Friend forcing me daily to return money which we lost in startup busin

562 votes

according to your statement I would like to inform you that if one partner invested money in business and later on los business then law states that there is no liability in case of Los business by other partners; and, in case other person give or invested money in business and in the agreement it is mentioned that you have to return the money in case of adverse business, then duty cast on you to on return the money but he cannot file use cyber forum aginst you or contest the case, advise you to get the Advocate you can help you better.

Advocate Anil Kumar Singh LawRato

889 votes

If the amount was an investment in a business with profit/loss sharing, and not a loan, you are not legally bound to return the amount unless there was fraud or misrepresentation. But there must be evidence that can show that it was an investment in business, and not loan. If the business failed due to market reasons, you won’t be liable. But, you should be able to show that it was not an implicit loan. Harassment and threats by messages amounts to criminal intimidation, insult or harassment. You have the right to file a police complaint with evidence (screenshots of messages). Since your friend has already filed a cyber crime complaint you should engage a lawyer immediately. Obtain a copy of the complaint/FIR, if available. Depending on the allegationthe cyber cell might be investigating under. If no fraudulent intent is present and it was a bona fide business failure, these charges are not sustainable. Keep records of all texts, emails, agreements, bank transactions. This will protect you if a criminal case proceeds. A lawyer may advise you to apply for Anticipatory Bail if FIR is lodged and help you draft a counter-complaint for harassment. You may also go to the local police station or cyber cell with screenshots of abusive messages and file a complaint. 4. Clarify the Nature of Business Agreement: If possible, issue a reply notice through your advocate clarifying that It was an investment, not a loan and that there was no fraudulent intention and that you’re being harassed and defamed wrongfully. Your advocate may advise you to send a legal notice to your friend for defamation, harassment, and misuse of legal process. Never engage in any retaliatory behavior or abusive communication. Always be correct and lawful in behaviour and keep records of other party’s unlawful behaviour. Hope it helps you!

Advocate Anil Tiwary LawRato