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2015 (10) TMI 1771 - MADHYA PRADESH HIGH COURTWinding up Petition of unpaid dues of salary - Asset Management Business - Whether unpaid wages/salary of workman/employee can be covered within the meaning of debts under Section 433(e) of the Companies Act, 1956 and view taken in the matter of Pawan Kumar Khullar Vs. Kaushal Leather Board Limited in this regard is correct? – Petitioner contends that Respondent paid no heed to discharge its debts payable towards outstanding salary and emoluments for services rendered – Respondent contends that dues towards salary does not become “debt” under Section 433(e) and employee of cannot pursue claim in that behalf as Creditor by filing a Petition under Sections 433 and 434. Held That:- No provision of any statute much less of the Companies Act has been brought to notice which excludes the dues to be received by employee – Court disagrees with opinion made in the case of Pawan Kumar Khullar Vs. Kaushal Leather Board Limited [1995 (3) TMI 383 - HIGH COURT OF MADHYA PRADESH] as it is not possible to countenance that unpaid salary is not a debt – Section 529A does not state that the amount receivable by employees, who may not be workmen as such, is not a debt or that they are excluded from the term “creditors” – Employee can locus to file Company Petition in respect of unpaid wages and emoluments, same as creditor of Company and opinion of High Court in case of Pawan Kumar Khullar (supra), is overturned – Decided in favour of Petitioner.
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