https://www.taxtmi.com/caselaws?id=448661 Delhi HC transferred pending winding up application against respondent company to NCLT under IBC for non-payment of contractual dues. Court relied on Action Ispat and Power Pvt. Ltd. v. Shyam Metalics SC decision mandating transfer of winding up proceedings at nascent stages to NCLT. Since no substantive winding up proceedings had commenced and petition was at preliminary stage with no effective orders passed, HC found continuation inappropriate. Petition transferred to NCLT with parties directed to appear on specified date, interim orders to continue until transfer. en-us Wed, 24 Jan 2024 00:00:00 +0530 Fri, 26 Jan 2024 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448661 Delhi HC transferred pending winding up application against respondent company to NCLT under IBC for non-payment of contractual dues. Court relied on Action Ispat and Power Pvt. Ltd. v. Shyam Metalics SC decision mandating transfer of winding up proceedings at nascent stages to NCLT. Since no substantive winding up proceedings had commenced and petition was at preliminary stage with no effective orders passed, HC found continuation inappropriate. Petition transferred to NCLT with parties directed to appear on specified date, interim orders to continue until transfer. Case-Laws Companies Law Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448661