AOA, I have a question. I have a small company in Lahore and we are 3 partners running the company. There is no written agreement between the partners and we are doing it on verbal basis. i am the proprietor of the company. We have simple formula that when we have any project, we all three contribute equal money as investment and we three divide equal profit and same is with loss. If there is loss we divide it on equal basis. Now one of my partner contributed PKR 40,000/- in February 2008 but that project was in loss so we all lost our money. But now after exact1 year he called me and asked his money back. He threatened me for consequences if i did not return his 40,000 rupees. my question is that can he lodge an FIR against me after one year or can he go to civil suit for recovery of his money? in my understanding, its not crime and we lost the money in project. if he go to civil suit, i can defend and show all the evidences off project cost but i am afraid of FIR. can FIR be lodged in this case? Plz guide. thanks
2 Answers from Attorneys
Good to know you contact us.
In this matter FIR cant be registered. Police cant interference in business matters. So dont worry and if he go to court then you can show evidence and satisfy the court. For more details contact us 03110476430
well you have a civil remedy to avoid any criminal charges or action. that way you will have your point placed on the record and all will be done in the jurisdiction of civil action and no criminal charges will be pressed.
can contact me 0323-4638149
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