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Remedy in recovery case is filed on non payment of loan.


27-Nov-2023 (In Criminal Law)
me and my 5 partners took a loan amount of 10 lakh from one of our known friend and we given agreement and blank cheque for doing a business. in agreement we mentioned with in 1 month will repay the amount but after 8 month we paid only 2 lakh to him. in that business 2 of my partners and me paid 12 lakh and we don't have any proof for that(bank statement available), we paid that amount to other vendors.The other 3 Partners didn't put any amount still. now he have put a complaint against all of us. what will be the remedy?.
Answers (2)

Answer #1
603 votes
simple you can claim those are his investments... and security cheques ONLY how is liable for profit similarly he is liable for loss.. thats ends ////////////////////// show the agreement then we can decide ,, future course of action.. regards
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Answer #2
910 votes
Could not understand the issue partially, 1. Apply for anticipatory bail to evade arrest. 2. Here you did not mention which kind of charges you are facing and the details of FIR. only after seeing the FIR, I would able to suggest you legal remedy.
Helpful? LawRato19+ LawRato

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