Loaned / Invested Money but promoter of company denying all as no doc

I have loaned money to a friend for a startup by helping him . After certain time promised me it will be converted to shares in global company he have . He took all money in his personal account as there was no Indian company registered . But once the whole money that was promised was gone in his account in different installments , he started telling me he can't give that much shares but gave me only shares in Indian company but denied to give me in global company. This same problem is going on from ages then he threatened and pressurised me by saying he can close the Indian company and I won't get anything so better I just take only 1/6 th of the orignal percentage of shares finalised in global company or take my money back with interest . I have proof only all in terms of what's app chat and emails. As we didn't sign documents . Also he says he cancelled all my Indian company shares without my consent. I am now trapped and pressurised as he had done many tall claims . Pls advice

Answers (2)

73 votes
Hello, on the basis of emails and WhatsApp you may have a case both in civil and criminal law however your evidence emails would have to be thoroughly reviewed since there is less chance compared to enforcement of a proper agreement

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271 votes
Well, as you were the owner of Shares in his Indian Company, how he can take the holding of such Shares. He would have got your shares transferred to him by duping you. Without your consent, he cannot transfer your shares. As far as stake in Global Company is concerned, you hold such amount of shares in it as was initially promised to you. I will help you out. Let us connect on call to discuss about your case.

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