Franchisee Areement Breach
2 years ago
Sir i have invested 25 lakhs to one prvate ltd company. It is a registered company in chennai. They given agreement for 25 lakshs investment to that company which states that every month i will get 2.5 Lakhs as profit share upto 10 months. other than this 11 th month i will get my capital return back fully 25 lakhs. Alo if they cant able to give payout for more than 60 days. they will return capital amount 25 lakhs alsong with interest 8% to me. I receiver continuoulsy 4 months. Then after i dint receive any profit share last 6 month onwards. They are not giving my capital back also. Toatally received 10 Lakhs via profit share only so far. how can i get my money back urgently. he is polically strong person. so i cant handly him via police station. Can i approch court or Economic offence wing which is the best option for getting money back withing 6 month.
A.Dear Sir,
The agreement can entered by you is illegal since you are not supposed to get interest more than the rates prescribed by the RBI and in the similar manner such company cannot lure the people offering more interest rates which are above the interest rates prescribed by the RBI. Without any legal hassles you may get postdated cheques from the Company atleast.
you can first send to the company a legal notice to claim back the money. If they do not still repay then you can either file a case and go proceed through a summary suit (Order 37 of Civil Procedure Code) as it is a faster mechanism used now to get back money or file a case for insolvency for debt recovery to the adjudicating authority.
Thank you.
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