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of <h1>Transfer of company law cases from Company Law Board and courts to Tribunal, with limited appeals and timelines set</h1> Pending matters, proceedings and cases before the Company Law Board under the Companies Act, 1956, as on the notified date, stand transferred to the Tribunal, which must dispose of them under the Companies Act, 2013, thereby shifting jurisdiction and procedural governance to the Tribunal. Appeals against pre-notified Company Law Board orders may be filed in the High Court within 60 days on questions of law, extendable by a further 60 days for sufficient cause, thereby prescribing the appellate forum and limitation. Specified proceedings under the Companies Act, 1956 pending before District Courts or High Courts, including arbitration, compromise, arrangements, reconstruction and eligible winding-up matters, stand transferred to the Tribunal at the same procedural stage, while reserved matters, non-transferred winding-up matters, and certain voluntary winding-ups continue under the Companies Act, 1956 and the Companies (Court) Rules, 1959. Parties may seek transfer of pending winding-up proceedings to be treated as corporate insolvency resolution applications under the Insolvency and Bankruptcy Code, 2016.
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