Company Delaying Salaries and Forcing Shares: What Legal Steps Can We Take?

My company is not paying anybody's salary for the last month, and they are still delaying it. For some employees, including me, they are forcibly giving shares instead of salary for the next three months. What legal action can we take?

For labor categories, they can file a complaint with the Regional Labor Department under the Payment of Wages Act, 1936. For executives and those at the managerial level, they can file a civil case in court.

Regards,
Tushar Swar

Can you be more specific? "Company Shares" - Public listed company shares or Employee Stock Ownership Plan (ESOP)? Please provide as much information as you can. It's a very interesting case.

Regards,
Ukmitra

Further to the clarification sought by Ukmitra, please also provide more details:

1. The reasons given by the company for this step.
2. In which sector is your company located?
3. What is the employee strength?
4. What is the financial status of the company as perceived by employees, not as conveyed by the management? This information is crucial, as it is possible that the management is aiming to increase the shareholder base for various reasons, where the question of being 'right' or 'wrong' is not the primary concern.

Regards,
TS