Upgrad LLM

investment returns


Hi Everyone,

 

Thanks in Advance for your valuable replies:

 

One of my friend had a business in data processing in Hyderabad. Few of the investors made some investment of 80k and 25k respectively. But unfortunately he lost his business and there is no any property to returns the investments to the investors. He was completely deceived and now he is working in a small company for 10k salary per month. He is completely failed to return the investment back to the investors. Of course he paid 30k to the second investor who invested 25k for returns of 1lakh. For this person my friend paid 30k. While starting the business he wrote agreement on bond paper that he will pay 1lakh to the person who invested 25k. He paid already 30k but he was not in a situation to pay even a single to this person. Coming the first person who invested 80k till date i failed to return even a rupee. He having only deposit slips which related to the amount which was deposited into my account.

  Now my doubt is what the rights they have, can second person file a complaint on me who having bond paper. If he so, then what will be the case cheating or any other case. What about the second person, can he file a case on me with the deposit slips. What ever it may be i will obey to the action what ever they take on me. And i cant pay anything now to them because i dont have any other source or any property.

Please reply.

Thank you

 
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