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TRICKS FOR GETTING STUCK PAYMENT FROM LIMITED COMPANIES which are still working
4-Apr-2014

  1. Get hold of party's balance sheet and profit and loss account.  In all probabilities auditor should not have observed section 22 of MSME Act 2006.  Send a letter to auditor.  Performa of letter is enclosed. (Performa courtesy Amit  Parikh - Advance  Paint Ltd.) 
  2. Issue  notice of recovery to the party under MSME Act 2006.  Section 15, 16.
  3. Issue notice under section 434 of the company's act 1956 (Under this section winding up procedure can be initiated against the party) Draft notice is enclosed.
G. K. LOYALKA

 
 
 
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