https://www.taxtmi.com/caselaws?id=764168 A Company Court may transfer a pending winding up proceeding to the NCLT under Section 434(1)(c) of the Companies Act, 2013, even after admission and appointment of a liquidator, but only before the matter reaches an irreversible stage. Where assets have already been sold, sale proceeds realised, third-party auction purchasers' rights have arisen, and confirmation issues remain pending, the proceeding cannot be meaningfully restored to its earlier position. On those facts, transfer was not appropriate and the request was rejected as not maintainable. en-us Mon, 02 Dec 2024 00:00:00 +0530 Sat, 04 Jan 2025 08:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764168 A Company Court may transfer a pending winding up proceeding to the NCLT under Section 434(1)(c) of the Companies Act, 2013, even after admission and appointment of a liquidator, but only before the matter reaches an irreversible stage. Where assets have already been sold, sale proceeds realised, third-party auction purchasers' rights have arisen, and confirmation issues remain pending, the proceeding cannot be meaningfully restored to its earlier position. On those facts, transfer was not appropriate and the request was rejected as not maintainable. Case-Laws Companies Law Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764168