https://www.taxtmi.com/caselaws?id=341606 The High Court admitted the winding-up petition against the respondent company, appointing the Official Liquidator as a Provisional Liquidator due to the respondent's insolvency and inability to pay debts. The court rejected the respondent's plea to transfer the case to the NCLT, emphasizing the High Court's jurisdiction under the Companies (Transfer of Pending Proceedings) Rules, 2016. The court also dismissed the request for adjournment, citing the respondent's attempt to delay proceedings. Additionally, the court disregarded opposition from workers and creditors, focusing on the respondent's financial distress and the need to protect creditors' interests. en-us Tue, 11 Apr 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341606 The High Court admitted the winding-up petition against the respondent company, appointing the Official Liquidator as a Provisional Liquidator due to the respondent's insolvency and inability to pay debts. The court rejected the respondent's plea to transfer the case to the NCLT, emphasizing the High Court's jurisdiction under the Companies (Transfer of Pending Proceedings) Rules, 2016. The court also dismissed the request for adjournment, citing the respondent's attempt to delay proceedings. Additionally, the court disregarded opposition from workers and creditors, focusing on the respondent's financial distress and the need to protect creditors' interests. Case-Laws Insolvency and Bankruptcy Tue, 11 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341606