https://www.taxtmi.com/caselaws?id=752373 Delhi HC transferred a winding up petition against a company to the National Company Law Tribunal (NCLT). The petition sought company liquidation due to failure to pay debts in ordinary business course. The court found the petition was at a nascent stage with no Provisional or Official Liquidator appointed. Following Supreme Court precedent in Action Ispat case, HC held that early-stage winding up proceedings should be transferred to NCLT under the Insolvency and Bankruptcy Code, 2016 and Companies Act, 2013. The petition was disposed of and listed before NCLT. en-us Tue, 07 May 2024 00:00:00 +0530 Wed, 08 May 2024 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752373 Delhi HC transferred a winding up petition against a company to the National Company Law Tribunal (NCLT). The petition sought company liquidation due to failure to pay debts in ordinary business course. The court found the petition was at a nascent stage with no Provisional or Official Liquidator appointed. Following Supreme Court precedent in Action Ispat case, HC held that early-stage winding up proceedings should be transferred to NCLT under the Insolvency and Bankruptcy Code, 2016 and Companies Act, 2013. The petition was disposed of and listed before NCLT. Case-Laws Companies Law Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752373