https://www.taxtmi.com/caselaws?id=367484 The court decided to transfer the proceedings under section 434 of the Companies Act, 2013 to the NCLT for potential corporate insolvency resolution. The UCO Bank was impleaded as a party, and the order appointing the OL as the provisional liquidator was revoked upon payment of expenses. The court directed the bank to provide proof of payment to initiate the transfer process. The OL was instructed to de-seal the property and preserve records pending further NCLT orders. The decision aimed to expedite the resolution process for the benefit of creditors and stakeholders involved. en-us Thu, 13 Sep 2018 00:00:00 +0530 Thu, 20 Sep 2018 22:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367484 The court decided to transfer the proceedings under section 434 of the Companies Act, 2013 to the NCLT for potential corporate insolvency resolution. The UCO Bank was impleaded as a party, and the order appointing the OL as the provisional liquidator was revoked upon payment of expenses. The court directed the bank to provide proof of payment to initiate the transfer process. The OL was instructed to de-seal the property and preserve records pending further NCLT orders. The decision aimed to expedite the resolution process for the benefit of creditors and stakeholders involved. Case-Laws Companies Law Thu, 13 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367484