Help required for company law related matters
PARAMJIT SINGH
(Querist) 26 March 2014
This query is : Resolved
A person have a FDR with a unlisted company. and at the time of maturity, company have not paid interest on amount of FDR and the cheque paid in advance for Repayment of principal has been bounced.
Now i have been advised by my friend to fine civil suit u/s 138 for bounced cheque of principal repayment. but i need to know whether a person can claim interest portion in civil suit u/s 138, which he has not received.
Also u/s 58A of the company the company has defaulted with respect to provisions of Acceptance of Deposits under companies act 1956 and companies act 2013.
SO my query is how to recover the amount of principal and interest from company??
Kindly Assist me in this assignment.
R.V.RAO
(Expert) 26 March 2014
you may file a suit for principal as well as interest .
apart from THE ABOVE suit, WHICH you file against the co.under sec 138 OF NI Act ,there are remedies for depositors for default of nonpayment of deposit by the cos.under the acceptance of deposits rules in the new co act 2013.
penalty of Rs 1 crore or more is payable by such defaulting co. (sec 74(3)).
personal liability of officers in default under sec 75
aggrieved depositors may file a suit U/S 75(2)
to invoke these remedies,the aggrieved depositor has to file his case before the National company law tribunal.(NCLT)
winding up petition against the co.:(if the amount due is more than Rs one lakh)
one more remedy is under sec 272(new cos act 2013), you can file a winding up petition against the company with the NCLT copy to Registrar of companies.(ROC)
But to start with, send a notice from your side or from your lawyer to the co. at its regd.office address and also to managing director and co. secretary/board of directors , that you are planning to file a winding up petition against the company with ROC . mark c.c of this letter to MCA(ministry of corporate affairs).
M.D and company secretary being a key managerial personnel, under the new
CO'S Act 2013,they sure will respond.
proceed with the help of your advocate/auditor.
Rajendra K Goyal
(Expert) 27 March 2014
Well advised by the expert RV RAO ji, agree to it.
R.V.RAO
(Expert) 28 March 2014
Thanks,.sri rajendra goyal ji and thiru kalai sevan ji.
T. Kalaiselvan, Advocate
(Expert) 28 March 2014
