Case Law Details
An employee can maintain a Petition for winding up of a Company under section 439 r/w sections 433(e) and 434 of the Companies Act, 1956 as a creditor based on the claim of the recovery of his unpaid salary and wages. Further we hold that a winding up Petition at the instance of a Trade Union and for the dues that are payable to its members is maintainable as it clearly falls within section 439 of the Companies Act, 1956.
Extract of the Judgment
1. This matter has been placed before us by the Hon’ble Chief Justice in view of the order passed by the learned Single Judge on 24th January, 2017. The issue referred to us for our consideration is:-
“(i) Whether an employee can maintain a Petition for winding up of a Company under section 439 r/w sections 433(e) and 434(1)(a) of the Companies Act, 1956 as a creditor based on the claim of the recovery of his unpaid salary and wages?”
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