Neil Paul 09 July 2021
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 10 July 2021
Insufficient details. Unless the contract between the investor and the company is examined, no opinion can be expressed.
G.L.N. Prasad (Retired employee.) 10 July 2021
Let him defend when the other party files such case with evidence, as it was stated that 'with no contract or verbal agreement for pay back'
This may be a one-sided version of your friend and he may be facing a threat. Unless a legal notice is given with details by the investor demanding for paying the entire amount, further proceedings may not be possible, and there is no evidence of such "fraud" was stated in the query.
P. Venu (Advocate) 10 July 2021
The facts posted suggest no fraud. Only a civil action is possible; a civil action takes its own time to be concluded.