https://www.taxtmi.com/caselaws?id=791672 The Calcutta HC applied the test for transfer of admitted winding up proceedings by asking whether the process had reached an irreversible or irretrievable stage, or whether any step had made it impossible to restore the position. It held that unpaid expenses claimed by a security agency appointed by the Official Liquidator did not, by itself, prevent transfer, and that earlier authorities did not require liquidation expenses to be paid as a precondition. The Court also held that section 529 of the Companies Act, 1956 did not bar transfer, as the claimant could pursue its expense claim before the National Company Law Tribunal. In the absence of any sale of assets or other irreversible step, transfer to the NCLT was upheld. en-us Mon, 11 May 2026 00:00:00 +0530 Fri, 15 May 2026 09:15:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791672 The Calcutta HC applied the test for transfer of admitted winding up proceedings by asking whether the process had reached an irreversible or irretrievable stage, or whether any step had made it impossible to restore the position. It held that unpaid expenses claimed by a security agency appointed by the Official Liquidator did not, by itself, prevent transfer, and that earlier authorities did not require liquidation expenses to be paid as a precondition. The Court also held that section 529 of the Companies Act, 1956 did not bar transfer, as the claimant could pursue its expense claim before the National Company Law Tribunal. In the absence of any sale of assets or other irreversible step, transfer to the NCLT was upheld. Case-Laws Companies Law Mon, 11 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791672