Your wife cannot settle the account Belonging to someone else without a valid power of attorney. Also, the power of attorney for such purposes need to be registered. In absence of the registered POA, the transaction done by your deceased wife is void and can definitely be challenged. You can fight this in court of law on merits.
Cheating to refund less amount of our deposits
In Vellore district, a local finance firm lied and repaid only part amount for our deposits. We have invested in their fixed deposit bonds, me, my wife and 2 minor children at that time. Our deposits grow with them for many years and total value was high. I went to abroad for work, my wife managed the finances. In my absence, they lied to her that they incur heavy loss due to unpaid loans, will be closing the firm, total loss to all. My wife believed in this lie. Afraid of total loss, she agreed for a settlement for our total money, she signed for 45% of our total value and obtained a DD for the settlement amount. I was not in India, had not signed anything with them, also did not discussed with them any time. Later we discovered their lies and found they are very rich. Meanwhile my wife died due to bad health, 10 years ago. Now I want to make a claim with my 2 children for the value of our money calculated with the interest rate in the FD. We can argue that we were not aware of the agreement, my wife cannot sign for our money. We discovered this agreement now; we are contesting it! As they are very rich, some way to bring them to an agreement and recover our money due or part of it. Will the court will accept our case, how to proceed?
Asked 1 month ago in Criminal Law
Religion: Hindu
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15 Answers
What were you doing for 10 years ?
suit if any to recover unpaid amount should have been filed within period of 3 years
your claim is barred by limitation
Firstly lodge a complaint with police and thereafter file consumer complaint or suit for recovery and damages in order to recover the balance amount.
Sir, you would have to check with the limitation period, if you fall in that period, you definitely have a case here.
looks very difficult
the law of limitation is staring at you
your wife died 10 years back. So that means the settlement with her happened more than 10 years back
you could have claimed on basis of fraud and misrepresentation but the clock has already crossed the point till which you could have taken any legal steps against that firm
the cause of action, be it for filing a civil or criminal case, arose long time back, that is, more than a decade back. If you now take steps , any such action will be considered to be a stale claim and there is high likelihood that your claim will be rejected
nevertheless approach a local lawyer and try your luck
In this situation, you have a potential legal case to reclaim the full deposit amount with accrued interest. Here’s a possible course of action:
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File a Civil Suit for Recovery:
- You and your children can file a civil suit for recovery of the full deposit amount, plus interest, on the grounds that you were not a party to the agreement signed by your wife.
- You can argue that the agreement was based on misrepresentation and that your wife was deceived into settling for less than the full amount.
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Claim Misrepresentation and Fraud:
- Since the finance firm lied about its financial situation, you can claim fraud. Misrepresentation of facts to induce settlement, especially with no direct agreement from you or your children, strengthens your case.
- You can include evidence of the firm’s actual financial strength if available, as this supports your claim of being misled.
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Challenge the Settlement Agreement’s Validity:
- Argue that the settlement, signed solely by your wife, is invalid for your individual and minor children’s funds, as it lacked your consent. Since your children were minors, any settlement impacting their funds should have judicial approval.
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Consult a Lawyer Specialized in Financial Disputes:
- A legal expert can help you draft a strong case and negotiate with the firm, potentially out of court. They can also help expedite the case by highlighting the firm’s misconduct.
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Consider a Consumer Court Case:
- Since this involves financial services, consumer protection laws may apply, and consumer courts often handle cases of misrepresentation and unfair financial practices efficiently.
With this approach, you increase the likelihood of recovering a significant portion of your deposit. Courts can indeed accept such cases, particularly when there’s evidence of misrepresentation, and a well-prepared case could lead to a favorable outcome.
It appears that you accepted the settlement that your wife entered with the financiers at that period of time, whatever reason you may state now.
Now you found that the financiers are rich but they intentionally played fraud on your wife.
From the way you remained silent over a decade on this, clearly indicates that indirectly you were a party to the settlement.
Besides the claim whatsoever should be made within three years from the date of settlement, now it is barred by limitation too.
It cannot be definitely stated that you can get any relief even you may approach court at this stage.
HOWEVER YOU MAY CONSULT A LAWYER WITH ALL RELEVANT PAPERS AND LOOK FOR SUGGESTIONS.
Yes it is very late, but me and my children has not signed anything, nor contacted them anytime. My wife did not informed as she was in doubt on the deal she signed. I can argue that I was in grief for my wife death, plus busy works, problems, forgot on this finance managed by her. Now going through her archives, my children discovered it. Is this point is acceptable for courts?
Asked 1 month ago
Yes, if you hire a good Advocate, he's able to convince the Court and get your delay condoned, you will be back in the case stronger and probably you'll get justice.
- As per law, the limitation period for filing a criminal or civil case is maximum limited to 3 years from the date of cause of action.
- Further, as your wife has already settled the dispute on your behalf then there is mere chances to recover the remaining amount.
- Further , if she had not taken your consent , then you can file a case against him on the ground of date of knowledge presently due to living abroad.
- However, you can send a legal notice to him before taking any legal action against him.
Refund of amount in short is not cheating as your wife herself had signed the settlement and had accordingly received the amount in terms of settlement. So no case of cheating is made out. Matter is already more than 10 years and till date you had never raised any objection nor raised any claim. Every claim stand barred by limitation.Your plea us not sustainable after 10 years. Your points have various loopholes which is difficult to be covered.
The situation is that any claim in pursuance is very badly barred by limitation.
However your lawyer may have any other different suggestions to rattle and put pressure on the finance company, hence you discuss at length with your advocate and proceed as suggested on all such further issues.
You can file a civil suit for recovery of said amount and also file a criminal complaint or FIR if the intention was of cheating since inception
Frankly no .
if you did not receive your money you should have sued the firm within period of 3 years
Yes, courts can consider your reasons for the delay if you present them clearly:
Now going through her archives, my children discovered it.
the above can be the starting point of your cause of action
so you can impute knowledge about the fraud to yourself only recently when your children came across certain documents
this may push the limitation period and you can have a claim
but please know that your claim will be resisted by the other side mainly on the ground of delay. so be prepared for it.