Anonymous

3 years ago

I worked in an Indian MNC Telecom Company as National Manager for almost two years and left the company due to non payment of salary for 3 months due to winding up in 2014. The company owes me around Rs 11 Lakhs plus and when notice period is taken into account it would be over 15 Lakhs. If interest and other amounts are taken into account It would be around 35-40 Lakhs as per my calculation arrived with the help of a friend. The company finally wound up and taken over by OL attached to Delhi High Court. The Company/MD /Directors are figuring in the list of willful defaulters list. The directors of the company created ghost companies to avoid tax and siphoned out the money. Some of the movable & Immovable assets are auctioned and submitted to the Delhi High Court under a sealed cover but many of their assets were not taken into account by the OL which I have already brought to the knowledge of OL and CIC through RTI. The same is available in (DRT Order) various cases filed against the company by the creditors. The company also has the largest Data Centre (Moveable Assets) which is taken over under SARFAESI Act by one of the Bank.

I understand from various ruling of HSC that “The Supreme Court of India” ("SC") has held that in the event of liquidation of a company, claims of employees have to be considered by the Official Liquidator of the company and not by the Debt Recovery Tribunal ("DRT"). The Hon'ble Apex Court in the case ofPegasus Assets Reconstruction Private Limited Vs. Haryana Concast Limited & Anr., reported in (2016) 4 SCC 47 further observed that the interest of the workmen in respect of the dues payable to them under section 529 and 529A of the Companies Act has been adequately protected by the provisions of section 13(9) of the SARFAESI Act. The SARFAESI Act has specific provisions stipulating how the sale proceeds of secured assets of a company in liquidation have to be distributed in accordance with the provisions of section 529A of the Companies Act.

I have already submitted my claim to the OL long back in Form 67 as directed by the then OL. Presently, OL is in the final stage of calling for claims. I am looking for some legal help and follow up.