TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Calcutta High Court Grants Adjournment for Company's Winding-Up Petition Transfer</h1> The High Court of Calcutta granted the company's request for an adjournment, allowing them to apply for the transfer of the winding-up petition to the ... Difficulty in obtaining no objection certificate - Ex-parte hearing - HELD THAT:- A law point has been urged on behalf of the company, prevented by on technicalities on seeking adjudication of it. One last opportunity is granted by adjournment on reiteration of notice in order dated 17th June, 2019. List on 15th July, 2019 as prayed for by Mr.Chakraborty. Issues: Difficulty in obtaining no objection certificate, Transfer of winding up petition to NCLT, Interpretation of section 434 of Companies Act, 2013The judgment delivered by the High Court of Calcutta addresses several key issues. Firstly, the Court notes that the company, represented by Mr. Chakraborty, is facing challenges in obtaining a no objection certificate from their former advocate. On the other hand, the petitioning creditor, represented by Mr. Mukherjee, highlights a previous order where an adjournment was granted on the condition that the Court would proceed ex parte if the necessary authorization was not obtained. Mr. Mukherjee presses for an ex parte hearing in light of this situation.In response to a query from the Court, Mr. Chakraborty expresses the company's intention to apply for the transfer of the winding up petition to the National Company Law Tribunal (NCLT). He relies on a judgment from the Supreme Court regarding the interpretation of section 434 of the Companies Act, 2013, specifically emphasizing the last proviso in subsection (1) of the said section. The company raises a legal point that has been hindered by technicalities, seeking one last opportunity for adjudication, which is granted through an adjournment based on the notice issued in the previous order.Ultimately, the Court grants the company's request for an adjournment and schedules the next hearing for July 15, 2019, as requested by Mr. Chakraborty. The judgment reflects a balanced approach in considering the challenges faced by the company in obtaining necessary documentation and the legal interpretation of relevant provisions under the Companies Act, 2013, while ensuring procedural fairness in the proceedings.
TaxTMI 
TaxTMI 
