India | Bankruptcy
Legal Question
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,
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Legal Answer
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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Kar Vai Legal Solutions, Founder, 359, Western Wing, Tis Hazari Courts
Delhi, India., 110054
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Legal Answer
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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Chennai,india, NUS 600008
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Your question at this stage is premature. the question of remedy may arise only after the cheque is not encashed.
Attorney-at-Law (India)/ Visiting Scholar, UNC-CH USA
Sureme Court of India
New Delhi, 110001
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