Sir, I am Sumit and am a business owner of small company that trades in Textiles.
I have entered in a agreement (plain i page letter on my letterhead) to buy some 4 lacs meters of fabric from a corporate lying in Special economic zone, worth 1.42 crores.
I have given 15 lacs in cheque as advance.
On their behalf (agreed verbally) I have taken duty free import license worth 15 lacs, to get the fabric out of SEZ zone.
Now after 8 months, they have still not given me my fabric, and are not even taking my phonecalls.
Now they are saying that u have to pay additional 20 lacs as bribe to offcials (verbal) and if u can't , we will forfeit entire money you have paid.
Cheque was given in March 2012, licences was obtained in April 2012.
What options do I have??
thanks and warm regards,