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Took loan for startup person asking to pay principal amount back
03-Feb-2023 (In Recovery Law)
i started a pvt ltd company and raised funds from individuals for the interst ranging from 6% to 10% per month and the same was invested to other project through a friend and the money has not come back . now the investors are asking for the principal which i do not have and they have taken cheques for the same. there are around 50+ people. please can you guide with a solution.
you are in big legal trouble
you need to take legal advise immediately as this is serious legal problems.
the investors have their rights and you have your defence rights !
but you need to take the legal opinion on your legal issues and problems as it is complicated and will require verifying the documents and other relevant details
15+
Adv. Namitabh Kothari
Mumbai | 400+ Answers
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