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need legal advice

Oct 14, 2008 4:08 am

re: re: re: re: need legal advice

Vijay Nair

Dear Dushyant,

I guess since on and after the date of accrual and non-payment, it can be classified as a debt, subject to satisfying other technical parameters, you may initiate an action to get the company wound up in terms of the provisions of the Companies Act, 1956. This definitely is not a "recovery" proceeding, but the threat of a liquidator being appointed for a solvent company would be large enough for them to settle. The Court-fee payable is also nominal and you may see a speedy resolution.

One more suggestion. If there are more than one Petition, the impact is more.

Vijay Nair, Partner
KNM & Partners, Law Offices
http://www.knm.in/

Private Reply to Vijay Nair (new win)

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