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Crypto exchange gone bankrupt my money is stuck


29-Oct-2023 (In Recovery Law)
Hi - Need urgent help I invested rs 70 lac crypto exchange. The exchange has stopped it's withdrawals and I am not able to withdraw money to my bank account. It is looking like exchange does not have enough money . 1. What legal options I have? Can I go to nclt for bankruptcy proceedings? Does the minimum claim need to be 1 CR ? Are there other options? 2. Exchange is reg. in Bangalore, can I approach a court in Delhi? I know other people suffering.
Answers (3)

Answer #1
604 votes
You need to hire expert advocate in this case, your facts are blur n not very clear, we need all information from inception, kindly b in touch to discuss your concern and to understand the legalities Thanks n b in touch
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Advocate D. Khan

Adv. D. Khan

LawRato Delhi | 1000+ Answers
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Answer #2
558 votes
Sir first of all you need to file. A FIR under sec 156 of CrPC. Then we can file a recovery suit under order 37 of civil procedure code and also we have to file a cyber complaint against the particular agency who has not allowing you to withdraw the investment amount
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Advocate Rishabh Gupta

Adv. Rishabh Gupta

LawRatoDelhi | 50+ Answers
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Answer #3
973 votes
First and foremost, the entity you were investing through has to be investigated that whether their actions shall amount to Criminal Breach of Trust. In that case NCLT may not be a preferred bench. NCLT as you rightly said is above 1 crore. You have other Civil/Commercial Courts for your redressal. Your transactions were done online I assume, and we can explore the Jurisdictions.
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Advocate Kunal Sinha

Adv. Kunal Sinha

LawRatoDelhi | 200+ Answers
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