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Father and Uncle run business and borrowed money


22-Jan-2023 (In Criminal Law)
My father and uncle run business together and they had borrowed money from various people for business purposes. Some people had given money in exchange of blank cheques, some with signed agreement and remaining have given without any collateral. I do a job in private sector and am totally unrelated to the business. Due to some issues in the business, they are unable to return the interest or principal. How can we safeguard us? How will I, my wife and my mother be affected by this? How should we proceed in this matter?
Answers (2)

Answer #1
660 votes
Hello complete details of the case is required to be analysed before giving any advise. however cheque bounce cases will bear criminal liability and the agreements signed by your father and uncle will bear the civil liability.
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Advocate Ranbir Singh

Adv. Ranbir Singh

LawRato Faridabad | 25+ Answers
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Answer #2
699 votes
hello as the matter discussed is very serious for other family members, to safeguard their rights you have to taken some legal and technical process through while you and your family be legally safe from this problem for further help and detailed guidance you can contact
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Advocate Jitender Singh Singal

Adv. Jitender Singh Singal

LawRatoBhiwani | 100+ Answers
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