BRIEF OF THE CASE
I was working as the CEO for a company ~ a joint venture between an Indian partner and Canadaian company
The Joint Venture was dissolved by the mutual concent of the JV partners and Canadian partner bought out the equity of other JV partner.
I continued to operate as the CEO of the company, which was now a fully owned subsidiary of Canadian group
All the Directors from Indian partner resigned from the Board of Directors of JV
My consent was requested for being appointed as the ‘Whole Time Director’ for the company ~ now a fully owned subsidiary of the Canadian Group in addition to the existing responsibility of CEO.
I gave my consent for the additional responsibility of ‘Whole Time Director’.
The company applied for DIN (Director Identification Number) for me to be appointed as ‘Director’. DIN number was allotted to me by by Ministry of Corporate Affairs, Government of India.
I was appointed as the ‘Whole Time Director’vide a resolution passed at the extraordinary general meeting of the company .
Copy of the resolution confirming my appointment as ‘Whole Time Director’ with effect from 12th August 2014 for a period of 5 years and with monthly remuneration mentioned in the resolution and duly signed by Director was given to me.
On 20th January 2015, I was verbally requested to put up my resignation from the Board of Director's as Canadian Group wanted to appoint someone else as the Whole Time Director..
I submitted my resignation on 20th January 2015 requesting the acceptance form 24th January 2015.
During the period from 14th August 2014 to 24th January 2015 , for which I was the ‘Whole Time Director’, the committed monthly remuneration was not paid.
Consequent to my resignation I verbally requested the authorities for the release of my dues for the services provided as Whole Time Director at the rate fixed as per the Board resolution. No response was received.
Having waited for sufficient time and not getting any intent of the organisation to release of my dues, I sent my claim through e mail requesting for the release of my legitimate dues.
Subsequently, I resigned from the CEO of the company and was relieved from 15th JULY 2015.
All other dues have been settled by the company and the payment has been made to me but the amount pertaining to my services as ‘Whole Time Director, continue to be unpaid.
There seems to be be no intention of the organisation to pay these dues to me.
I contemplate taking legal recourse to recover my legitimate dues and the suitable interest on the amount withheld for a considerable period of time.
Is it a suitable case for filing for recovery of the remuneration committed to me for the services as Whole Time Director.
If yes, can reasonable interest on the dues till the date of disbursement be claimed in addition to the principal amount.
Can the claim be lodged for legal/litigation charges.
If its a suitable case for claim, then where is it required to be filed.
Any other recommendations/advise.