i have started a business of contracting Canteens in the schools in Hyderabad, with four partners with 13 lakhs shares of each. i got registered the agreement and statred the business.
Subsequently business could not be conducted properly due to 45 days continuous Telegana Bandh, Then a partner started compelling me to give back his share of 13 lakhs.
out of his compulsion and continuous harassment, i have paid 3 lakhs and give a letter in the frim letter headundertaking to pay remaining 10 lakhs with in 3 months. also i have issued two cheuqes of 5 lakhs each.
Due to capital cruch we conduct the business and now the business in loss.
Now the above said patner presented the cheque and file a criminal case against me, infat i haven't received any money in my hand.
His contentions are
1. As we haven’t started business, he needs his money back
please advice me on:
1. Jurisdiction ( what I heard that the jurisdiction is paying banker or collecting banker- is it true, if yes please give any citation of the related cases, or when it was in force.)
2. Also please advise me what are the other defenses available to me.