https://www.taxtmi.com/caselaws?id=110998 The Court admitted the winding-up petition filed by former employees against the respondent-company for non-payment of terminal dues. It rejected the respondent's denial of liability, holding that the respondent assumed the liabilities of the merged company. The Court reset the limitation period for claiming dues based on an acknowledgment by the managing director. Employees were deemed 'creditors' under the Companies Act, and the Court had jurisdiction to entertain the petitions. The Court appointed the Official Liquidator as Provisional Liquidator and granted time for the respondent to deposit the claimed amount, with further steps outlined if payment was not made. en-us Mon, 12 Sep 2005 00:00:00 +0530 Thu, 19 Apr 2012 15:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110998 The Court admitted the winding-up petition filed by former employees against the respondent-company for non-payment of terminal dues. It rejected the respondent's denial of liability, holding that the respondent assumed the liabilities of the merged company. The Court reset the limitation period for claiming dues based on an acknowledgment by the managing director. Employees were deemed 'creditors' under the Companies Act, and the Court had jurisdiction to entertain the petitions. The Court appointed the Official Liquidator as Provisional Liquidator and granted time for the respondent to deposit the claimed amount, with further steps outlined if payment was not made. Case-Laws Companies Law Mon, 12 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110998