Legal Question in Business Law in India

Sir,

My proprietorship firm which is into construction have not been paid thier dues for the last 3 years. There are several other firms whose status is similar. The defaulting firm only exists on paper and there are no offices. The main director of the company is a US citizen. We (16 companies) have filed a company petition in the Delhi HC against the defauling company. There was a order for liquidation of the company and an official liquidator appointed by the court but the company deposited the stipulated amount and got the order for liquidation vacated subsequently. The books of accounts have been siezed by the courts order and the official liquidator is processing the same for assessment of the dues.

My questions are:

1. If there is a ongoing case in DELHI HC under company law, will the statutes of limitation apply meaning I cannot file a civil suit after 3 years?

2. If I cannot file a civil suit and the company law suit is decided against me then what options will be left with me to pursue the recovery of my dues?

Your detailed answer to above questions will be highly appreciated.


Asked on 8/07/11, 10:16 am

4 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

depending on the circumstances you may join the ongoing case in HC as co petitioner. contact a local advocate.

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Answered on 8/07/11, 9:01 pm

Dear,

Kindly clarify, You along with other companies had filed winding up petition before the High court?

What was the order of the high court in which the liquidation was vacated.

and lastly if the liquidation orders have been vacated then how can official liquidator proceed further to assess the claims.

We need to peruse the relevant orders of the High Court. We would certainly help you out in the matter.

Regards

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Answered on 8/07/11, 11:27 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

in case you are a party to the suit in Delhi High Court, you may not be able to seek the same relief by filing a suit for recovery. however, if you are not a party there, you have all the rights to seek recovery and for limitation, you need to get in touch with the lawyer in person.

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Answered on 8/08/11, 2:57 am
Sanjay Kalra Sanjay Kalra & Associates

The best option is to file a criminal case of cheating etc against the Director who is a USA citizen and inform the American embassy about the registration of a case against him. Get that man extradited to India to face the music . I am sure everything would be sorted out . Anyway your limitation to recover the money would start once the company matter finishes.

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Answered on 8/08/11, 10:39 am


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