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TMI BlogCompanies (Removal of Difficulties) Fourth Order, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... s the 2013 Act) provides that on a date which may be notified by the Central Government for the purpose of transfer of pending proceedings, all proceedings under the Companies Act, 1956 (hereinafter referred to as the 1956 Act ) including proceedings relating to arbitration, compromise, arrangements and reconstruction and winding up of companies, pending immediately before such date before any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r XX of the 2013 Act shall be notified to come into force from 15th December, 2016; And, whereas, it has been decided that (i) proceedings under the 1956 Act with High Courts on all cases other than winding-up as on 15th December, 2016 shall stand transferred to the Benches of the Tribunals exercising respective territorial jurisdiction and (ii) all cases of winding up under the 1956 Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egarding transfer of proceedings relating to cases other than winding-up where hearings have been completed and only pronouncement of order is pending or is reserved since their transfer to Tribunal may result into delay and rights of parties to the proceedings are likely to be affected prejudicially; Now, therefore, in exercise of the powers conferred by sub-section (1) of section 470 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1956 other than the cases relating to winding up of companies that are reserved for orders for allowing or otherwise such proceedings; or (ii) the proceedings relating to winding up of companies which have not been transferred from the High Courts; shall be dealt with in accordance with provisions of the Companies Act, 1956 and the Companies (Court) Rules, 1959 . [F. No. 16/61/2016- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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