https://www.taxtmi.com/caselaws?id=303188 The company petition filed under Section 433(e) of the Companies Act, 1956 was transferred to the National Company Law Tribunal (NCLT) for initiation of Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The Court, following the precedent set in Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd., upheld the transfer decision, emphasizing the avoidance of parallel proceedings and the applicability of the Code's provisions. The appellant's reliance on other cases was dismissed, and the Court directed the transfer to NCLT, affirming the decision of the Company Judge. en-us Mon, 09 Sep 2019 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303188 The company petition filed under Section 433(e) of the Companies Act, 1956 was transferred to the National Company Law Tribunal (NCLT) for initiation of Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The Court, following the precedent set in Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd., upheld the transfer decision, emphasizing the avoidance of parallel proceedings and the applicability of the Code's provisions. The appellant's reliance on other cases was dismissed, and the Court directed the transfer to NCLT, affirming the decision of the Company Judge. Case-Laws Companies Law Mon, 09 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303188