CAPT P K PASSI Vs. NEPC INDIA LTD

JUDGEMENT

(1.) THESE Company Petitions are filed under Section 433, 437 and 439 of the Companies Act for winding up of the respondent Company viz. , NEPC India Limited.

(2.) ACCORDING to the petitioners, they were employed as Pilots in the Respondent-Company. Salaries for the petitioners were not paid for a long period of time and their claims are as follows:- <FRM>JUDGEMENT_968_TLMAD0_2005Html1.htm</FRM> In view of the inability of the respondent company to pay the salaries and for the reasons that the substratum of the company had collapsed and also for the reason also that the company was incapable of discharging its debts and liability, the petitioners had sought for winding up of the company under the provisions of the Company Act.

(3.) WHILE the respondent have not disputed the facts that they are due and payable any amount to the petitioners, the salaries and other connected benefits, they have chosen to raise technical pleas with an intent to direct the focus o the matter to extraneous issues. To substantiate their contention, the petitioners rely upon the following judgments:-