Life is full of grey, randomness rules the life.
I was managing money for an acquaintance of mine. Because I am not a SEBI registered RIA, there was no LEGAL arrangement and the entire thing was set-up on TRUST.
Tragically he passed away all too sudden and all too soon.
As per our money management arrangement, he owed me a sum of Rs 1,90,000/
After allowing for a cooling period of 2 months, (losing such a young guy must be a HUGE shock to the family), I was approached by his brother and he in turn got me in touch with his wife.
His wife after dili daling the whole thing for a month finally came out of her shell and said in a gasping voice (over the phone)
“There is no liability clause in your contract with _________ and therefore I don’t see me paying this amount. I am starting my own IT firm and all my resources would be deployed there. I am financial domain myself, previously worked with ICICI and may be in future we can work together on money management, please tell me what should i do??
To which there was nothing to say and i told her just that
I just told her, “you came up with 03 excuses in 01 sentence. The question of liability clause does not arise as it was based on trust. please don’t dilute that by stupid excuses. I just wish that may god give u strength to come out of this loss and i wish you all the best for future endeavours.
And that was the end of that.
Was it wrong on her part to deny me my share. Was she suppose to honour the trust i had with her husband.
Was she right in her reasoning to save on cost. As of course lenders of all shapes and sizes must be showing up whereas people who owed them money would be hiding in their closets.
Well, i do not know the answer to the above question, but i do know that this amount is very meagre for them(they are from a well to do family).
And i also know that i cannot afford to waste any amount of time on BYGONES. Just writing this blog to get a closure on this topic.
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