Section 434 Permits Suo Motu Transfer of Winding-Up Proceedings: Calcutta HC

Anil Kumar Murarka Vs Official Liquidator And Anr (Calcutta High Court) Winding-Up Case Transfer Upheld Because No Irreversible Stage Had Been Reached; Company Court Can Transfer Winding-Up Proceedings Without Formal Transfer Application; NCLT Transfer Valid Because Section 434 Does Not Mandate Transfer Application; Appeal Against NCLT Transfer Rejected Because Liquidation Had Not Become Irreversible. The appeal was filed by a creditor of a company in liquidation against an order dated July 28, 2023, by which a learned Single Judge transferred a winding-up petition and a connected application ...