HC has jurisdiction to transfer company petition to NCLT for ...

Corporate Insolvency: Apex Court Denies Transfer to NCLT After Irreversible Winding-Up Proceedings.

January 4, 2025

Case Laws Companies Law HC

HC has jurisdiction to transfer company petition to NCLT for CIRP under IBC 2016. However, winding-up proceedings reached irreversible stage with partial asset sales and third-party rights created. Transferring case to NCLT not feasible after substantial asset monetization. Application by SBI dismissed as irreversible situation created, not in interests of justice to transfer matter to NCLT.

View Source

← Previous Next →

HC has jurisdiction to transfer company petition to NCLT for ...

Corporate Insolvency: Apex Court Denies Transfer to NCLT After Irreversible Winding-Up Proceedings.

January 4, 2025

Case Laws Companies Law HC

You may also like:

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...

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...

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...

CIRP Proceedings against the Personal Guarantors - the ‘Adjudicating Authority’ / ‘Tribunal’, has ‘jurisdiction’, to ‘entertain’/’initiate’, the ‘Insolvency Proceedings’...

Validity of Winding up order - Antrix, which initiated the proceedings for winding up, is neither a financial creditor nor an operational creditor nor a corporate...

Whether in exercise of powers under the proviso to Section 434 of the Companies Act, 2013, this court should transfer the present proceedings to NCLT? - normally, this...

Seeking winding up of the respondent company - inability to pay debts - disobedience of the orders of the Court - The court found the winding-up proceedings to be...

Restoration of petition, which has been withdrawn - There cannot be a dispute on the inherent power of the NCLT to direct restoration of an application which had been...

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...

As admittedly the winding up proceedings has been admitted and ordered for winding-up of the respondent- ‘Corporate Debtor’, we hold that the question of initiation of...

CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void...

The circular issued by the Government of Tamil Nadu, Commercial Taxes Department, addresses the treatment of statutory dues under GST law for taxpayers whose proceedings...

Initiation of CIRP - Period of limitation - It is now well settled that the provisions of the Limitation Act are applicable to proceedings under the IBC as far as may be...

Corporate insolvency process - Admission of winding up petition - Prior admission stage of pendency of winding up proceeding against corporate debtor under the Companies...

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...

Quick Updates: