Transfer of pending application for winding up of the respondent ...

Case Laws Companies Law

January 27, 2024

Transfer of pending application for winding up of the respondent company to the NCLT under IBC - The decision reflects the principle that winding up petitions pending before High Courts, which have not progressed to an advanced stage, should be transferred to the NCLT, in line with the Insolvency and Bankruptcy Code, 2016 and the Companies Act, 2013. The Supreme Court's judgment in Action Ispat and Power Limited v. Shyam Metalics and Energy Limited was cited, emphasizing that winding up proceedings at a pre-admission stage or those where no irreversible actions (like the sale of assets) have occurred are compulsorily transferable to the NCLT. - HC

View Source

← Previous Next →

Transfer of pending application for winding up of the respondent ...

Case Laws Companies Law

January 27, 2024

You may also like:

The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439...

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...

Liquidation of company - alleged malafide conduct of the ex-directors of Futura - Proceedings under IBC - The conduct attributed to the ex-directors, prima facie borne...

Corporate insolvency resolution process - whether the Company Court has any jurisdiction to stay the proceedings filed by a Corporate Debtor before NCLT even though a...

Maintainability of application for winding up - Striking of name of the company - even after removal of the name of the company from the register of companies the NCLT...

Court ordered dissolution of company and discharged Official Liquidator as Liquidator u/s 481 of Companies Act, 1956 as Official Liquidator could not proceed further...

This case pertains to the precedence and priority of consideration between an application filed u/s 54(C) and Section 7 of the Insolvency and Bankruptcy Code (IBC)...

Initiation of CIRP when winding up petition was pending before the High Court - Any “suppression” of the winding up proceeding would, therefore, not be of any effect in...

Recovery of demand - It is noted that IBC proceedings are being initiated against many companies who are either appellant or respondent in the appeals pending before...

Winding up petition - Jurisdiction of High Court - This Court possesses the jurisdiction to hear out the winding up petition being CP 1 of 2016 along with all connected...

Seeking winding up of the respondent company - failure to pay debt in the normal and ordinary course of its business - The High Court notes the respondent company's...

CIRP - Home Buyers - Moratorium against the company has been ordered - The Supreme Court's decision in this case clarifies that the moratorium u/s 14 of IBC does not...

Seeking for an order of winding up of the respondent-company - As pointed out that striking of the name of the company should not come in the way of passing an order of...

Validity of order of NCLT admitting the application for CIRP - Although, pendency of winding-up petition before the High Court may not preclude filing of Section 7...

Seeking restoration of name of the Company in the Register of the Companies - shell Company - Section 252(1) of the Companies Act, 2013 - Order of NCLT rejecting the...

Quick Updates: