Hello,
I am a trader in the stock market.
A friend's friend(lets call him Sachin) had given me Rs. 1 lac over a period of time intervals from October, 2010 for investing in the stock/commodity market.
Out of that 1 Lac, Rs. 40000 was given through cheques and Rs. 60000 was given through cash.
I have returned him Rs. 80000 out of which Rs. 40000 was through cheques and Rs. 40000 through cash.
Rs. 20,000 still needs to be paid by me to him out to return his invested amount.
But the stocks i am currently holding are in loss since Oct, 2012.
Apparently, Sachin had taken money from his village's people and given it to me(which i was not not knowing until a month back), and now they are threatening me and are demanding the whole Rs. 1 Lac from me.
Sachin had brought them to my home where they snatched my phone and turned it off, and used agression on me.
As i have dealt only with Sachin, how can these village people threaten me??
What legal action can i take against Sachin/others?
(The cash is not documented anywhere, only the cheque transactions between me and Sachin are documented through our bank accounts.)
Also, how can he demand 1 Lac, when i have already paid 80,000 of his invested amount.
