9911796707
TMI Blog2019 (9) TMI 287X X X X Extracts X X X X X X X X Extracts X X X X ..... on No.125/2014 has been filed by the applicant against the respondent company - Opto Infrastructure Limited under the provisions of Section 433[e] of the Companies Act, 1956 ['Act 1956' for short] which is currently pending before this Court for hearing admission of the petition. 3. The applicant has chosen and elected to pursue the remedies available under the Insolvency and Bankruptcy Code, 2016 ['Code' for short] and has filed this application. 4. Learned counsel for the respondent company submits that the applicant has already filed C.P.No.236/2018 before the NCLT invoking the provisions of the Code. Hence, transfer of the present petition would not arise at this stage. 5. Heard the learned counsel for the respective parties and peru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... diction and such petitions shall be treated as applications under sections 7, 8 or 9 of the Code, as the case may be, and dealt with in accordance with Part II of the Code: Provided that the petitioner shall submit all information, other than information forming part of the records transferred in accordance with Rule 7, required for admission of the petition under sections, 7, 8 or 9 of the Code, as the case may be, including details of the proposed insolvency professional to the Tribunal within sixty days from the date of this notification, failing which the petition shall abate. [2] All cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction, for winding up of a company to a High Court and where no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the petitioner on instructions would submit that the C.P.No.236/2018 pending before the NCLT filed by the applicant under Section 7 of the Code shall be withdrawn by the petitioner by filing necessary memo/application and accordingly this Court may consider the application filed by the petitioner for transfer of this petition to NCLT in terms of Section 434[1][c] and the proviso thereof of the Act, 2013. 11. The submissions of the learned Senior Counsel is placed on record. 12. In view of the application filed by the petitioner under Section 434 [1][c] of the Companies Act read with proviso thereof, there is no inhibition for this Court to transfer the pending Company Petition to NCLT to enable the applicant/petitioner to pursue its re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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