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About fake funding commitments
12-Jan-2025 (In Corporate Law)
I pay my consultant 20 lakhs for business funding. It has been three years, and he keeps delaying the process, citing various reasons for the funding being held up. I feel like he is wasting my time and making false commitments. What should I do?
If your consultant has failed to deliver on the agreed terms after receiving ₹20 lakhs, you may have a cause of action for breach of contract, misrepresentation, or fraud under the Indian Contract Act of 1872. Issue a legal notice demanding performance or refund within a stipulated time. If unresolved, you may file a civil suit for recovery of money or initiate criminal proceedings for cheating under Section 420 of the IPC.
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Adv. Ranabir Datta
Pune | 100+ Answers
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Well ofcourse, he is wasting your time and I think, he duped you. If he would have contacts, he would have become successful in generating funds for your business. You can file a Civil Suit as well as Criminal one to recover your 20 Lakhs
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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If you have any written contract then enforce the same in a local court. If you have cheques then cash them in if bounced file Criminal case of cheque bounce. If it is a oral contract then file a civil suit for recovery in Civil court.
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Adv. Ajinkya Sanjay Gosavi
VasaiVirar | 100+ Answers
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