Company not paying Fixed Deposit Money back
Wanted to know
what should be the next step legally for the case below.
A Fixed deposit was opened with a listed company. The company is now not paying the money. A case was opened with CLB, Mumbai and they have not complied to the same. In the same verdict they have mentioned that Registrar of Companies to initiate prosecutional proceedings against the company and its every officer including the Mg. Director of the company. Nothing has happened since last 2 months. Should I go to Consumer Court?
Asked 4 years ago in Business Law from Non payment Company Fixed Deposit, Maharashtra
Yes. Consumer court is the right legal avenue which is best suited in your case as summary trials are conducted by the forum resulting in fast and effective disposal of the case.
Advocate, Navi Mumbai
You may serve a winding up notice upon the company; after expiry of the notice period, if dues are not paid, you may initiate winding up proceedings in a competent court.