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HARISHANKAR ROY (Lawyer)     26 May 2024


Brief story: I had paid 4 lac to my friends in his wife account for some business, there is no written agreement for that, Now my friends entered into a partnership business where he individually and the company is partner, and both are decided that in the premises of company i.e hospital he will open the medicine shop and now he asked me to invest 6 lac more and we will make an agreement between us and we will operate there business, but as i understand i have not direct relation with the company and he is not the authroized person to engage me through contract so please suggest which will be beneficial for me if in future i need to demand my money back then i can go through legal aids, 


 4 Replies

T. Kalaiselvan, Advocate (Advocate)     26 May 2024

If you do not trust your friend in this financial matter anymore you can decline his offer to become a partner and restrain from investig any money into his so called company.

However if your friendly relationship is strong and trustworthy then you can decide about entering into any such agreement which should ensure that you do not suffer any fiscal loss at any stage in future and your money is properly secured. 

HARISHANKAR ROY (Lawyer)     26 May 2024

Can you guide me to prepare the documents so that I will be safe in financial matters. Thankyou 

Dr. J C Vashista (Advocate )     27 May 2024

You have stated to have transferred Rs. 4 lakh in the account of wife of your friend, how can you count the amount in the share of your friend, as both of them are separate two different persons for the business. 

Some confusing facts have been posted, redraft.

Real Soul.... (LEGAL)     27 May 2024

You can opt to;

EIther make a prtnership with your fiend for and name the Partnership Firm and then that Partnership firm withh be partner with compnay for bussiness.

Or Just =execute  a perosnal loan agreement ,mention the details of money advanced /paid already and to be paid for bussiness by your friend. Incorporate the repayment terms and consiquencies, Strictly formulate the document without having any emotional touches. Take Promissory Notes and or  Advance Post paid cheques.

Money terms must be written even if forwaded to your blood relationship so as o maintain relationship well.




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