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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> High Court of Madhya Pradesh <br /><br /> Employee of company has same locus standi as creditor<br /><br /> - (24 Aug 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">Jonathan Allen v. Zoom Developers Private Limited</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>A three-judge bench of the Madhya Pradesh High Court answered the question, whether an employee of a company qualifies as a creditor of the company, in the affirmative. It held, “the employee of the Company has locus to file Company Petition in respect of his unpaid wages/salary and emoluments, as having been filed by a creditor of the Company”. Outstanding or unpaid wages or salary of an employee were likened to a debt: while not defined in the Companies Act, 1956, the Court defined debt in accordance with its use in common parlance.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Read the full judgment in <a href="http://www.mphc.gov.in/upload/jabalpur/MPHCJB/2015/COMP/10/COMP_10_2015_FinalOrder_24-Aug-2015.pdf " target="_blank">Jonathan Allen v. Zoom Developers Private Limited</a></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Employee, creditor, company, debt</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>