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vijay tandon   02 June 2017

To file a petition for seeking winding up of company which has not paid my salary dues

Hi in delhi high court i need to file a petition for seeking winding up of company which has not paid my salary dues, for additional info, already a petition was filed by vendor for outtanding payments OL was appointed but later it was withdrawn because of settlement please let me know who can help me and what should me average fee for this legal service


Learning

 13 Replies

Kumar Doab (FIN)     02 June 2017

While posting such queries employee should post basic information! 



What is this establishment; Commercial, Industrial? 


What is its nature of business say; IT, ITeS?


How many persons are employed in it? 
What is your designation and nature of duties? 



How many persons report to you? 



Do you have any power to sanction leave/increment/appoint/terminate/appraise etc etc ?

You are in which state? 
Since how many months you are working? 
Do standing orders (model/certified) apply to establishment and your designation?


What is notice period as per appointment letter/offer letter and what was notice period tendered by you?



Was ever any stinker, memo, show cause notice on any misconduct issued to you? 


Are you a member of employee’s/trade unions?

Ms.Usha Kapoor (CEO)     03 June 2017

  ii. CREDITORS VOLUNTARILY WINDING UP  
 
Where the resolution for winding up has been passed, but the Board of Directors are not in a position to give a declaration on the liability of company, they may call a meeting of creditors, for the purpose of winding up. (500)
 
 
It is the duty of Board of Directors, to present a full statement of company’s affairs, and list of creditors alongwith their dues, before the meeting of creditors. [500 (3)]
 
 
Whatever resolution, the company passes in creditor's meeting, shall be given to the Registrar within ten days of its passing. (501)
 
       
  WHO SHALL CARRY OUT THE WINDING UP PROCEDURE ? & WHAT SHALL BE THE PROCEDURE?  
       
 
Company in the general meeting [in which resolution for winding up is passed], and the creditors in their meeting, appoint liquidator. They may either agree on one liquidator, or if two names are suggested, then liquidator appointed by creditor shall act. (502)
 
 
Any director, member or creditor may approach the court, for direction that:
 
    1.Liquidator appointed in general meeting shall act, or  
    2.He shall act jointly with liquidator appointed by creditor, or  
    3.Appointing official liquidator, or  
    4.Some other person to be appointed as liquidator. [502 (2)]  
     
The remuneration of liquidator shall be fixed by the creditors, or by the court. (504)
 
     
On appointment of liquidator, all the power of Board of Directors shall cease. (505)
 
 
In case, the winding up procedure, takes more than one year, then he will have to call a general meeting, and meeting of creditors, at the end of each year, and he shall present, a complete account of the procedure, and the status / position of liquidation (505).
 
     
  WHEN AFFAIRS OF THE COMPANY ARE FULLY WOUND UP ( 509)  
 
The liquidator shall take the following steps, when affair of the company are fully wound up:
 
       
 
Call a general meeting, and meeting of creditors, and lay before it, complete picture of accounts, winding up procedure and how the properties of company are disposed of.
 
 
The meeting shall be called by advertisement, specifying the time, place and object of the meeting.
 
 
The liquidator shall send to the Registrar and official liquidator copy of account, within one week after the meeting.
 
 
If from the report, official liquidator comes to the conclusion, that affairs of the company are not being carried in manner prejudicial to the interest of it’s members or public, then the company shall be deemed to be dissolved, from the date of report to the court.
 
 
However, if official liquidator comes to a finding, that affairs have been carried in a manner prejudicial to intent of members or public, and then court may direct the liquidator to investigate further.
 
 
The Central Govt. shall keep a cognizance over the functioning of official liquidator, and may require him to answer any inquiry. (463)
 
     
  DISTRIBUTION OF PROPERTY OF COMPANY ON VOLUNTARILY WINDING UP [BOTH MEMBERS AND CREDITORS VOLUNTARILY WINDING UP]  
 
Once the company is fully wound up, and assets of the company sold or distributed, the proceedings collected are utilised to pay off the liabilities. The proceedings so collected shall be utilised to pay off the creditors in equal proportion. Thereafter any money or property left may be distributed among members according to their rights and interests in the company.
 
     
       
       
 
 

Ms.Usha Kapoor (CEO)     03 June 2017

  ii. CREDITORS VOLUNTARILY WINDING UP  
 
Where the resolution for winding up has been passed, but the Board of Directors are not in a position to give a declaration on the liability of company, they may call a meeting of creditors, for the purpose of winding up. (500)
 
 
It is the duty of Board of Directors, to present a full statement of company’s affairs, and list of creditors alongwith their dues, before the meeting of creditors. [500 (3)]
 
 
Whatever resolution, the company passes in creditor's meeting, shall be given to the Registrar within ten days of its passing. (501)
 
       
  WHO SHALL CARRY OUT THE WINDING UP PROCEDURE ? & WHAT SHALL BE THE PROCEDURE?  
       
 
Company in the general meeting [in which resolution for winding up is passed], and the creditors in their meeting, appoint liquidator. They may either agree on one liquidator, or if two names are suggested, then liquidator appointed by creditor shall act. (502)
 
 
Any director, member or creditor may approach the court, for direction that:
 
    1.Liquidator appointed in general meeting shall act, or  
    2.He shall act jointly with liquidator appointed by creditor, or  
    3.Appointing official liquidator, or  
    4.Some other person to be appointed as liquidator. [502 (2)]  
     
The remuneration of liquidator shall be fixed by the creditors, or by the court. (504)
 
     
On appointment of liquidator, all the power of Board of Directors shall cease. (505)
 
 
In case, the winding up procedure, takes more than one year, then he will have to call a general meeting, and meeting of creditors, at the end of each year, and he shall present, a complete account of the procedure, and the status / position of liquidation (505).
 
     
  WHEN AFFAIRS OF THE COMPANY ARE FULLY WOUND UP ( 509)  
 
The liquidator shall take the following steps, when affair of the company are fully wound up:
 
       
 
Call a general meeting, and meeting of creditors, and lay before it, complete picture of accounts, winding up procedure and how the properties of company are disposed of.
 
 
The meeting shall be called by advertisement, specifying the time, place and object of the meeting.
 
 
The liquidator shall send to the Registrar and official liquidator copy of account, within one week after the meeting.
 
 
If from the report, official liquidator comes to the conclusion, that affairs of the company are not being carried in manner prejudicial to the interest of it’s members or public, then the company shall be deemed to be dissolved, from the date of report to the court.
 
 
However, if official liquidator comes to a finding, that affairs have been carried in a manner prejudicial to intent of members or public, and then court may direct the liquidator to investigate further.
 
 
The Central Govt. shall keep a cognizance over the functioning of official liquidator, and may require him to answer any inquiry. (463)
 
     
  DISTRIBUTION OF PROPERTY OF COMPANY ON VOLUNTARILY WINDING UP [BOTH MEMBERS AND CREDITORS VOLUNTARILY WINDING UP]  
 
Once the company is fully wound up, and assets of the company sold or distributed, the proceedings collected are utilised to pay off the liabilities. The proceedings so collected shall be utilised to pay off the creditors in equal proportion. Thereafter any money or property left may be distributed among members according to their rights and interests in the company.
 
     
       
       
 
 

Adv. Vaishali Harish Gore (job)     03 June 2017

Does salary of entore staff is not paid by the company or only yours salary is hols?

vijay tandon   03 June 2017

Hi Vaishali

salary of  almost whole staff ws not paid for around year and half  some left after 2-5 months  some one like me continued for around 15 months before CEO told that funding can''t be arranged  then i resigned  but kept on supporting them  based on CEO words that i will be paid once funding comes  but they did not paid

now a vendor  filed apettion in delhi high court official liquaidator was appointed but within Six months Vendors payments were made and official liquaidator was released i met official liquidator , he said form our side issue is closed now they can't do any thing directly till court again instructs them to do some thing

 Regards

vijay 

vijay tandon   03 June 2017

What is this establishment; Commercial, Industrial? 

subsidiary of  US MNC for telecom services as BSNL partner

thnaks for response 

What is its nature of business say; IT, ITeS?

WIMAX broadband Telecom services as BSNL franchise partner

How many persons are employed in it?  What is your designation and nature of duties?  How many persons report to you? 

at time of peak of operations in 2010 around 15O people now operations closed

Do you have any power to sanction leave/increment/appoint/terminate/appraise etc etc ?

i was appointed has  a manger having 12-15 reportees  and done conformation appriasals for team members

You are in which state? 

Gurgaon haryana

Since how mahny months you are working? 

from nov 2008 to july 2011

Do standing orders (model/certified) apply to establishment and your designation?

 

What is notice period as per appointment letter/offer letter and what was notice period tendered by you?

3 Monts both side

Was ever any stinker, memo, show cause notice on any misconduct issued to you? 

no i was one of few retained after downsizing and was manging key fundtion of billing and revenue managment 

Are you a member of employee’s/trade unions?

no

In past even in high court company did not came for first 2 hearing till Winfing up pettion was acception and official liquidator was appointed

2 notices has been sent by labour commissioner office no response from company 

regards

vijay

 

Kumar Doab (FIN)     03 June 2017

Why do you straight way want to jump to Winding UP petition?

Before it Statutory Notice has to be issued.

Local counsel specializing in such matters can help you.

Kumar Doab (FIN)     03 June 2017

Inquire on your own.

Avoid hiring lawyers from online portals like LCI.

There are unlimited number of threads by unsuspecting querists/authors that have been fleeced.

vijay tandon   03 June 2017

They wont listen for any Govt agency 

they have done in past  

 2 notice form labour commsionner office no response for salary oustandings

company winding up is only way to let them come  and discuss 2 directors are NRi and US citizens

sending formal 2-3 notice  will be a prcoess which can be follwed by any local lawyer

Kumar Doab (FIN)     03 June 2017

Originally posted by : vijay tandon
What is this establishment; Commercial, Industrial? 

subsidiary of  US MNC for telecom services as BSNL partner

thnaks for response 

What is its nature of business say; IT, ITeS?

WIMAX broadband Telecom services as BSNL franchise partner

How many persons are employed in it?  What is your designation and nature of duties?  How many persons report to you? 

at time of peak of operations in 2010 around 15O people now operations closed

Do you have any power to sanction leave/increment/appoint/terminate/appraise etc etc ?

i was appointed has  a manger having 12-15 reportees  and done conformation appriasals for team members

You are in which state? 

Gurgaon haryana

Since how mahny months you are working? 

from nov 2008 to july 2011

Do standing orders (model/certified) apply to establishment and your designation?

 

What is notice period as per appointment letter/offer letter and what was notice period tendered by you?

3 Monts both side

Was ever any stinker, memo, show cause notice on any misconduct issued to you? 

no i was one of few retained after downsizing and was manging key fundtion of billing and revenue managment 

Are you a member of employee’s/trade unions?

no

In past even in high court company did not came for first 2 hearing till Winfing up pettion was acception and official liquidator was appointed

2 notices has been sent by labour commissioner office no response from company 

regards

vijay

 

 

The company has already been closed.

You have separated almost 6 years back.

You may discuss in person with a very able counsel specializing in labor/Service matters.............................

N.K.Assumi (Advocate)     04 June 2017

File a petition in the court to compel the company to release your salary, so that the court will appoint an official liquidator to act on your behalf.

Adv. Vaishali Harish Gore (job)     05 June 2017

do followup with the labour commisioer office, No one is beyound the law. All the employees who not received the salary are the applicants in the said matter

Kumar Doab (FIN)     05 June 2017

Who is mentioned as Executor in the WILL?


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