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Agent in company which was fraud can customers recover money from me
08-Jul-2023 (In Criminal Law)
I am an investor and agent of PACL ltd which was found to be a fraud.Actions were taken against it by SEBI to seize and sell the property of the company and initiate refund process.SC in its Order dated FeB 02,2016 PACL Ltd Vs Securities and Exchange Board of India (Civil Appeal No. 13394/2015) constituted a committee under the chairmanship Justice (Retd.) R. M. Lodha, empowering the committee to sale the properties of PACL ltd to return money to the customers.Meanwhile i am being threatened by customers to sell my property to refund their money.what legal step should i take?can i be sued?
First of all if you are the investor then you yourself have been defrauded to the invested amount. You yourself have a claim against the said company. Secondly your properties cannot be brought into the fold on account of the fact that you do not have any personal liability. On the fact that you are being threatened by customers you should intimate the same to the agency who is handling the case so that you have a base to stand on. You may be sued by the customers but it is up to the agency investigation to register a case against you, hence your first act should be to intimate the investigating agency of such threats.
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Adv. Shiv Pande
Nainital | 25+ Answers
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