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Award Recovery

KlipartKreations 25 Nov 2013, 18:46

We are the claimants fighting to recover our award amount granted by the Hon’ble High Court Of Mumbai. The copy of award is enclosed hereby for your reference.

1. Now we have followed up tremendously with the respondents to settle our dues till date but with no success.They do not reply to any of our correspondences. The respondent is a private limited company.

2. As you would know it is an ex parte award.

3. We were asked to file for winding up petition.

4. But on what ground? From the ROC we found out last, that this company has not filed their Balance Sheet for last more than 3 years. So, how do we find out their assets to liquidate?

5. The company has three directors, out which only one dealt with us.

6. Can we recover the dues from the directors’ personal assets?

7. After spending a big amount of arbitration, do we again need to spend on litigation and approach the Hon’ble court to look into our case? Is it not a criminal waste of time?

We are not clear what needs to be done.

Are majority of awards only on paper and not more than that?

We would be greatly thankful to you if we receive the correct advice from you.

Thank You,

Regards

Nirbhay Shah

2 Replies

AnonymousLLB 25 Nov 2013, 22:05

The first thing you need to do is file for execution of the arbitral award. For this you need to file for an execution before the competent court if you are not able to succeed after execution. Then file for winding up of the company. The court shall appoint an liquidator to settle the claims. If you need any further advice contact me at (tharejatushar29[at-the-rate-of]gmail[dot]com.)

AnonymousLLB 26 Nov 2013, 13:38

Thank you for your reply but as we have already indicated to you that the party has not been filing Balance Sheets with ROC, nor replying to any of our correspondences, execution and winding up will only make their lives easier.

For us it would be to wait for more time, spend more on legal recourse, etc.

What do you think? How many more days would we have to wait? Costs?

Can we approach the criminal court and throw a case of cheating on this party to pressurise them to settle the matter the way it should be?

Let us know

Regards

Nirbhay Shah