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TMI Blog2025 (2) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... to the NCLT. In view of the respondent's express request for transfer and the legal precedents affirming that a formal application is not indispensable, this Court finds no impediment in treating the written submissions as an application for transfer of the present petition to the NCLT. The Court is not bound to insist on a separate application when the intent of the party seeking transfer is evident from the record.
Considering the express request by the respondent, the fact that no substantive proceedings have been undertaken towards winding up of the company, the present petition cannot be allowed to be continued before this Court. Hence, the instant petition is transferred to the NCLT, Delhi Bench, for further proceedings.
Conclusion - The petition should be transferred based on the respondent's request and the lack of substantive progress towards liquidation.
List before the NCLT on 10.03.2025 - Petition disposed off. X X X X Extracts X X X X X X X X Extracts X X X X ..... n before this Court is whether a winding-up petition filed under the Companies Act, 1956, at a stage where no irreversible steps have been taken towards liquidation, can and should be transferred to the NCLT at the instance of the respondent. 10. The learned counsel for the petitioner resists the transfer, arguing that a formal application is necessary for such a transfer, relying on the decision in Abhijeet Projects Ltd. v. Yogesh Khanna (supra). The learned counsel for the respondent, on the other hand, contends that this Court has the inherent jurisdiction to transfer the matter, even suo motu, if warranted in the interests of justice, as per the ruling in Gurbakhsh Singh BA, Builders P. Ltd. v. Fortis Hospital Ltd. : 2024 SCC OnLine Del 3480. 11. Upon an examination of the record, it is evident that the present winding-up petition is a non-starter. The proceedings remain at a preliminary stage, with neither a provisional liquidator nor an official liquidator having been appointed to assume control over the assets and affairs of the respondent company. Consequently, no substantive orders have been passed in this petition for seven years. 12. At the outset, it would be apposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be dealt with in accordance with provisions of the Companies Act, 1956 and the Companies (Court) Rules, 1959: Provided also that proceedings relating to cases of voluntary winding up of a company where notice of the resolution by advertisement has been given under sub-section (1) of section 485 of the Companies Act, 1956 but the company has not been dissolved before the 1st April, 2017 shall continue to be dealt with in accordance with provisions of the Companies Act, 1956 and the Companies (Court) Rules, 1959: Provided further that any party or parties to any proceedings relating to the winding up of companies pending before the 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). (2) The Central Government may make rules consistent with the provisions of this Act to ensure timely t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cision in Gurbakhsh Singh BA, Buliders (P) Ltd. v. Fortis Hospital Ltd., (supra), where this Court extensively considered the applicability of Section 434 of the Companies Act, and the transfer of pending winding-up petitions to the NCL. It was held as under : "13. Thus, what follows is that the entire statutory scheme in respect of winding up of companies, as also a catena of judgments has been considered by the Supreme Court in holding that even post admission, such a petition may be transferred by the High Court to the National Company Law Tribunal, as long as no irreversible steps have been taken pursuant to the winding up of the company concerned. Further, the submission of learned counsel for the petitioner that no application seeking transfer of the present petitions to the National Company Law Tribunal has been moved, cannot be countenanced. A decision to transfer the matter to the National Company Law Tribunal is a matter of jurisdiction of the court, which transfer can be effected suo motu by this court and mere moving or non-moving of an application by any of the parties seeking such transfer, will not be decisive. 14. In view of the foregoing discussion, it is the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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