Insolvency proceedings take priority over winding up proceedings: NCLT ruling

The National Company Law Tribunal, New Delhi, held that insolvency proceedings take precedence over winding up proceedings pending before the High Court. The Tribunal asserted its jurisdiction in the matter, emphasizing the primacy of insolvency proceedings in such cases.

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The judgment by the National Company Law Tribunal, New Delhi, involved a jurisdictional issue regarding Insolvency proceedings while winding up proceedings were pending before the High Court against the Corporate Debtor. The parties made their submissions, and the order was reserved. (Citation: 2017 (9) TMI 1109)

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