https://www.taxtmi.com/caselaws?id=401736 The SC dismissed an appeal regarding transfer of winding up petitions from Company Court to NCLT. The Court held that the 5th proviso to section 434(1)(c) of Companies Act, 2013 grants discretion to Company Courts to transfer winding up petitions to NCLT even post-admission and after liquidator appointment. Such discretion should be exercised unless winding up proceedings have reached an irreversible stage where setting the clock back becomes impossible. Since no irreversible steps toward winding up had occurred despite liquidator taking possession, the Company Court correctly exercised discretion in transferring the petition to NCLT. en-us Tue, 15 Dec 2020 00:00:00 +0530 Wed, 16 Jul 2025 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401736 The SC dismissed an appeal regarding transfer of winding up petitions from Company Court to NCLT. The Court held that the 5th proviso to section 434(1)(c) of Companies Act, 2013 grants discretion to Company Courts to transfer winding up petitions to NCLT even post-admission and after liquidator appointment. Such discretion should be exercised unless winding up proceedings have reached an irreversible stage where setting the clock back becomes impossible. Since no irreversible steps toward winding up had occurred despite liquidator taking possession, the Company Court correctly exercised discretion in transferring the petition to NCLT. Case-Laws Companies Law Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401736