Invested in my friends business and now claiming he cannot repay
mohamedjameelalikhan
(Querist) 06 April 2015
This query is : Resolved
Hi,
In the year 2012 Nov my college mate and a friend for 12 years asked me to borrow money for his restaurant business since I was jobless during that point I spoke to my parents and they agreed to help him on my behalf and later 2 months he and his family members offered me to be a partner during the month of Jan 2013 and since I was struggling that point I accepted to the offer and started working as a working partner along with the borrowed amount on a daily wages of 300INR.
Mean time they hired a CA and a partnership document was created and when asked to give a signature they mentioned that after releasing full payment we will sign and they made me feel like they were right as I was new to the business and the partnership deed.
Somehow I found that all the details which he provided me with bank statements and other details in regards to the restaurant was created by him and non are original documents. I spoke to the so called friend about this and he said he will repay my amount as soon as possible and his parents too accepted in the very beginning stage and suddenly they started creating a fight among themselves and one by one started questioning me why should they pay me back as I was partner and I should bare the loss.
The amount I invested was 965450 and the required amount to be a partner was 985000. I lost my patience and when I started questioning them back saying that I have only invested here and I am not supposed to bare the loss until the agreement is signed. They realized something and created another family issue saying that their son and his wife has got misunderstanding due to which their son is planning to go to Dubai I was shocked and later thinking that they should clear existing debts and handover the restaurant to continue with partner ship or to repay the amount for me.
They agreed to it and again they started telling me to take over the restaurant and he will no longer be the partner and I can enjoy the full benefit of it and I should bare the debts on my head. Initial stage I felt something fishy and asked for the debts detail and again they gave me a fake statement of details and didn't accept the offer as the debts were beyond his claimed invested amount.
all the time keeping me busy with their family issues one fine day by 12 midnight my friend called and informed me that he is leaving to Dubai and all the debts and shop will be taken care by his father to repay me and by the time I can reach him back with the shock I had he flew from India.
After several email conversation I found that entire family is a culprit and corrupted and the emails I received were mostly blaming me and not to the point. When I approached police station they asked me for documents and I said I don't have any apart from the Daily sales and investment accounts note what was followed by the shop manager and at a point including me. Police said that they can't do anything in such case. I was totally ZERO to hire any lawyer to proceed further and take any action. All I have is his SMS and email stating me as a invested partner.
With these documents are there any possibility to file a case and make him run down from Dubai.
Kindly help me recover the invested amount as I have got a family to be taken care and I need this to be done ASAP. I have rental documents and Partnership deed for the restaurant which was made through a CA and accounts note to prove my investment and same day transaction in my bank account and my parents account.
Thanks in advance
SAINATH DEVALLA
(Expert) 06 April 2015
Who asked U to sigh the documents without verifying them? Except the point that U have invested amount in the business, all the other things U mentioned are immaterial.Provide the details of the partnership deed and the rental documents. After going through, we can come to a conclusion, whether legally U can claim the invested money.
SAINATH DEVALLA
(Expert) 06 April 2015
What are U MR.mohamedjameelalikhan,
U keep on posting queries in different threads:
Author : mohamedjameelalikhan
Posted about 2 hours ago
Hi,
I have received a Credit Card in the year 2010 in Gurgaon and I was paying my emi correctly for 6 months and due to job loss and health issues I had to get back to my home city Chennai. after I recovered from my health issues looking for a Job was tough and found a job atlast in 2014 Dec mean time due to family tensions and joblessness had taken me to a level of frustration and during this point I completely forgot about my credit card.
Now I would like to pay back the amount but will that bring my credit score up in one go.
I certainly understand that it was my mistake to forget about my credit card repayment and I came to know about this when I was applying for a personal loan and the rejection reason was my credit score and further checking my cibil score i found that it was just my credit card repayment history which has screwed my credit history.
If I pay the outstanding in one go will that bring up my credit score up in the track immediately. When I spoke to a person from credit score company they said that it will not come back immediately and will take 3-4years to get the rating back.
I don't understand the concept behind this. It has taken my credit score down because of my non payment and when I am paying it back I should have the score back as this is the only repayment default I have till date. Can someone guide me how to get my score back after I pay my outstanding amount.
Thanks in advance
mohamedjameelalikhan
(Querist) 06 April 2015
To Sainath Devalla,
For your kind information I am not hear to gain knowledge if you feel that I am here to gain Knowledge I am sharing Sub Inspector Raja from Nandambakkam, Chennai Police Station who called me last week saying that I was handed over the shop and I have to bear the debts against this restaurant and I cannot claim over the advance money. SI RAJA 9444106983.
if you think I am looking to gain knowledge please talk to me in person to know what kind of a situation I am going, I am in a position of not able to admit my son in school and for which I am seeking loan and thats when my parents invested on behalf of me and I am held responsible. It wasn't my mistake to start over without signing, it was my mistake to believe in someone with complete trust.
Last week the SI from the station called me stating that Asst Comm has ordered to close this case by 15th of this month and They are forcing to come to chennai if not they will send me summon.
I have found a gentle man who agreed to fight for the labour who have not received their payment and they have gone ahead to file case against the person who has left to dubai..
mohamedjameelalikhan
(Querist) 06 April 2015
For your response I have not signed any document so far and I have mentioned that clearly.
Also all the transaction happens on a daily basis were noted down in a register.
Apart from this people who have shop nearby and labours are the people know how I was cheated and been getting cheated now.
I dont have any documents but I have people who can support me in this regards and who I dont have any kind of personal relationship.
The documents which I mentioned are rental agreement and Partnership deed which I have not signed.
mohamedjameelalikhan
(Querist) 06 April 2015
Also the restaurant was located opp: Chennai Trade Center, Name: Chickys Family Restaurant, Person who I paid money was S.Shameek Hameed, Currently working with Western Auto Dubai, His Father Shahul Hameed from Ramanathapuram holding a position in a local party as district head Gandhiya Makkal Katchi, This political part is headed by a renowed lawyer in TN his name is Tamil Maniyan.
What more details you need, you need labour name and numbers who are waiting to get the wages paid for the work and pain they have taken including me. My parents invested I was still looking for a Job can run a family with a wages of 300 per day travelling almost 60 kilometers a day.
I was surviving in this world with a kid lending money for simple things to keep my son. Talking is easy, if you think you can really help me talk to me 9902077882
SAINATH DEVALLA
(Expert) 06 April 2015
I have been witnessing similar queries from U.Hence I raised the issue.Without documentary evidence how are U going to fight it out in the court
mohamedjameelalikhan
(Querist) 06 April 2015
thats was my issue Sainath Ji, and that the same question raised by the Inspector. All I have is his SMS he sent me in AUG 2014, from a postpaid connection he was holding in his mothers name and that was a number which was used for his personal use and for shop use. He was not holding anyother number till the time he left to Dubai. I also have couple of emails I have sent to his email ID which was registered under his post paid bill as well. Also I have his office email ID.
He has also got money from another common friend of ours without my knowledge and they are all behind me. Since in police station that they are claiming that they have all rights to enjoy the advance money I found a labour lawyer who can hold the advance money and handover to the labours for the struggle
mohamedjameelalikhan
(Querist) 06 April 2015
I am here to know how I can fight this out and the pain I am through I am sure court will not even bother, However I want this person to come to India and should never return to Dubai he should be Banned till he pays me, vendors and labors.
DR.VEDULA GOPINATH
(Expert) 07 April 2015
PLEASE SEND ME A COPY OF PARTNERSHIP DEED TO ADVISE YOU FURTHER
DR VEDULA GOPINATH
vgnath@gmail.com 9848227926
Rajendra K Goyal
(Expert) 07 April 2015
Consult local lawyer and show him all the documents.
mohamedjameelalikhan
(Querist) 07 April 2015
Thanks Rajendra Ji, They suggested me that I should file direction as the police station was not ready to take up this case it will be the first step and one more lawyer said he will send notice to his parents who are in India and to landlord to stop paying them back with the advance money. 3rd lawyer said why are you wasting your time nothing can be done.
Being in these kind of dilemma what should I do or who should I believe. As I said it was a friendly investment on the initial phase believing a 12 year old relationship and believing was the biggest blunder any person can do.
I have not signed any documents regards to the restaurant and all I did was while promoting the shop in Social media I mention my name as Partner. Thats the only proof with his signature I have on a bill work 10,000/- from JustDial.
mohamedjameelalikhan
(Querist) 07 April 2015
It's not that I have not approached any local lawyers I have approached more than 4 lawyers and all gave me different response. Also in the process to take up this case I am not in a very good financial position too.
I was ready to pay after recovery of the invested amount few hesitated and few directly said sorry.
I am in a confused state as this person in Dubai I am unable to take any action. Will I be able to file a direction and get this person back to India and fight for the money. Is there a way for such kind of case.
Sudhir Kumar, Advocate
(Expert) 08 April 2015
I understand that I may be getting rude reply like Mr Sainath Devalla.
Yet I do make my views clear.
Money given to friends and relatives of self and spouse are actually a charity in the garb of loan. This type of money when taken is not intended to be returned. You are neither first nor last such case.
If you did not have extra money you would have declined and still you would have been good friends.
I am also of the view that no useful advise can be given without perusal of the documents.
mohamedjameelalikhan
(Querist) 08 April 2015
I certainly understand that but borrowing money for a business from a friend and the entries made in Accounts note and mails and SMS stating my investment as a truth and why can't this be taken as a proof, I have supporting documents to prove the SMS which I received was from his number which he used during the period of business and till the date he left to Dubai along with his billing address, shop documents showing his number and the email ID what he has registered for the mobile and the official ID's when I send email asking me not to send any emails in official ID, Such things can be taken as a valid Cyber proof right. Is there a way these can be treated as a eligible proof to corner this person. Along with some bank transactions made to his fathers account.
I don't want to be a good friend in this situation wherein he is enjoying his life earning more than a lakh and I am struggling to get paid quarter of it. A friend in need is a friend indeed I believe in such proverbs, I can't consider him as a friend anymore. The words he gave me and promises he gave everything was false and including their parents they have cheated me to the core who should be respected I had to raise my voice when they misbehaved and yet I am the one who is blamed and people say I should have kept quiet.
I have kept my shut for 2 years and yet they plotted another drama to pull me down and I had to react and I am reacting now. Hope I get some or the other ways in Law to get this person cornered. I have full support from the people who worked in this restaurant and the vendors as they know for 300/- per day wages how much I have worked from morning 7am till 1pm leaving my family, functions, meetings everything I did is for good and has ended up in a bad way is what I can't take it anymore.
Dr J C Vashista
(Expert) 09 April 2015
Too long a commercial story and not a . consult query a local lawyer.
mohamedjameelalikhan
(Querist) 09 April 2015
So what kind of a story you like sir, You people are knowledgeable and you get to have time to see different cases and you people know law. I am just a common man, do we have any law included in our syllabus to avoid such kind of happenings in a persons life. I wonder the pain I have taken may be less than the critics you people give on my query. I am expecting some kind of positive results from people who have accepted to guide me. I am happy to see people who have come forward to guide me.
If you cannot read through all the query's and my replies I would really really appreciate not to respond and hurt me more on this,. I am here to find a solution to my query not to respond to the critics.
People who think who can help me and guide me alone respond, you may also reach me on 9902077882 to know what has happened if you feel and if you have no wish to read my query but can suggest some good opinion I can explain them the whole incident happened from 2012-2015 till date
T. Kalaiselvan, Advocate
(Expert) 11 April 2015
The experts here are to address the real problems narrated in brief by the querists who are willing to understand the replies instead of making rude comments or mockery about the experts and their opinions. You have stated to have met four lawyers, I believe you wold not have apprised them your problem properly hence you were returned with disappointing replies/opinions. First understand your problem and decide about the relief you want then only you will able to follow the correct route to the desired solution.
mohamedjameelalikhan
(Querist) 12 April 2015
thankyou sir However, I have given all the documents I was holding and have given every single detail when I spoke to them in person. I certainly understand my problem here and have given the basic details. Do you think giving all the details of 1 year after business and 1 year during business about every single day and the way my friend and his family has cheated me. I have given only details which I felt necessary. I guess my life summary about the business has fetched a name of commercial story in this forum and some have even said nothing is possible.
There should be something or the other way around for these kind of issues.
