Debtors due
pallavi
(Querist) 09 April 2013
This query is : Resolved
One M/s. Pioneer Alloy Castings Ltd, chennai, we had supplied material to them, for rs 30lacs and its due for more than 2years and we came to know that the party is abscond and no more running her industry, so we appeared for the criminal case, and now we had filed a case in criminal law as her cheque had dishonoured, now past 1 1/2year the case is going on, and finally we have received even the arrest warrant also, but as the party is abscond our police person are telling that if we know the place where she is , so that we can execute arrest warrant so,
But held up payment is of ours, we need to get back our fund, so pls guide me on this
Pallavi
9900023713
M.Sheik Mohammed Ali
(Expert) 09 April 2013
if you know aforesaid company assets than inform to the court and issue the attachment order, and another way paper publication.
Anirudh
(Expert) 09 April 2013
Has your company filed a civil suit for recovery of money?
pallavi
(Querist) 09 April 2013
no sir not yet, we have filed only criminal case
pallavi
(Querist) 09 April 2013
what does this civil suit recovery of money use for? is that we can recover our money even the person is abscond ??????
Can u pls give me a guidance on this civil suit for recovery of money
Raj Kumar Makkad
(Expert) 09 April 2013
You can recover your money only by filing of the suit for recovery and by getting attached the property of the company like building, machine etc.
pallavi
(Querist) 09 April 2013
the person is abscond and, we do no to trace her assets, and meanwhile as of now the criminal case is running and next hearing is on june month, they have also issued arrest warrant,
But we are unable to do anything, if i need to file recovery suit, hope i need their asset details, how can i trace their asset details, pls guide me on this
Raj Kumar Makkad
(Expert) 10 April 2013
If there was a company and your debt is also against the company then enquire about its assets from the office of income tax/sales ta/VAT office/company law board/industrial department/local municipality etc. so that you may get the attachment prior to degree of those immovable properties in your recovery suit.
