Tribunal Transfers Winding Up Petition to Delhi HC

The Tribunal transferred a winding up petition to Delhi HC due to a pending petition against the respondent there. Concerned about conflict with the Insolvency Resolution Professional, the Tribunal decided against triggering insolvency concurrently. Citing previous orders and a Ministry of Corporate Affairs notification, the matter was transferred for adjudication to Delhi HC, with parties directed to appear on a specified date before the Chief Justice for further action.

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Issues:
Transfer of winding up petition to Delhi High Court for adjudication.

Analysis:
The Tribunal noted that a winding up petition against the respondent company was already pending before the Hon'ble Delhi High Court. Considering the potential conflict between the Official Liquidator and the Insolvency Resolution Professional in such cases, the Tribunal opined that triggering the insolvency process concurrently would not be advisable. Referring to previous orders and a notification by the Ministry of Corporate Affairs, the Tribunal decided to transfer the matter to the Delhi High Court for adjudication. The parties were directed to appear before the Delhi High Court on a specified date. The order was to be presented before the Chief Justice for further action.

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