Collecting back the investment in a pvt ltd co
koteswara rao jonnalagadda
(Querist) 06 March 2012
This query is : Resolved
to,
the company lawyers,
respected sir's.
i am from hyderabad.my self,b&c promoted a company in the year 2005 with a share pattern of 34%,33%and 33%respectively.informed to r.o.c.hyd.2005-06 and 2006-07 company did a turnover of 400lacs.
pl note that 'b'is the father-n-law of 'c'
c is maintaining the business and having cheque powers of the company.
till date he did not submit the any of the statutory document to any authorities.when i asked in person he din't reply in properway.i checked with r.o.c nothing was filed.under r.t.i i collected the bank statements and i observed that 'c' cyponed the entire money to his wife and 'b' s regd partener ship company.for this partener ship company also 'c' is the g.p.a to sign the cheques.from this partner ship co 'c'with drawn the total cash and transfered to kit and kin.
i have made total investment rs 50 lacs.how to get back this.kindly help me.
with regards.
ajay sethi
(Expert) 06 March 2012
since you have promoted a company having turnover in crores and have invested rs 50 lakhs in said project contact a local lawyer in hyderabad .
it appears that money has been siphobned by one of directors file criminal complaint against said director for criminal breach of trust /cheating
C. P. CHUGH
(Expert) 07 March 2012
What is your position in the company. Are you one on the Board or just member of the Company. You have invested Rs. 50.00 Lac, what other members have invested and whehter this investment is toward share capital or loan to the company. All these details are necessary to rightfully advise your in the matter. Academically,
If you were on board, how it happened that one director siphoned all the money and why did not you raise alarm at the begining.
If you were a member, how come another director got back operation powers ? either he has invested more than you forcing you to be a minority stake holder, or you have allowed him to exercse such powers.
In case you have choosen to shut your eyes, why to cry now when "MILK IS ALREADY SPLIT".
Please come with more facts and we would love to help you if you really have been cheated.
Thanks
koteswara rao jonnalagadda
(Querist) 08 March 2012
to,
c.p.chugh saheb,
still i am on the board,this company did fish business,buying the fish at andhra pradesh and selling at west bengal and bihar.all the sale proced came through bank on line remitences from the respective dealers.this information i have collected from bank under right of information.
this company authorised and paid up capital is rs 1 lac only.out of that mine is rs 34000/- b is having rs 33000/- c is having rs 33000/- .in fact i approach 'b'to explain the total episode he also accepted and he dont have much investment he said he is ready to sell his share to me,if i buy it my share will become 67000/- i mean 67% will this situvation will help me.coming to 'c'he might have invested to the tune of rs 10lacs.i have invested more money than others.
coming to the cheque powers ,this was given to 'c'since he is stationed at work place but where as i am away to that place.since 'b'is my best friend but 'c'is b's second son-in-law.
ihave made the total payment through cheques only but the purpose paying this money to buy the fish tanks.with out buying the tanks he sypound the money.this is how 'c' cheated me.kindly help me sir.
with regards,
koteshwararao jonnalagadda.
V R SHROFF
(Expert) 08 March 2012
I advise to file criminal complaint against said director for criminal breach of trust /cheating
R.V.RAO
(Expert) 18 February 2014
yes. it is a case of criminal breach of trust.you can file a criminal case.
you can also file for winding up of company, as a threat to the cheating director to come down and settle issues properly.
in Hyderabad,you can approach corporate lawyer Mr.Ravi in road no 9 banjara hills,uma soumya builders apartments.
