Winding-Up Transfer to NCLT Depends on Irreversible Corporate Death Stage: Calcutta HC

Advertisement Abhijeet Projects Ltd. Vs Yogesh Khanna (Calcutta High Court) The Calcutta High Court considered a batch of appeals involving a common legal issue: whether a Company Court can transfer a winding-up proceeding to the National Company Law Tribunal (NCLT) on its own motion or whether such transfer can only be made upon an application by a party. The appellants contended that the last proviso to Section 434(1)(c) of the Companies Act, 2013, read with the Companies (Transfer of Pending Proceedings) Rules, 2016, permits transfer only upon an application by a party and does not autho...