WEF 15-12-2016 High court lost jurisdiction to hear Company Law petitions

With effect from 1-6-2016 all applications complaining of oppression and mismanagement of a company have to be made before the National Company Law Tribunal. The question is what happens to a proceeding like the present one being an application complaining of oppression and mismanagement under sections 397 and 398 of the 1956 Act which was filed in this court in the year 1988 ? Section 68 of the Amendment Act, 1988 was a transitional provision. It did not preserve the jurisdiction of the High Court generally. It only pro­vided that proceedings pending in the High Court just before the com­me...