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How to recover money invested in a company
14-Jul-2023 (In Recovery Law)
Hi, i have purchased land & seller company 'Excellence Shelter' made a buy back agreement i.e after 4 years they will buy back the land from us & give us double the money invested by us. 5.5 years have passed but that company is not ready to pay us the money commited earlier. We are having that agreement of buy back, what should we do now.
Is condition me apke pas dono options ha. Chahe to ap 420 ka case police station me kara sakte ho. Chahe to aap cheque bounce karake 138 NI act me case file kar sakte ho. Jyada jankari ke liye contact kar sakte hai.
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Adv. Satish Bhati
Greater Noida | 400+ Answers
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For partnership there is law ,and as per which partnership is made ,its not about profit it also about the loss suffered ,you had not mentioned what was your status in your partnership deed ,provide the details hopefully will help you Out in getting your money back .
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Adv. Rishi Kumar
Allahabad | 200+ Answers
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Yes you can do that. You can put tge cheque in your bank and wait fir payment and if it bounces you can file a case under section 138 Negotiable Instrument Act fir recovery of the cheque amount from him. It is the most convinient relief abailable for you.
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Adv. Akshay Mohiley
Allahabad | 25+ Answers
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They might have collected money from you under the garb of collective investment scheem. If that's the case there might be other investors like you. I would recommend you to enquire more about the company history and the land title search. Depending of the documents we may file case under prevention of money laundering or collective investment scheem violation or simple money suit and a criminal complaint.
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Adv. Akshay Shinde
Pune | 25+ Answers
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Hi, In the circumstances given above the details provided are inadequate to comment and or suggest any course of action. Kindly post more details in this regards viz name and nature of the company, nature of investment, and PDC etc given to you,nature of agreement etc. How ever if the company is registered and your investment can be classified as Debt of the company the an alternative lies under Bankruptcy code.
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Adv. Amarendra Sinha
Mumbai | 25+ Answers
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As per your query
As you purchased land & seller company 'Excellence Shelter' made a buy back agreement i.e after 4 years they will buy back the land from us & give us double the money invested by us. 5.5 years have passed but that company is not ready to pay us the money commited earlier. You are having that agreement of buy back
In this situatin you can file suit against company as claim breach of agreement.
As you purchased land & seller company 'Excellence Shelter' made a buy back agreement i.e after 4 years they will buy back the land from us & give us double the money invested by us. 5.5 years have passed but that company is not ready to pay us the money commited earlier. You are having that agreement of buy back
In this situatin you can file suit against company as claim breach of agreement.
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