Company law



I sent a legal notice for the recovery of money. But after is sent the notice i came to know that the company is already wounded up.

Now what shall i do ? How will i revover my money ? are directors of the company liable to repy my money



BE/ LLM in Corporate Laws

Whether the company is still under Liquidation or the Liquidation proceedings are complete and company dissolved? If the company has been dissolved and you got nothing from the company, then your money is lost because the company's assets were not sufficient to pay all the debts. So only the priority depts were paid and the rest of the creditors have lost their money.

But if the company is under liquidation, you have to submit your claim to the Official Liquidator appointed by the Court to oversee the winding up of the company. The Liquidator will place you in the category of creditor like first priority, second priority etc.Depending upon the assets and liabilities of the company, you will get full, partial or in worst case nil money.


If it has been under fast track exit ...then the directors must have executed an affidavit for presonal liabilities for debt....check it out




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