One of our employees was terminated by our client for a performance issue. Now the employee is not responding to phone and messages. He holding laptop of client. what steps do we have take for taking legal action for recovery of assets and for final settlement? request for advice
From India
There are 2-3 different aspects of this.

First, you would probably be more concerned about the laptop because it is of the client.

1. Do you have a backup of the data
2. Do you have any confidential data that can be misused?
Do you have a mechanism to remotely disable the laptop so it can no longer be used?
3. How expensive is the laptop and can you as contractor, replace it at your cost?
4. Do you have amounts pending settlement which you can leverage against the laptop

Depending on the above, you need to decide on the action, including going to the police and filing a FIR, and taking their help to go to his house and recover the laptop. Do remember that you need to spend money for it, they don't do things for free

From India, Mumbai
Dear Srinath,

How can "your employee" be terminated by your "client"? The client should have surrendered the employee back to you in anticipation of a suitable replacement .
Therefore, call back the employee to work immediately and then sort out the laptop issue.

From India, Salem
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