https://www.taxtmi.com/caselaws?id=786330 Transfer under Section 434(1)(c) was granted because the court found the threshold of irreversible corporate death was not met; sales by secured creditors enforcing security do not by themselves constitute irreversible steps and therefore do not bar transfer, so transferable to NCLT for CIRP. The IBC's primacy and legislative focus on resolution over liquidation was applied, and exclusive jurisdiction to assess feasibility of resolution lies with the NCLT. Perceived prejudice to workmen or altered distributive outcomes under the IBC are not valid grounds to refuse transfer. Directions issued to file CIRP and for workmen to claim before NCLT. en-us Tue, 03 Feb 2026 00:00:00 +0530 Wed, 11 Feb 2026 09:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786330 Transfer under Section 434(1)(c) was granted because the court found the threshold of irreversible corporate death was not met; sales by secured creditors enforcing security do not by themselves constitute irreversible steps and therefore do not bar transfer, so transferable to NCLT for CIRP. The IBC's primacy and legislative focus on resolution over liquidation was applied, and exclusive jurisdiction to assess feasibility of resolution lies with the NCLT. Perceived prejudice to workmen or altered distributive outcomes under the IBC are not valid grounds to refuse transfer. Directions issued to file CIRP and for workmen to claim before NCLT. Case-Laws Companies Law Tue, 03 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786330