https://www.taxtmi.com/caselaws?id=441575 A company petition may be transferred to the NCLT under Section 434(1)(c) where the winding-up process has not reached an irreversible stage and the matter remains capable of being dealt with under the insolvency framework. Here, the absence of effective steps after appointment of the Provisional Liquidator, together with the Official Liquidator's no-objection subject to payment of expenses, supported transfer. The company petition was accordingly transferred to the NCLT, subject to clearance of the Official Liquidator's costs. en-us Fri, 26 May 2023 00:00:00 +0530 Fri, 11 Aug 2023 08:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441575 A company petition may be transferred to the NCLT under Section 434(1)(c) where the winding-up process has not reached an irreversible stage and the matter remains capable of being dealt with under the insolvency framework. Here, the absence of effective steps after appointment of the Provisional Liquidator, together with the Official Liquidator's no-objection subject to payment of expenses, supported transfer. The company petition was accordingly transferred to the NCLT, subject to clearance of the Official Liquidator's costs. Case-Laws Companies Law Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441575