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Winding-up petitions shifted to the tribunal; petitioners must file insolvency details by July 15 or face abatement. Petitions for winding up on the ground of inability to pay debts pending before High Courts and not served under rule 26 are to be transferred to the Tribunal to be dealt with under Part II of the Code; petitioners must submit required information for admission under sections 7, 8 or 9 of the Code, including the proposed insolvency professional, by 15 July 2017 or the petition shall stand abated, and parties may thereafter file fresh applications under the Code.
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Provisions expressly mentioned in the judgment/order text.
Winding-up petitions shifted to the tribunal; petitioners must file insolvency details by July 15 or face abatement.
Petitions for winding up on the ground of inability to pay debts pending before High Courts and not served under rule 26 are to be transferred to the Tribunal to be dealt with under Part II of the Code; petitioners must submit required information for admission under sections 7, 8 or 9 of the Code, including the proposed insolvency professional, by 15 July 2017 or the petition shall stand abated, and parties may thereafter file fresh applications under the Code.
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