liable to prosecution

fulltrottlle (Querist) 19 August 2009 This query is : Resolved
sir/madame,
my co entered into buying contract with an mnc importer.After not being able to deliver the products on time,we sent them mail stating that these products will now be invoiced directly to other buyers for whom we had initially ordered for.Then came price variations due to forex changes which were never confirmed by us as the prices on contracts were indian rs only.After seeing all these issues,the importer requested to change the purchase order of one buyer and other buyers orders were supplied to us with increased prices that we paid them for. unfortunately,the buyer who bought goods directly from importer defaulted on payments after having issued cheques as per the terms of purchase orders.Another issue cropped up is that we may have changed the PO from this buyer probably before the importer confirmed the same in writings but orally it was agreed by one of its employer.The importer has initiated the proceedings u/sec 138 and even threatened us with action for cheating and criminal breach of trust. as we had on intent to harm being a reputed firm, can we still be tried for ? can the case become criminal at all ?

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