jatin arora
25 December 2012 at 23:44
dear Sir,
My friend had given me Rs. 20,00,000/- loan in 2 installements for investing in my business, which is a private limited company and my wife and myself are directors.
He had given by cheques and there was no agreement or writing.
The loan was taken in April and may 2010.
We have been paying him by cheque in small installements of rs. 32,500/- per month and then from january 2012 by cheque and also daily cash collection he started taking from us . The cash collection was of our business, for which he has signed the register.
Now he has sent us a legal notice claiming Rs. 20,000,00/- and says the money was given for other purpose.
He has infact taken 28 lakhs extra by way of cash collection.
Can we prove in court, or what shall we do?
He used to sign the cash register while taking cash from the office and sometimes we used to send him mail
Personal loan from friend to my private limited company
dear Sir,
My friend had given me Rs. 20,00,000/- loan in 2 installements for investing in my business, which is a private limited company and my wife and myself are directors.
He had given by cheques and there was no agreement or writing.
The loan was taken in April and may 2010.
We have been paying him by cheque in small installements of rs. 32,500/- per month and then from january 2012 by cheque and also daily cash collection he started taking from us . The cash collection was of our business, for which he has signed the register.
Now he has sent us a legal notice claiming Rs. 20,000,00/- and says the money was given for other purpose.
He has infact taken 28 lakhs extra by way of cash collection.
Can we prove in court, or what shall we do?
He used to sign the cash register while taking cash from the office and sometimes we used to send him mail