File Criminal complain u/s 406, 420 IPC.
Partner scam and refund back money
A year ago I had started a partner ship firm In which the partner did not have money, he had promised to pay the money in 11 months. I trusted her and had accepted her advice and fixed her 200,000 rupees per month for the purpose. But as time went by, business was on its upswing But when he raised the borrowed money from outside, he did not know when I asked for the money from that customer, then he said that I have given money to your partner When I asked my partner about it, he accepted Doing this, he scamed millions of rupees with me I am very sad, now what should I do?
Asked 7 years ago in Business Law
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16 Answers
But the head was the transaction in that all cash No legal proof
Asked 7 years ago
1. It is not clear whether any partnership deed is executed or not. If yes then the share of your profit and initial deposit you contributed to the firm.
2. Now if your partner does not share with the profit of the firm then you can file a suit for dissolution of the firm and rendition of accounts including shearing of your due profit.
3. So take legal recourse and strop worry which would do no good.
1) issue legal notice to friend to refund money collected on behalf of the firm
2) if partner refuses to do so file police complaint against her for cheating , criminal breach of trust under section 406, 420 of IPC
3) also have your accounts audited so that you know extent of fraud committed by your partner
A complaint with police under section 403, 405, 409, 415 and 420 IPC can be lodged
What are the conditions of partnership deed in this regard?
If in the absence of such a specific agreement a partner receives money belonging to the partnership he cannot be said to have received it in a fiduciary capacity.
Breach of terms and conditions of the partnership firm can fasten the criminal liability against the erring partner.
You can also take steps to recover the amount from the partner by due process of law.
obtain letters from your customers that payment has been made to partner
2) then confront your partner with said statements
3) obtain acknowledgment of liability to repay the money to firm from partner
But the head was the transaction in that all cash
No legal proof
You have to create evidences to prove his fraudulent activities.
a pol;ice complaint will make him to confess his crimes.
Dear,
First of all , if he is partner in your firm then why are you fixed him with 200000 rs. p.m. Partners always take
share in profit or loss in firm and if it is done then file a police complaint for criminal breach of trust. Make that
outsider your evidence.
Am not getting u . please ask in clear and unambiguous language, than only precise can be advised.
and provide clear picture by sequence.
Hi, First you have to issue legal notice to refund the amount and thereafter you have to file suit for recovery of money.
2. Before filling the Suit you have to come out of the Partnership and instituted the suit.
Hello,
Send a legal notice to her.
Get an affidavit from the person who is saying that the payment has been made to the partner.
Make a publication in the paper that no payment made to the second partner shall be accepted.
Also file an FIR against her for cheating, fraud and criminal intimidation.
Regards
1) First appoint a auditor in firm for seeing financial status and computing the scam done by the partner.
2) File a criminal complaint for cheating and criminal breach of trust ipc under section 406 and 420.
3) Issue a legal notice for refund of said amount computed with interest.
if he does not in case reply file a civil suit for recovery of amount.
The statement of customer and bills and audit reports can be valid evidence to the effect.
You can file case against him under fraud or misrepresentation under
Indian Partnership Act, 1932, section 52
52. Rights where partnership contract is rescinded for fraud or misrepresentation
Where a contract creating partnership is rescinded on the ground of the fraud or misrepresentation of any of the parties thereto the party entitled to rescind is, without prejudice to any other right,
entitled-
a. to a lien on, or a right of retention of, the surplus or the assets of the firm remaining after the debts of the firm have been paid, for any sum paid by him for the purchase of a share in the firm and for any capital contributed to him;
b. to rank as a creditor of the firm in respect of any payment made by him towards the debts of the firm; and
c. to be indemnified by the partner or partners guilty of the fraud or misrepresentation against all the debts of the firm.
For Cash proof or evidence party will be witness as they had given money to him.
Hi,
You need to file FIR cases under section 409 of IPC against the head and partner.
