Business Loss and Investor trouble
2 years ago
I started a business and my friend helped in investing certain amount approx 4 Lakhs and business went on loss where we tried doing 4 projects, Investing to Dialer, Voip & Data for calling USA for Braces Campaign.
Now the friend asking me to pay the entire investment on one shot and threatening will file a complaint against me.
Not accepting the loss as well./
There was no agreement between me and my friend and investment was transferred to my personal savings account.
I am ready to pay back but need time as my condition is very bad ion LOSS.
I am from Karnataka and my friend is from Tamil Nadu.
A.You should not have started a business without having proper documents and agreement. For want of these docs you may to bear all loss to yourself and pay him back the money. What you can do is get in touch with a lawyer and prepare an MoU signed by you and him wherein you say that you will pay the amount gradually and he should not trouble you.
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