https://www.taxtmi.com/caselaws?id=770312 HP HC dismissed appeal regarding transfer of winding up petition to NCLT under Section 434(1)(c) of Companies Act. Court held that unless corporate death is inevitable with irreversible actions like actual asset sales, winding up proceedings should be transferred to NCLT for potential revival under IBC. Following SC precedent in Action Ispat case, court emphasized IBC's beneficial nature prioritizing corporate resurrection over liquidation. Transfer was proper as no irretrievable steps had occurred, allowing opportunity for company revival through insolvency proceedings rather than winding up. en-us Fri, 25 Apr 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770312 HP HC dismissed appeal regarding transfer of winding up petition to NCLT under Section 434(1)(c) of Companies Act. Court held that unless corporate death is inevitable with irreversible actions like actual asset sales, winding up proceedings should be transferred to NCLT for potential revival under IBC. Following SC precedent in Action Ispat case, court emphasized IBC's beneficial nature prioritizing corporate resurrection over liquidation. Transfer was proper as no irretrievable steps had occurred, allowing opportunity for company revival through insolvency proceedings rather than winding up. Case-Laws Companies Law Fri, 25 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770312