Agent misuse company amount
jai Prakash Joshi
(Querist) 04 November 2011
This query is : Resolved
Res Sir,
A company agent received installment amount from borrower on behalf of company. but failed to deposit amount with company and that agent utilized for personal gain.
plz guide me in which sec present FIR and what can do and if any draft Complainant plz guide me.
Thanks
With Warm Regard
J P Joshi
Advocate
jai Prakash Joshi
(Querist) 04 November 2011
respected Sir,
Plz guide me what can do for my client.
With Warm Regard
J P Joshi
adv
Shonee Kapoor
(Expert) 04 November 2011
IPC 409
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad
(Expert) 04 November 2011
File civil suit also on both agent s well on company. Employer is fully responsible for his agent.
ajay sethi
(Expert) 04 November 2011
it is weel known principle of law that principal is liable for acts of agent . if agent has defrauded and utilised meoney for perosn gain you can take action against both the principal and agent .
Biswanath Roy
(Expert) 04 November 2011
it transpires from your statement that offense committed by the agent falls u/s.403 I.P.C. See Mahabir Prasad Garodia vs. State of Assam AIR 1961,Assam, PAGE-132,2 Cr.LJ, Page-457.
Shailesh Kr. Shah
(Expert) 05 November 2011
Mr. Sheikh Sahab
Shri Shonee Kapoor is 'expert' not 'experts'.
Actually, you have already made mistake lots of time not this time.
Shailesh Kr. Shah
(Expert) 05 November 2011
you are advised that you can go also civil court with lodging FIR.
prabhakar singh
(Expert) 05 November 2011
As you are not identifiable to me by your query whether you are Borrower or company,i propose two answers:
1]If you are borrower with notice from Creditor company that he was agent of the company or you have reasons sufficient to believe so and if he has issued you receipts of your deposits on print books of the company then you need not worry and need nothing to do because the principal being company is bound by activity of his agent,it shall in law be deemed that you have paid to the company provided agency is proved.
2]In case you are company you can sue your agent for accounting but i think he was your employee authorized to collect installments from borrowers and to deposit
the same with company on day to day basis
then he has committed breach of trust reposed in him for the job for which many
criminal liabilities can be charged upon,
which brethren expert in criminal side should advise for.
jai Prakash Joshi
(Querist) 05 November 2011
Respected Sir,
Firstly thanks to Expert for interest in my problem and best guide to me.
I am adviser of Company.
My Client company want taking criminal action on agent/filed executive on ,
till date agent leave the job but he write down taking money from borrower but not deposit with our client company,
what can do for my client ,fIR or compliant to court or any action plz guide me in which IPC Section ,
Plz Guide me
With Warm Regard's
J P Joshi
Junior Advocate
Advocate. Arunagiri
(Expert) 05 November 2011
If the agent had issued a receipt, it is deemed the company had issued the receipt. You can show the receipt to the company, the company ought to credit your account, even if the agent had not deposited it in the company.
jai Prakash Joshi
(Querist) 05 November 2011
Respected Sir,
Plz Guide me.
I adviser of company so guide me on behalf of company side,
Before Warm Regard
Advocate. Arunagiri
(Expert) 05 November 2011
The company is the principal, it had appointed agents to collect money from their clients. You should have given receipt books to agents. If the agent is acting as per the authority given by the company, the act of the agent will bind the principal.
So, if the agent collects money from the borrowers, but not remitting the same into the company, the borrower is not affected.
You have to credit the amount shown in the receipt, and initiate prosecution on the agent for not remitting the same to the company.
This is a very usual problem for all the financial companies.
prabhakar singh
(Expert) 05 November 2011
As advisor of company you should advise the company to lodge an FIR against the agent for having committed cheating and breach of trust.
Your company shall have to credit for amount
deposited by borrowers or its depositors as he was agent of your company so his all activities are binding on you.Your company can not jeopardize the interest of third parties.
