Urgent Legal Advice On Case Of Being Cheated In Land And JV Deal | Vkeel - Free Legal Advice

***********r

Kolkata

I'm 53 & had entered into a partnership with 2 other men, to form a company 7 years back (end of 2013), using all my savings along with some loan. We then entered into a real estate JV with a land-owner, introduced by one of the partners, and the JV was registered. The company paid him 50 lacs advance as part of the deal. The JV did not get completed because the land owner failed to handover the land in the agreed upon condition (Sali to Vaastu conversion was not done). Hence, we took steps to terminate the JV according to JV agreement clauses. The land owner kept promising that the money would be returned, as per JV agreement (which had a clause for cancellation/termination under specific conditions). After that, arbitration began, and again, he agreed to return the money, the record of which is in the arbitration documents. I along with the other partners kept waiting. However, I soon realised and started doubting that the other partners might also be involved with the land owner.

Expert's Answers(4)

Advocate Akhil Kumar Sinha
Ranchi, Jharkhand

1 Client Ratings

It appears that your partner in Collusion with the landowner have hatched conspiracy against you and they have played a game against you,misled you,cheated you and taken your money. For that you should lodge fIR against these offenders and file a suit in the Civil Court as well with all details, so that you may get the desired relief. Alternatively, you may make an application to the the principal district judge for pre-litigation mediation and settlement of the matter.

July 18, 2020
Advocate Kajal Bhatia
New Delhi, Delhi

13 Client Ratings

Dear Anita Poddar, You entered into an arbitration, kindly elaborate on the outcome of that proceedings, was it related to return the money or completion of JV? Also, do you now feel that other partners may collude with the landowner and run away with your money? They can't because you all entered into it and everyone's money is at stake, assuming you would have contributed 1/3rd of the share. Need a little more information for suggesting an effective remedy. Best,

July 18, 2020
xxxxx cxxxxx
Bengaluru, Karnataka

184 Client Ratings

You may approach a civil court.

July 17, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

Under the Arbitration and Reconciliation law, if the facts were admitted by the land owner and agreed to refund the money advanced to him that fact can be got implemented by putting the law in to motion. You have to knock the door of the Court for implementation of the Arbitral Proceedings. Please Give me Rank Five, Follow me and contact me for further discussion and explanation, if required.

July 17, 2020