Transfer of pending company proceedings to Tribunal permits de novo or continued hearings while preserving existing supervised winding-up proceedings. Proceedings under the Companies Act, Insurance Act or other laws pending before the amendment (excluding Banking Regulation matters) are to be transferred to the Tribunal on a notified date, covering arbitration, compromises, arrangements, reconstruction and winding up; the Tribunal may proceed de novo or from the transferred stage. Where winding up had already commenced under court supervision before the amendment, that winding up continues under the existing supervision and in the same manner as if the amendment had not been passed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of pending company proceedings to Tribunal permits de novo or continued hearings while preserving existing supervised winding-up proceedings.
Proceedings under the Companies Act, Insurance Act or other laws pending before the amendment (excluding Banking Regulation matters) are to be transferred to the Tribunal on a notified date, covering arbitration, compromises, arrangements, reconstruction and winding up; the Tribunal may proceed de novo or from the transferred stage. Where winding up had already commenced under court supervision before the amendment, that winding up continues under the existing supervision and in the same manner as if the amendment had not been passed.
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