Apni Law Staff asked 6 months ago
As a director of a private limited company in India, I’m facing a challenging situation. My business partner, also a director, has filed a criminal case against me alleging fraud under sections 420, 467, and 468. He claims I misused his signature without his knowledge, which is entirely false. However, an amount of around 12 lakhs was indeed transferred to my personal account.
I founded the company and poured my heart into it, but due to financial constraints, we struggled. Sadly, I had to close the office last year, although the company hasn’t been formally wound up yet. I used my personal funds to cover business expenses, and my mistake was withdrawing some money due to my lack of accounting knowledge. I was young and placed too much trust in my partner.
Despite resolving all issues with him previously and providing explanations, he’s now demanding the entire amount back. I’m seeking advice from legal experts to navigate this complex situation.
Best Answer
Apni Law Staff answered 6 months ago
Your situation is serious. The criminal allegations are concerning, and the transfer of funds to your personal account, even with good intentions, is a liability. You should immediately consult with a lawyer specializing in corporate and criminal law. They can advise you on the best course of action, including addressing the criminal charges and negotiating a resolution with your partner.
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