Section 39 - Amendment of section 434 of Act 18 of 2013 - Insolvency and Bankruptcy Code (Second Amendment) Act, 2018

Amendment of section 434 of Act 18 of 2013 39 . In section 434 of the Companies Act, 2013 , [as substituted by paragraph 34 of the Eleventh Schedule to the Insolvency and Bankruptcy Code, 2016], in sub-section (1), in clause (c), after the proviso, the following proviso shall be inserted, namely:- Provided further that any party or parties to any proceedings relating to the winding up of companies pending before any Court immediately before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, may file an application for transfer of such proceedings and the Court may by order transfer such proceedings to the Tribunal and the proceedings so transferred shall be dealt with by the Tribunal as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016(31 of 2016) . .