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of <h1>Transfer of pending company cases u/s 434(1)(c): reserved-order matters stay put; others move to tribunal, old rules apply.</h1> Section 434(1)(c) of the Companies Act, 2013 is amended (effective 15 December 2016) to limit transfer to the Tribunal of non-winding-up proceedings pending before High Courts to only those where orders 'for allowing or otherwise' are not reserved. This prevents transfer of non-winding-up matters that are awaiting reserved orders, allowing them to remain with the High Courts for disposal. The amendment further provides that (i) non-winding-up proceedings reserved for orders 'for allowing or otherwise', and (ii) winding-up proceedings not transferred from the High Courts, shall continue to be dealt with under the Companies Act, 1956 and the Companies (Court) Rules, 1959, preserving the applicable procedural and substantive regime for those matters.
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