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Indian Law/director absconding

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Question
sir, this private limited company started on 2008. paid up capital and authorized capital are 1,00,000/-.owner of the company is a NRI. so as a local director he made also as a director. gone well until 2015 september. then no funds given to pay salary. by end of january 2016 company closed by terminating all staffs including me. salary dues not paid and the actual owner agreed to paid all dues as installments. sold out all assets in company and distributed the amount (which was about 3,00,000/-) against salary dues. unfortunately the owner absconding. now he is in india but not attending calls and no response. unable to reach him. staffs filed a petition with police to get the balance dues.

now my questions are as follows.

1. is there any chance for the staffs including me to get the balance dues.
2. as i am the director of the company how i will be liable. (i have the appointment letter as manager. i got the termination letter. i have given the resignation letter from director position).
3. how the company can be closed. i mean cancellation of registration etc.
4. company has not submitted the audit report etc in last year also. any liability for this

please extend your support and advise.

thank you.

John David M.

Answer
Staff can file a recovery suit against the company for non-payment of their outstanding dues;
All directors being Principal Officers of the Company will remain liable to settle the dues of the creditors including its own employees;
If you have signed the resignation,you shall have to file DIR-11 and the Company has to file DIR-12 regarding change in Management due to your resignation.Your resignation will be effective from the date mentioned in your letter of resignation;
The Company may be closed by following the winding-up procedure laid down in the Companies Act,2013 e.g. it may be wound-up voluntarily or compulsorily by passing a special resolution.For the said purpose,I would advise you to take the advice of a practicing company secretary;
Unless the accounts are made up-to-date,prayer for winding-up will not be accepted by the NCLT.
The company and its officers in default will be liable to prosecution for failure to place the annual accounts before the shareholders in general meeting.

Indian Law

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Arun Kumar Maitra

Expertise

Contract Law,Companies Act,Sale of Goods Act,Partnership Act,Negotiable Instument Acts,Constitution of India,Arbitration Act,Consumer Protection Act,Maternity Act,Payment of Gratuity Act,Payment of Bonus Act,Shops & Establishment Act etc.The answer to the grievance of the particular online query depends on the facts of the particular case and law applicable to it.However,my comments relating to the various queries raised through the "All Experts" should not be treated as legal advices and should not at all be relied upon.I do not accept any responsibility for them.They will only give you some ideas about the probable merits of your cases.Ultimate actions/decisions in the matter may please be taken in consultation with the Legal Experts in the relevant fields.My purpose of giving the comments is to increase my own knowledge on the subjects and share it with others.It is purely of academic interest to me. I strongly feel the more knowledge we share,the more we shall be able to learn because there is neither any age nor any end to learning.

Experience

I have experience of dealing with matters relating to holdings of board/general meetings,maintenance of statutory registers,filing of necessary returns with the RoC,obtaining licenses for import,replies to Parliament Questions,dealing with the Parliamentary Committees,appearing before various courts to defend my employers,filing affidavits/counter -affidavits,preparing written statements/re-joinder,giving advice to management on complicated legal issues,preparation,drafting and vetting of contracts etc. I have more than 35 years of experiences to deal with the Company Law and Other Commercial Laws of leading Organisations in the country both in Public as well as Private Sectors.

Organizations
Member,Inst. of Chartered Accountants of India Member,Inst. of Company Secretaries of India; Member,Bar Council of India Member,All India Management Association Member,Delhi Management Association Ex. Vice-Chairman,Durgapore Chapter of the I.C.A.I. Expert ,CA Club India Expert ,Lawyers Club India Expert,AllExperts Ex. Faculty ,I.C.S.I as well as I.C.W.A of India Retd. Co. Secy. & G.M.(Law)/NFL(A Mini-Ratna A Schedule Central P.S.U.),New Delhi Ex.V.P.(Secretarial Dept.),Jaiprakash Associates Ltd. Ex. Co. Secy.,MAMC(A Govt. of India Enterprise),Durgapore

Publications
Nil.

Education/Credentials
M.Com;LL.B;A.C.A;A.C.S.

Awards and Honors
Obtained ''A'' Grade Certificate in the Parliamentary Procedure from the Secy. General of Parliament in 1994-95.It was in connection with a training course conducted by the BPE for PSU Executives.

Past/Present Clients
I am presently working as a Company Secretary in Old World Hospitality Pvt. Ltd.located in Delhi.It is engaged in Hospitality Industry.It has Units in India and abroad.It has been given the responsibility to look after operation & Management of ''India Habetat Centre'' located at Lodhi Road,New Delhi.

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