https://www.taxtmi.com/caselaws?id=266496 The judgment held that unpaid wages/salary of a workman/employee are considered debts under Section 433(e) of the Companies Act, 1956. The employee has the right to file a Company Petition for winding up against the respondent-Company as a creditor. The Court overturned the opinion that unpaid salary is not a debt and clarified that employees with unpaid wages are creditors entitled to invoke the jurisdiction of the Company Court. The matter was remitted to the Company Judge for further proceedings. en-us Mon, 24 Aug 2015 00:00:00 +0530 Wed, 21 Oct 2015 09:47:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266496 The judgment held that unpaid wages/salary of a workman/employee are considered debts under Section 433(e) of the Companies Act, 1956. The employee has the right to file a Company Petition for winding up against the respondent-Company as a creditor. The Court overturned the opinion that unpaid salary is not a debt and clarified that employees with unpaid wages are creditors entitled to invoke the jurisdiction of the Company Court. The matter was remitted to the Company Judge for further proceedings. Case-Laws Companies Law Mon, 24 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266496