Ep for money decree

Querist : Anonymous (Querist) 30 April 2020 This query is : Resolved
dear learned experts,

Shortly I plan to file an EP against a public limited company for executing an arbital award (money). But I learn that the company is left with no assets to meet my claim.

While filing the case,can I pray the court for piercing the corporate veil of the company and make the Directors personally liable too,if I can submit proof for such misdeeds of the Directors ?

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Isaac Gabriel (Expert) 30 April 2020
You are at liberty to file the EP

Message likes : 1 times

Querist : Anonymous (Querist) 30 April 2020
expert Isaac Gabriel pl ! answer to the 2nd part of the question awaited Sir !

Raj Kumar Makkad (Expert) 30 April 2020
In Public Limited Companies, the directors have limited liability hence they cannot be held accountable personally for the claims.

Raj Kumar Makkad (Expert) 30 April 2020
You may also go for the Insolvancy of the company in high court. The recent Insolvency and Bankruptcy Code (IBC) has been a big sigh of relief for MSMEs and small creditors, which is meant to ensure the faster debt recovery or liquidation process.

Dr J C Vashista (Expert) 01 May 2020
What is the problem / hitch / apprehension for non-filing of the execution petition ? Let the judgment debtors file their objection in response to your petition.

P. Venu (Expert) 01 May 2020
Yes, file the EP. Further steps depends on the reply they file.

Rajendra K Goyal (Expert) 01 May 2020
You can file EP against the Company in the court.

You can move to NCLT for liquidation . / bankruptcy proceedings against the company.

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