Dear Sir,
I trapped in trouble. please help to overcome it.
I am running a business in bangalre. I sold my business to one person for 16 lacs. He gave two 8 lacs cheque.
We made the aggrement on stamp paper of handovering all the things to him.
I deposited two cheques in my account and credited. I settel the credited money where i need to.
After 2 days he stopped the payment of 8 lacs cheque. Bank also requesting me to pay back the 8 lacs to the that person.
He is also threatening that he will not pay 8 lacs. I handover the business and everything.
Now I am not in a position to pay 8 lacs back to him.Please suggest me the solution for this problem.