Unpaid employee claims on dissolution of a pvt. ltd company
3 years ago
I have been an employee of a company that wound up. Was asked to submit an affidavit with pending salary and other claims which was complied with. I recently received an intimation from the NCLT appointed IRP informing that the realisation from assets were not sufficient to meet even the claims of financial creditors fully. Hence, the H'ble NCLT, Bangalore passed an order for dissolution of the company and directed the IRP to inform all Statutory Authorities, including the ROC regarding the dissolution. We have been informed that operational creditors, which includes employees should not expect any payments. My aggregate claims are a significant amount and I am looking for a legal recourse. Please help.
The official liquidated can arrange for such arrears of claims.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
Employees of an insolvent company have an option to launch corporate insolvency resolution process against their ex-employer or the debtor of the insolvent company and compel him/her to pay their dues. For this, employees have to firstly send a demand notice to the insolvent company stating that they have not been paid yet.
You should firstly send a demand notice to the insolvent company stating that they have not been paid yet. Since, Employees of an insolvent company have an option to launch corporate insolvency resolution process against their ex-employer or the debtor of the insolvent company and compel him/her to pay their dues.
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