I was working with my employer who needed monthly income on investment. There was an old acquaintance who use to advise my employer about the latest mutual fund investments etc. namely (Mr.Gajender Singh )
So one day Gajender Singh told me that there is an insurance compnay by the name of ING Vysaya / Exide Life Insurance which provides monthly return of 13% on investment. So I told to my employer about it and she agreed to buy it . But Gajender singh did not clarify that it is an insurance policy and a yearly premium is to be paid every year, he told her that it is an fixed deposit where you will get 13% monthly. which was also false because it was to be paid after 365 days of investment.
Madam paid the money but did not get any documents of the paid amount for the next one month. I got the commission on sale. When madam started making noise that her policy be cancelled because she is not getting anything as promised so Mr.Gajender singh asked me to pay the commission amount to madam so that she does not ask for cancelling the fixed deposit. I paid more than half of the money to Gajender to ultimately be paid to madam.
But madam got her policy cancelled and she got her money back. Now later after 6 months the company is asking me to repay the commission amount that they had paid to me but more than half of that money was paid to Mr.Gajender (Sales Manager ) of ING Vysaya /. Exide Life Insurance. through Cheque and cash from my account.
Please advise me how to tackle this problem