Family
3 years ago
My uncle gave me money for business. I started doing business and after 3 months he started asking for compound interest, Then I closed the business due to financial problem and now he is asking for the whole amount back. What to do?
A.Nothing to worry. It is not criminal offense. Ask to go to civil Court. Leisurely fight. You must have thick skin.
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Jagannath S Pawar
Responded 3 years ago
A.So simple. If you have closed the business, the capital invested came through money of uncle. He is asking for returns on his investment which is subject of mutual agreement. But if u r unable to pay interest or give him returns on his investment then you should pay back his amount. Closing of business is of no matter unless specifically so agreed before making such deal. It all depends on what and how u both agreed before start of business or investing in it.
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