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TMI Blog2019 (9) TMI 1655X X X X Extracts X X X X X X X X Extracts X X X X ..... e, 2016 and the same would and have to be transferred by the High Court to the adjudicating authority and treated as insolvency petition under the Code. In the considered opinion of this Court, the learned Company Judge has rightly transferred the company petition to NCLT. The judgment delivered in the case of Forech India Limited is a direct judgment on the issue, which is involved in the present company appeal. Hence, this Court does not find any reason to interfere with the order passed by the learned Company Judge. The admission is declined. - Company Appeal No. 7/2019 - - - Dated:- 9-9-2019 - S.C. Sharma And Shailendra Shukla, JJ. For the Appearing Parties : A.K. Chitale, Learned Senior Counsel and Amit Kumar Par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er has been filed but the company petition has not been admitted and winding up order is yet to be passed. Section 434 of the Companies Act, 2013 has been amended. Section 434 of the Companies Act, 2013 relates to transfer of pending proceedings and the second proviso therein has been inserted by the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 with effect from 6.6.2018, which reads as under:- 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 proc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s an insolvency petition under the Code. This statutory scheme has been referred to, albeit in the context of Section 20 of the SICA, in our judgment which is contained in Jaipur Metals Electricals Employees Organization Through General Secretary Mr. Tej Ram Meena Vs. Jaipur Metals Electricals Ltd. Through its Managing Director Ors., being a judgment by a Division Bench of this Court dated 12.12.2018. Having regard to the aforesaid, after the amendment a party has right to apply for transfer of winding up petition to the NCLT even after service of notice of the petition to the other side and on making of such an application, the High Court has power to transfer it. Counsel for the respondent has raised the issue of forum non con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y transferred the company petition to NCLT. 8. Shri A.K. Chitale, learned senior counsel has placed heavy reliance upon judgments delivered in the cases of Krishna Veni Nagam v/s. Harish Nigam reported in (2017) 4 SCC 150 and Mayar (H.K.) Limited Others v/s. Owner Parties, Vessel M.V. Fortune Express Others reported in (2006) 3 SCC 100. 9. This Court has carefully gone through the aforesaid judgment, however, the judgment delivered in the case of Forech India Limited (supra) is a direct judgment on the issue, which is involved in the present company appeal. Hence, this Court does not find any reason to interfere with the order passed by the learned Company Judge. 10. Resultantly, the admission is declined. 11. Cert ..... X X X X Extracts X X X X X X X X Extracts X X X X
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