money not returned
I have received payment from my client in Oct 2015 for freelance & I received money in Bitcoin payment form. Bitcoin is digital currency & it is used worldwide for payment or sending money. To receive bitcoin I used wallet name i got & their website was igot.com , they are holding my money since Oct 2015. I have contacted them & they keep saying due to some financial reason they can not process any pending withdrawal & they are doing everything to solve it. Now got their name changed to Bitlio & now they saying they can only convert my bitcoin into there IGX token & they give at the time of I receive my payment. In Oct 2015 Bitcoin price was $250 & today's price is nearly $2200. I have many friend they have same problem. Let me know if you can help me, me & my friends will like to file legal lawsuit against both company. So can you guide us what are the option we have. Chetan
Why are u waiting all these days. Immediately contact any advocate of Consumer Courts and file a complaint there. You and your friends definately get justice.
As a matter of fact, the law on these wallet service providing e-commerce industries is not settled yet. So, one needs to pursue the normal course of action. As in, with the generalised civil and criminal remedies available.
A Legal notice can be sent via an advocate - mentioning the harassment that you might have gone through in the past alongwith the legal repercussions that should follow against the wallet company for prolonging the issue. Because the money that you claim, should be alongwith the interest and from the back date.
In terms of Civil remedy, the option to file a civil suit - “suit for recovery of money” as per the Civil Procedure Code, is very much available. When the party does not respond or agree to with the terms and conditions mentioned in the legal notice.
Criminal remedy - You can then proceed to file an F.I.R in the nearest police station for Criminal breach of trust as stated under Section 405 of the Indian Penal Code. The averments made in the F.I.R. can remain the same in filing a criminal case by directly (via advocate) approaching the magistrate of the concerned court of law. Section 420 of the Indian Penal Code - cheating is also applicable.
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