Anco has failed to pay. These periods range from September 1, 1999 to December 31, 1999 and then again from September 1, 2000 to January 31, 2003 which is a secured debt. Anco is said to be commercially insolvent. It is stated in the petition that Anco failed to be represented before Labour Courts and Tribunals in proceedings under section 33 C (2) of the ID Act and remained ex parte. Steps taken by the workers in implementation of orders/wages through the process of Section 33-C (1) of the ID Act for recovery of money quantified at Rs.17,05,530/- in the process of recovery which dues were discovered by the revenue authorities when they found mutations of the immovable property of Anco was not sanctioned and, therefore, it was not possible to put the property to auction to satisfy the claims of the workers. Other than the workers, PSIDC made a run on Anco to recover its secured loan and began taking steps towards auctioning the assets/property of Anco mortgaged to PSIDC to secure the loan. At the auction, a bidder made an offer of Rs.63 lacs on July 21, 2008.The workers preferred an application before the Assistant Labour Commissioner, Sangrur on March 20, 2009 for attachment of property of Anco to satisfy the claims of the workers then running into Rs.81,66, 738/-. The strength of workers when the going was good was between 100 to 150. On failure to satisfy their claims, they had approached Labour Courts. It is stated in the petition that PSIDC had sold the plant and machinery of Anco for total sale consideration of Rs.77 lacs which according to the workers was undervalued. The long history of the case is narrated in the petition which needs no further detailing.
