TaxTMI 
TaxTMI 
2017 (3) TMI 823
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....he has filed this petition under Section 634A of the Companies Act, 1956, which was numbered as C.P. No. 285/2013. On or about 1st June 2016, while the aforesaid proceedings was pending before the Company Law Board, which was dissolved and the National Company Law Tribunal came into existence by notification dated 08/06/2016. Matters pending before the Company Law Board were transferred to National Company Law Tribunal and it has to be disposed of in accordance with the provisions of Companies Act, 2013. Petitioner has stated that proviso to section 634A of the Companies Act, 1956 provides that this provision of section shall not apply on and after the commencement of the Companies (Second Amendment) Act, 2002. To avoid any ambiguity the pe....
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....n annulment of a right vested in the defendant or even a third party. Here in this case the petitioner has sought permission for withdrawing the suit with liberty to file a fresh suit on the ground that proviso to section 634A of the Companies Act, 1956 provides that the said section shall not apply on or after the commencement of the Companies (Second Amendment) Act, 2002 and he claims that he has filed the Company Petition under provisions of Section 634A of the Companies Act, 1956. It is pertinent to mention that up to the date of implementation of the Companies Act, 2013 provisions of Section 634A of the Companies Act, 1956 were valid and corresponding provisions in 2013 Act is Section 465 which has been repealed with saving clause. ....
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....of the Companies (Second Amendment) Act, 2002 never came into force and it was repealed by Act 18 of 2013. From the above it is clear that Section 634A of the Companies Act, 1956 was not applicable on or after the commencement of the Companies (Second Amendment) Act, 2002. But it is being clarified that the Companies (Second Amendment) Act, 2002 never came into force and it was repealed. Therefore, it is clear that provisions of Companies Act, 1956 were applicable till the implementation of the Companies Act, 2013 and it is also clear that provision of Section 634A of the Companies Act, 1956 corresponds to Section 465 of the Companies Act, 2013, and Section 465 of the Companies Act, 2013 without being enforced has been repealed by certai....
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....petition under Section 634A of the Companies Act, 1956, which was effective only till the implementation of the Companies (Second Amendment) Act, 2002. Since Companies (Second Amendment) Act, 2002 was never implemented and corresponding provisions of Section 634A of the Companies Act, 1956 is Section 465 of the Companies Act 2013, which has been repealed with certain enactments and savings. As per provisions of savings clause of Section 465 of the Companies Act, 2013 Part IXA of the Companies Act, 1956 shall be applicable mutatis mutandis in a manner as if the Companies Act, 1956 has not been repealed. Therefore, the ground which the petitioner has taken, that he is withdrawing the petition because he has filed the petition under Section 63....