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Possibility to recover due payments from Head Office in India
01-Aug-2023 (In Recovery Law)
Good Day!!
A client of our Head Quartered in Mumbai, India and listed on the Mumbai Stock Exchange issued a Purchase Order from their Singapore subsidiary an Offshore company. They owed us and many other companies monies and declared bankruptcy and closed down the offshore company with large amount due in payments to us with promises of paying the debt off.
Their Head Office is in India and we have communication from their offices in Mumbai regarding this project. They were contracted by ONGC India to work on refurbishment of their rig Sagar Samrat for which Mercator our India based client issued the PO from their offshore company in Singapore and the rest have explained above.
We are due serious monies from them and want to issue them a legal notice to start with and failing to get them to settle their dues, we would want to initiate legal proceedings against them to recover our dues. Is this something you can work with us on?
Hi, regarding the same, a legal notice can definitely be issued to the head office, under the guise of the fraudulent offshore subsidiary, further proceedings can be initiated agains the subsidiary in terms of the bankruptcy.
If your cumulative dues cross 6 crores, a complaint can also officially be made to the economic offences wing
If your cumulative dues cross 6 crores, a complaint can also officially be made to the economic offences wing
Helpful?
Adv. Jash J. Dalia
Mumbai | 100+ Answers
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Firstly to initiate any legal action against any erring company or official you will have to issue them a legal notice once the notice is issued only then can you approach the court of law either via National Company Law Tribunal or through District Civil Court because there has to be a primary document I.e your legal notice to show the bonafides that you have tried to initiate the legal action the erring company
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Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
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