I am a crypto currency trader in India since 2018. I have earned more than 5lakh in crypto asset, due to RBI ban I couldn't be able to transfer the amount in my bank. I have trustet someone whome I know. He is the son-in-law of my teacher and I transferred the entire amount as a loan to him without any legal process. When I asked him to return it he denied, also the teacher block my number. While I contacted him they are repeatedly threatened me for case of humiliation. What eill I do?
1) Sir you query is NOT clear. Where do you stay & where does your Teachers – son-in-laws stay ?
2) Before transferring the amount you should have contacted a lawyer, if the Teachers – son-in-laws stays out of India, Kindly forget the money as Bit-coin crypto currency trade is NOT valid in India & cannot be used as virtual currency.
3) Incase if you are having any recordings they can be of some use.
4) If the Transfer was made from your Bit-coin crypto currency account to his account you will have to acquire the statement.
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ADV. ANISH PALKAR (High Court)
Responded 2 years ago