When Ashish Prasad, technical lead at a bootstrapped IT startup, quit his job to take up a new one, he was assured by the company that his dues would be cleared within 45 days. But days turned into months, and repeated reminders and emails went unanswered with the dues still not paid. Not wanting to go in for time consuming and costly litigation, Ashish who had lost all hope of ever getting his dues, said he was advised to file an insolvency petition under the bankruptcy laws. “However, I am not sure if this will be fruitful”. There are many…
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