Company Winding Up Case Transferred to NCLT Under IBC; No Irreversible Actions Taken Yet, Per Section 434(1)(c) Proviso.

Winding up of Appellant Company - Transfer of winding up petitions from the Company Court to be tried by the NCLT under IBC - Despite the fact that the liquidator has taken possession and control of the registered office of the appellant company and its factory premises, records and books, no irreversible steps towards winding up of the appellant company have otherwise taken place. This being so, the Company Court has correctly exercised the discretion vested in it by the 5th proviso to section 434(1)(c) - SC .....

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