1. #1
    Unregistered

    Salary dues but company wind up and directors procrastinating by request of pay

    I was working with a Pvt Ltd company from last 4 years. Last month due to changes in regulatory policies and heavy financial losses the company decided to wind up the business and sell all it’s immovable assets. All the employees were laid-off and not full and final settlement for most of them is still pending. I have contacted the company directors full my dues but they have been procrastinating this from many days. Please suggest a way out for this.

  2. #2
    prabhu Array
    Join Date
    Jul 2012
    Posts
    453

    Re: Salary dues but company wind up and directors procrastinating by request of pay

    Hi Sir,


    You can claim to the company by contacting the respective heads in direct and demand for explanations for the delay . Usually companies should releive all the arrear amount after resignation or termination of the employee . Failure to do so can be given some time period . Else you can contact consumer court arrange a advocate and issue Bit notice to the company . Surely at that case company will have to answer . If the case continues , it may take some time period to get the money after successful winning of the case . Plan well get some counsellors advice and proceed on this since money matters .


    Thanks !!!

  3. #3
    Chittaranjan Array
    Join Date
    Jul 2012
    Posts
    658

    Re: Salary dues but company wind up and directors procrastinating by request of pay

    When a company is going for liquidation /wind up for huge financial losses then all debtors like you go to court.then court appoint a third party for accounting its property value.

    After getting all claims the available amount by way of selling/auctioning property is distributed among the debtors as proportionate basis.and the company is declared as insolvent.

    Thank you,

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