Legal Question in Bankruptcy in India

I have been given PDC's for my pending salary (I've resigned) amounting 10.5 lacs spread over Feb'10 to Dec'2010. If the company closes down due to bankruptcy then what legal provision are there to safeguard my money? Thanks,


Asked on 10/28/09, 11:26 am

3 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

yes, you can file a suit for recovery and at the same time can file a criminal complaint u/s 138 of Negotiable Instruments Act.

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Answered on 10/28/09, 12:45 pm
Seshadri Srinivasan www.lawconcern.com

It is far better to refuse the PDC and approach the company through a lawyer and ask for immediate money even if it is 50% of the total dues to you.

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Answered on 10/28/09, 8:33 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Your question at this stage is premature. the question of remedy may arise only after the cheque is not encashed.

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Answered on 10/28/09, 9:11 pm


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