@ Anil Kumar,
The financial crisis may be mentioned so as to claim there is no money to pay!
However there are rules and laws for closure, restructuring, lay off, retrenchment!
You have not posted the basic information that is required.
You may approach an able counsel specialzing in labor-service matters with all docs on record and give inputs and get a considered opinion on merits and options.
You may also carry standing orders (model-certified), service rules and regulations applicable to establishment and your designation.
Your counsel may ask you structured questions and opine which enactment shall apply to your office/div/dept/establishment and that whether you are covered by the def. of 'Workman' as in ID Act, 'Employee' as in Shops and Estbs Act.
Ideally in case of termination the employer should supply the service certificate, relieving letter,FnF statement/dues on LWD.
You may download the proof of attendance,NO Tasks pending, NOC/NDC,handover/submission of charge and assets etc.