Mahesh Yadav 19 December 2021

No payment proof given to partner in last 10 years

My friend trust blindly his partner since last 10 years. He supply amount in cash whenever his partner demand. Partner bought some investment scheme in front of my friend and friend had taken cash from his brothers, selling of his shops since last year. Friend given up to 2 crores but not an single proof. Nothing has been return till date. His partner is telling I had invested with other and he not available in India

Now all are harrassing my friend and they are thinking to beat his partner.. Can you suggest without any proof is any legal or police action possible or if they beat his partner then friend have to face legal action if his partner complaint.

If his partner said that i have not taken any amount then what my friend should do to take action.. Please reply. Thanks

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Megha 04 January 2022

First of all, if any business partner is found involved in any financially fradulent act which may include embezzlment of funds, he can be first and foremost sued for breach of contract of partnership and seek compensatory damages..

Further, criminal proceedings under the Indian Penal Code, 1806 can also be initiated under section 420 for cheating and also section 406 for criminal breach . Additionally, the suffering partner can also initiate a civil suit for recovery of the money lent.

To recieve any reward under the aforementioned provisions, it must be proved to the satisfaction of court, along with evidence, that money was indeed lent to the partner or such other proof as may be necessary.

As a last resort, one may always opt for dissolution of partnership as well.

Best regards,
Megha