We are a wholesale business in India, and a senior employee (over 65) who’d been with us for three years misused company funds of around ₹1 lakh for personal use. We terminated his employment and withheld his two months’ salary of ₹35,000. After deductions, we are owed ₹22,500 from him, and he owes us ₹75,000. He agreed in writing, witnessed by his son, to pay ₹10,000 monthly for six months. However, he hasn’t made any payments or contacted us. We sent a formal letter requesting settlement, but it’s been ignored. 1. What legal options do we have? 2. If the employee files for bankruptcy, what are our options to recover our money? We need your advice on how to proceed.

Apni Law
Apni Law
Law Forum › Category: Criminal › We are a wholesale business in India, and a senior employee (over 65) who’d been with us for three years misused company funds of around ₹1 lakh for personal use. We terminated his employment and withheld his two months’ salary of ₹35,000. After deductions, we are owed ₹22,500 from him, and he owes us ₹75,000. He agreed in writing, witnessed by his son, to pay ₹10,000 monthly for six months. However, he hasn’t made any payments or contacted us. We sent a formal letter requesting settlement, but it’s been ignored.

1. What legal options do we have?
2. If the employee files for bankruptcy, what are our options to recover our money? We need your advice on how to proceed.

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Apni Law Staff asked 2 years ago

We are a wholesale business in India, and a senior employee (over 65) who’d been with us for three years misused company funds of around ₹1 lakh for personal use. We terminated his employment and withheld his two months’ salary of ₹35,000. After deductions, we are owed ₹22,500 from him, and he owes us ₹75,000. He agreed in writing, witnessed by his son, to pay ₹10,000 monthly for six months. However, he hasn’t made any payments or contacted us. We sent a formal letter requesting settlement, but it’s been ignored.

1. What legal options do we have?
2. If the employee files for bankruptcy, what are our options to recover our money? We need your advice on how to proceed.

1 Answers
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Best Answer

Apni Law Staff answered 2 years ago

You can file a civil suit in a court of competent jurisdiction to recover the misappropriated funds and the outstanding salary. If the employee files for bankruptcy, you can file a claim in the bankruptcy proceedings. However, your chances of recovery will depend on the assets available in the bankruptcy estate and the priority of your claim.

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