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Kamalakkannan (MD)     26 August 2016

Finance

I borrowed from one financier 50L. I am doing mobile sales. I have some other debts for 1Cr. Recently I sold 65L worth Products to that financier for 35L purely for my rotation purpose even I aware that loss. Now I can't repay the debts around 2cr. I want to Surendar my self in court. Kindly advise.



Learning

 2 Replies

P. Venu (Advocate)     27 August 2016

Suffering loss n business or being in debt is no crime. 

Augustine Chatterjee,New Delhi (Advocate & Solicitor at Law)     27 August 2016

There is no criminal liability upon you. The only proceedings you shall be subjected to are civil . Unless some one moulds the facsts to make it appear as if it is a criminal offence.

Augustine Chatterjee

Advocate & Solicitor at Law

9999931153


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