Non-payment of salary

The case is related to Non-payment of Salary I used to work in Brainstorm Innovation and Research Pvt Ltd. The company is head quartered in Chennai and I used to work in Mumbai branch office. I had joined the company in May 2012. However, from December 2012, the owner of the company stopped paying our salaries citing that the company is going through financial crisis and they are looking for investor to pump in fresh investment. However, in February 2013, the owner of the company terminated all the employees citing that they have failed to find any investor and are closing the business. Through email and con-call they owner had promised that they will pay our pending dues, severance pay and provide us Form 16 for the TDS deducted. Since then, i have followed up with the promoters/ owners of the company numerous times. Initially they were responding to our emails and have kept on promising that they will release the payment soon. However, off late they have stopped responding to my emails. Kindly let me know how should i take legal action against the promoter/owner of the company. Under what premise, should i go ahead with the legal action and what is the chance of winning the case. I dont have enough funds to appoint a lawyer and fight a full-fledged case against the company. As an individual, can i send him a legal notice? It would be of great help if anyone can share sample legal notice for the same. Kindly let me know if sending a legal notice can help me in the recovering the pending dues? What if they dont even entertain my legal notice? I am thoroughly confused no how to go about the legal action. Kindly guide me. Regards,