Fraudulent initiation of Insolvency Petition
3 years ago
Hi,
I am Dharma, a software developer & budding filmmaker. I am writing to you to seek help in exposing an act of fraud, but those people trying to defraud that act in eyes of law.
Bokkasam Somanath & Bokkasam Suvarna, residents of Anantapur (Andhra Pradesh) are running a sarees shop named “Suvarna Sarees” and also running some chits. They are doing this for more than decade now.
Recently, Bokkasam Somanath absconded from Anantapur without paying anyone their chit fund money. Suvarna, his wife, who’s now running business as it is, initially lied about her husband whereabouts but eventually she started saying Somanath is filing Insolvency Petition and nobody should ask them for their money.
She is still running their business, Suvarna Sarees with all new stock of worth in lakhs successfully. When we questioned her about successfully running business, she is claiming that “Suvarna Sarees” is her business and it has nothing to do with her husband’s Insolvency Petition. But, I’ll provide you some facts about this.
Bokkasam Somanath Recently Closed GST and tried to transfer ownership to his wife, Suvarna.
Plus, if we observe the IP notice they’re forwarding through WhatsApp, we can see that they planned to do this on 20 December 2020. But, they waited for 3 months, took money from us, took nearly 40+ lakh debts in Jan, Feb, March of 2021 and now they’re initiating Insolvency Petition.
They are doing this all intentionally. They took money from us. Now they are doing business with our money. But, they’re trying to defraud this in eyes of law. How can I fight ?
Ankur Goel @ Complete Law Shield
Responded 2 years ago
the ownership earlier was whom and now its transferred ?
When it was transferred ?
There can be case of cheating and fraud depending on answer.
you can challenge IP by making them party or by making complaint.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
if, any person initiates the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, as the case may be, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees.
So if you have proof and docs you can filea petition.
if you like my answer pls give me a good rating.
if, any person initiates the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, as the case may be, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees.
So if you have proof and docs you can filea petition.
if you like my answer pls give me a good rating.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
if, any person initiates the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, as the case may be, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees.
So if you have proof and docs you can filea petition.
if you like my answer pls give me a good rating.
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