https://www.taxtmi.com/caselaws?id=386816 The court held that the winding up petitions should not be transferred to NCLT when the Official Liquidator (OL) was appointed as the Liquidator. However, in cases where proceedings were at an initial stage, the court transferred petitions to NCLT to potentially revive companies through the Insolvency Resolution Process. The court emphasized the discretionary nature of the proviso to Section 434(c) of the Companies Act, 2013 and highlighted the importance of considering creditors' interests in deciding whether to transfer proceedings. en-us Mon, 30 Sep 2019 00:00:00 +0530 Tue, 08 Oct 2019 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386816 The court held that the winding up petitions should not be transferred to NCLT when the Official Liquidator (OL) was appointed as the Liquidator. However, in cases where proceedings were at an initial stage, the court transferred petitions to NCLT to potentially revive companies through the Insolvency Resolution Process. The court emphasized the discretionary nature of the proviso to Section 434(c) of the Companies Act, 2013 and highlighted the importance of considering creditors' interests in deciding whether to transfer proceedings. Case-Laws Companies Law Mon, 30 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386816