Cheated by business partner
Hi,
I am from Chennai. My wife and I were running a Spa and at one pointed we had put it on sale as we wanted to close the Spa. The buyer who came to buy showed us lot of big dreams that we will open a branded Saloon together and it will make lot of money. He promised to bring 80% of capital through bank loan. So my wife had paid the initial capital for Franchise and he has paid the deposit to landlord. We terminated the old contract with landlord and he made fresh contact under the partnership deed entity name with landlord. However he paid the deposit through his personal account as the current account for the partnership entity was not yet created. He dodged for 3 months for bank loan not picking up our calls many times. Finally we decided to call it off and just book loss for 3 months rental to landlord and move apart.. He went to landlord and collected the deposit and has not shared with us. He has taken all the SPA furniture and equipment from our place and told he will arrange for disposal which he did not. Also the deposit paid for branded saloon is not easily refundable. He let us take all that loss and he has infact walked away more money than he invested. He is not even refunding the equipment and now not picking up our calls and not answering messages. Can you please advise how can we move forward and get justice for cheating us on this.
Asked 8 years ago in Business Law