https://www.taxtmi.com/caselaws?id=400371 The court ordered the transfer of a company petition under Section 434 of the Companies Act, 2013 to align with the objective of the Insolvency & Bankruptcy Code, 2016. Emphasizing the importance of statutory schemes, the court held that the NCLT proceedings must continue, setting aside the High Court's judgment. The court clarified that the Code prevails over inconsistencies with the Companies Act, 2013. Judicial discretion for transfer under the fifth proviso of Section 434(1)(c) was highlighted, leading to the decision to transfer the company petition to the Tribunal. en-us Wed, 11 Mar 2020 00:00:00 +0530 Thu, 05 Nov 2020 12:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400371 The court ordered the transfer of a company petition under Section 434 of the Companies Act, 2013 to align with the objective of the Insolvency & Bankruptcy Code, 2016. Emphasizing the importance of statutory schemes, the court held that the NCLT proceedings must continue, setting aside the High Court's judgment. The court clarified that the Code prevails over inconsistencies with the Companies Act, 2013. Judicial discretion for transfer under the fifth proviso of Section 434(1)(c) was highlighted, leading to the decision to transfer the company petition to the Tribunal. Case-Laws Companies Law Wed, 11 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400371