Recovery of funds
6 months ago
I have deposited around 15 lacs on the name of welfare task and multiple correction and now asked to pay 30 % tax upfront which will be refunded with deposit amount whereas I told them to deduct the tax amount and pay the balance but they refused and told that they only pay 5000 and rest amount will go to charity. But they are not ready to give my funds back. Company name is Mullen Lowe Lintas Group India. All the payment has been deposited to different accounts some of them are individual and some of them are non individual
A.Dear Client,
As stated by you in your query, if you possess documentary proof of all financial transactions and details of the identity of the Company along with copies of all relevant correspondence made between you and the Company, then you can opt for the following steps to resolve the issue. Step -1) serve a legal notice to the Company at their registered address claiming a refund of the entire money deposited with them for the purpose, Step - 2) file an offline Complaint against the Company u/s.35 of the Consumer Protection Act, 2019 before the Dist. Consumer Commission under whose jurisdiction a branch office of the Company is in operation for the same cause of action, i.e, deficiency in service and unfair trade practice, claiming a refund of the entire money paid for the purpose along with compensation for harassment. Step - 3), file a criminal suit against the Company u/s.420 of IPC for cheating and u/s.406 of IPC for criminal breach of trust claiming recovery of money. Step - 4) Apart, you can file a civil suit against the Company under the Code of Civil Procedure 1908 (CPC). It is a summary suit ( under Order 37, Code of Civil Procedure) that offers speedy disposal of the suit. Summary proceedings are legal remedies for recovering money, resolving business transactions, and resolving contractual disputes. Step - 5) Apart from these steps, if the Company is registered under the Companies Act, then you can file a complaint before the Serious Fraud Investigation Office(SFIO), a wing of the Ministry of Corporate Affairs that investigates and prosecutes complex corporate frauds assigned under Section 212 of Companies Act 2013 on receipt of a complaint at its regional and head office at Delhi and other state capitals. So, based on the evidence and merit in your claim, you need to consult with an Advocate to take appropriate legal steps for recovery of money from the company
As stated by you in your query, if you possess documentary proof of all financial transactions and details of the identity of the Company along with copies of all relevant correspondence made between you and the Company, then you can opt for the following steps to resolve the issue. Step -1) serve a legal notice to the Company at their registered address claiming a refund of the entire money deposited with them for the purpose, Step - 2) file an offline Complaint against the Company u/s.35 of the Consumer Protection Act, 2019 before the Dist. Consumer Commission under whose jurisdiction a branch office of the Company is in operation for the same cause of action, i.e, deficiency in service and unfair trade practice, claiming a refund of the entire money paid for the purpose along with compensation for harassment. Step - 3), file a criminal suit against the Company u/s.420 of IPC for cheating and u/s.406 of IPC for criminal breach of trust claiming recovery of money. Step - 4) Apart, you can file a civil suit against the Company under the Code of Civil Procedure 1908 (CPC). It is a summary suit ( under Order 37, Code of Civil Procedure) that offers speedy disposal of the suit. Summary proceedings are legal remedies for recovering money, resolving business transactions, and resolving contractual disputes. Step - 5) Apart from these steps, if the Company is registered under the Companies Act, then you can file a complaint before the Serious Fraud Investigation Office(SFIO), a wing of the Ministry of Corporate Affairs that investigates and prosecutes complex corporate frauds assigned under Section 212 of Companies Act 2013 on receipt of a complaint at its regional and head office at Delhi and other state capitals. So, based on the evidence and merit in your claim, you need to consult with an Advocate to take appropriate legal steps for recovery of money from the company
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A.Dear
Gather Documentation: Collect all relevant documents, including payment receipts, emails, and any written agreements or communication with the company. These will be crucial in supporting your case.
Review the Agreement: Carefully review any agreements or terms and conditions you entered into with the company. Look for clauses related to refunds, taxes, or any other relevant terms.
Attempt Negotiation: Try to negotiate with the company to resolve the issue amicably. Express your concerns and expectations clearly in writing and request a resolution.
File a Complaint: If negotiation fails, consider filing a complaint with relevant authorities. In India, you can approach the Consumer Protection Forum, the Reserve Bank of India (RBI), or other regulatory bodies that oversee financial transactions and consumer protection.
Regards
Gather Documentation: Collect all relevant documents, including payment receipts, emails, and any written agreements or communication with the company. These will be crucial in supporting your case.
Review the Agreement: Carefully review any agreements or terms and conditions you entered into with the company. Look for clauses related to refunds, taxes, or any other relevant terms.
Attempt Negotiation: Try to negotiate with the company to resolve the issue amicably. Express your concerns and expectations clearly in writing and request a resolution.
File a Complaint: If negotiation fails, consider filing a complaint with relevant authorities. In India, you can approach the Consumer Protection Forum, the Reserve Bank of India (RBI), or other regulatory bodies that oversee financial transactions and consumer protection.
Regards
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