- (1.) In this winding up petition the claim arises on account of pension payable by the Company to the petitioner on and from the date of resignation, i.e., 1st January, 2005 till August 2009.
(2.) The case of the petitioning creditor is that, he was employed as the Secretary to the Chairperson of the Company till 31st December, 1997 and in spite of reaching superannuation continued to discharge his functions till 1st January, 2005 during which time he was in the service of the Company. On 17th December, 1999 the petitioning creditor opted for the pension scheme instead of the superannuation fund scheme. Therefore, he became entitled to payment of pension on his leaving the service of the Company and a request was made by him to make payment of his pension dues.
(3.) The Company called upon him to submit his claim on account of pension scheme by filing proper application to enable processing thereof. Accordingly, a pension application form was forwarded by the petitioning creditor to the Company which has been received by it. In spite thereof, no payment was made and statutory notice under Section 434 of the Companies Act, 1956 has been issued and a reply given thereto. In the said reply the Company has set out various reasons for non-payment of the said pension amount. One of them is filing of a money suit by the Company in the City Civil Court in 2007. The point of limitation has also been taken which is misdirected. Therefore, the only reason for non-payment of pension is filing of money suit being Money Suit No.581 of 2007 for damages. Damage is an unliquidated claim and cannot be used as a set off for a pension claim. Therefore, orders be passed as sought.;