Here is a query from a businessman who has lost a sum of money by entering into a contract with a Chinese Company.
The business man had contacted a Chinese Enterprise for importing a certain type of electronic goods. As an advance a sum of Rs.70,000/- was paid to the company for supply of goods.
However, the company did not supply any products nor refunded the advance amount.
The businessman was totally in a confused state of mind and was helpless in recovering the sum paid.
Hereby, on behalf of the businessman here is my request to you all to suggest me any supporting authority viz., Any Association e.t.c., by registering the business enterprise could help in facing such situations with the support of the association. Also please provide us a guidance as to, the basic functions/activities to be performed by a newly formed business concern having regard to the transactions with foreign entities especially imports to safeguard ourself from all the respects.
Further Info: The business concern is based in Karnataka.