Email Id - agrawalassociates71@gmail.com

Gaurav Agrawal & Associates

CORPORATE CONSULTANTS

Contact No: +91 9644455571, 8109758760

NCLT & IBBC MATTERS

 

S. No. Matter Particular
1. Proceedings relating to followings Proceedings relating to following shall stand transferred to the Benches of the NCLT Tribunal.

·         Arbitration,

·         Compromise,

·         Arrangements and

·         Reconstruction

2. Winding up on the ground of Inability To Pay Debts ·         All petitions relating to winding up under clause (e) of section 433 of the Act on the ground of inability to pay its debts

·         pending before a High Court, and where the petition has not been served on the respondent as required under rule 26 of the Companies (Court) Rules, 1959

3. Winding up matters on the grounds Other Than Inability To Pay Debts ·         All petitions filed under clauses (a) and (f) of section 433 of the Companies Act, 1956

·         Pending before a High Court and where the petition has not been served on the respondent as required under rule 26 of the Companies (Court) Rules, 1959

4. Voluntary Winding up All applications and petitions relating to Voluntary Winding Up of companies pending before a High Court on the date of commencement of this rule, SHALL CONTINUE WITH AND DEALT WITH BY THE HIGH COURT in accordance with provisions of the Act
5 Inability to Pay Debt- IBBC Insolvency and Bankruptcy Code represents the legal and institutional mechanisms in India for dealing with debt defaultof companies and limited liability entities, partnership firms and individuals.However, this does not automatically cover default by financial service providers, unless notified by the Government.

 

MATTERS STILL CONTINUE WITH HIGH COURT

S. NO. PARTICULAR
1. All cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction (BIFR), for winding up of a company to a High Court and where no appeal is pending, the proceedings for winding up initiated under the Act, pursuant to section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 shall continue to be dealt with by such High Court in accordance with the provisions of the Act.
2. All applications and petitions relating to voluntary winding up of companies pending before a High Court on the date of commencement of this rule, shall continue with and dealt with by the High Court in accordance with provisions of the Act

 

to top button