1. Whether an employee or workman can claim entitlement to file a petition for winding-up of employer-company and whether he could be said to be a creditor for his salary dues so as to maintain such petition under Sections 433 and 434 of the Companies Act, 1956, is the preliminary question raised in the present petition.

2. Before proceeding to consider the issue, stating in brief the factual controversy could not be out of place.

2.1 The petitioner was appointed as a Group Chief Executive Officer under the respondent company-Neesa Venture Holdings Limited. It was the case of the petitioner that by a letter of appointment dated 27th August, 2011, he came to be appointed as Group Chief Executive Officer E-8 in view of his specialization and experience in the field works. According to the petitioner, the group companies including the respondent company were reeling under bad financial state of affairs, therefore, the respondent company was seeking a financial restructuring and rescheduling of debt. It was stated that under the appointment terms, the consolidated salary payable to the petitioner was Rs.6,59,996/-. The said component in the salary was fixed as minimum and additio