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Fixed deposit for Service Bond not being returned back
01-May-2023 (In Corporate Law)
I joined a company in Mumbai and they made me sign a bond for 2 years and asked me to have a fixed deposit in XX bank for 25,000. I served my notice and resigned. My company said that the money of the FD will be transferred to my bank account but till date no money has been received in my account.
When I tried contacting the bank, they asked me to contact the company to submit the bond papers. On the other side, my company fails to respond to my plea. What can I do?
When I tried contacting the bank, they asked me to contact the company to submit the bond papers. On the other side, my company fails to respond to my plea. What can I do?
What your ex-employer is doing is purely illegal. You can send them a legal notice asking for your money.
If they still refuse to do anything then you can file a Winding Up petition in the local high court. Filing a criminal case u/s 406 IPC and civil suit for recovery of money is also another option.
If they still refuse to do anything then you can file a Winding Up petition in the local high court. Filing a criminal case u/s 406 IPC and civil suit for recovery of money is also another option.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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