https://www.taxtmi.com/caselaws?id=458744 Delhi HC held that winding-up petition must be transferred to NCLT upon application, following SC precedent in Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd. Under Section 434 of Companies Act 2013, NCLT must treat transferred petition as initiation of Corporate Insolvency Resolution Process under IBC 2016, not proceed directly to liquidation. NCLT bound to explore resolution first through CIRP process. Application disposed. en-us Mon, 10 Jul 2023 00:00:00 +0530 Thu, 14 Nov 2024 19:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458744 Delhi HC held that winding-up petition must be transferred to NCLT upon application, following SC precedent in Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd. Under Section 434 of Companies Act 2013, NCLT must treat transferred petition as initiation of Corporate Insolvency Resolution Process under IBC 2016, not proceed directly to liquidation. NCLT bound to explore resolution first through CIRP process. Application disposed. Case-Laws Companies Law Mon, 10 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458744