and suddenly they stopped payments and that company transferred on another person's name. We have agreement letter worth Rs. 100 stamp paper and amounts were transferred Bank to Bank, no cash transactions. Whats the best way to deal with it?
Your relation is through the agreement. Check if it is in personal capacity or on behalf of the company. If it is in personal capacity then you will have to locate the person and if on behalf of company, even if the business is transferred, the new company will have to bear the liability if any.
Go through the agreement minutely, find if you have clear cause of action. If you find any fraudulence there you can go for criminal case and file an FIR with police.
- 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 Recovery 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.
Get Started >>
Answers by Our Lawyers
- how to remove my name as a loan guarantor
- Can shares be transferred from father in law to daughter in law
- What is the amount of maintenance which I can claim from my husband
- How to calculate maintenance amount to be taken from husband
- Are documents obtained by RTI valid in the court of law?