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Colleague harassing me to return money


18-Feb-2024 (In Civil Law)
Took money from colleague to start a side venture, he gave me money, without any form of agreement (solely on his own confidence). He transferred me money using online banking (UPI). Now due to some of his personal reason he is asking me to refund the money quickly. I want to give him money but I will be able to return only in installments. Now he is pressurising me to return money urgently and blackmailing me saying that he would file FIR against me and giving me political pressure as well, saying he has sources with politicians. We have no agreement with each other, can he file FIR against me? What can I do for my own protection. I have intention to return back his money, but I need some time. Please give your advice and suggestions.
Answers (3)

Answer #1
812 votes
if you have started joint venture company and you did not made any aggrement but if you have any evidence that you are partner of that company and if you had transffered money in your partner account. than you can file thecase
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Advocate Deepak Singh

Adv. Deepak Singh

LawRato Delhi | 50+ Answers
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Answer #2
846 votes
the answer to your first question is Yes he can file the FIR based on the online transaction. for the other part, let him do that then you can answer in the court that you can return money in instalment and that will be granted for sure if you do not have the balance in the account
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Answer #3
631 votes
Simply put, failure to pay money owed typically falls under civil law, so filing a First Information Report (FIR) isn't applicable. Instead, the individual can pursue a recovery suit against you that too the limitation is three years. Proving liability in such cases can be challenging, especially if there's no formal agreement between both parties. It's crucial to avoid any communication where you admit to owing the debt. Additionally, refrain from providing blank cheques upon request, as this could lead to legal action under the Negotiable Instruments Act, which entails criminal proceedings.
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Advocate Arinjay Bisht

Adv. Arinjay Bisht

LawRatoDelhi | 100+ Answers
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