Disloyalty of joint account holder


Hi! I want a legal advice. My Mom owns a knitting mill in South(Tamil Nadu). We reside in mumbai, so we kept my dads cousin as a care taker. We gave him 10% profit & signing authority of check 2 him. Dis ws going smoothly for 12Yrs, but last yr we had a fight, since den he doesnt show any account details & nt returning our cheque. We cant go to bank manager for any help, he is his best friend. Also he doesnt vacate from our property . Nw he hs started another mill near ours & using our place as a godown. He is spreading words like, “Mill has 50Lakhs loan & i think i might buy dis mill in near future.”  After all dis, he says dad dat he has given blank cheque to a dealer for amount 23Lakh, who happens to be his new mill patner. Still we have not seen him, neither did he claim loan from us. After lot of effort ,he submitted accounts in sep’13 to our auditor for 2012 IT, we paid taxes, still we dint have a look at those accounts,even audutor is with him, since he regularly gives gifts. My  parents are looking an alliance for me, our reffering address is our mill..so any one comes for enquiry his family has to entertain them, if we fight he might say bad things about my character,so dad s not tking action. Bt i want 2 know, what steps can b taken to prevent any further damage, safety of our property & Cheques that he claims to be given to dealer & also to stop him from giving any further cheques to anyone.

CAN I ASK MOM TO COMPLAIN AN FIR SAYING,” I DOUBT MY PARTNERS LOYALTY, HE DOESNT SHOW ANY ACCOUNT DETAILS,SO FROM TODAY NONE OF THE CHEQUES WITHOUT MY SIGNATURE WOULD BE MY RESPONSIBILITY,THOSE CHEQUES AMOUNT WOULD BE SOLELY DEDUCTED FROM HIS 10% PROFIT” – IS DIS POSSIBLE? OR WILL BACK FIRE US,  AS IF WE ARE CHEATING.

Please give me guidance. What steps can be taken, without his prior knowledge..otherwise he will tear blank leaflets frm cheque book..his immediate intention would be to bounce cheque,since he doesnt own a place to live & has to take care of his new mill which is 2 building away from our mill.

Please tell me procedure & action of Tamil Nadu Government

 
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Course of action sequence wise :

1)      Cancel the power of attorney given to your relative immediately.

2)      Inform your banker about the change of signature i.e. that all the cheque signed by you mother are only to be honoured.  The Bank manager is public officer he can take the sides.

3)      Immediately take possession from this relative of yours and if need be take police help.

4)      As you are not even aware of the financial situation of your own business , this relative of yours might have taken huge loans in the name of your firm and might be utelising the same borrowed money for his own independent business  hence you must take immediate action.

5)      What ever cheque are not returned to you or your father you advertise in the newspaper stating all the detail and claim those cheques to be lost cheque and simultaneously inform your banker to stop payment for all the cheques which are not account for/ missing.

Capt Gurvinder Singh

www.captgurvindersingh.com

 
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Thanks,

Bank Manager is his best friend, the moment he gets to know, we are taking steps..immediately he will put cheques 2 bounce..is there any step which can b taken wid police complain..something like that.

Also, i wanted to ask, property is in mill's name, my mom is only owner, but, is registered in mills name & also we have given 10% share to him only for business, but in unregistered stamp paper..can he corelate?

If we transfer property to mine or in my brothers name? he will be only left with name of our mill. According to law, can he claim his 10% share on our property?

Please also tell me what kind of help can we expect from police?

 
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Please tell me is there any law to corelate 10% share of his in an unregistered document onto our property?

How can we save our property first?

Please DO REPLY?

In ur reply you said to advertise missing cheques as lost one,dis step is enough or should we immediately complain in police for the loss with article..PLEASE DO SUGGEST. YOUR ADVICE IS VERY IMPORTANT TO ME.

 
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