TaxTMI 
TaxTMI 
Companies (Transfer of Pending Proceedings) Second Amendment Rules, 2017
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....ction (1) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the Code), the Central Government hereby makes the following rules further to amend the Companies (Transfer of Pending Proceedings) Rules, 2016, namely:- 1 . Short title and Commencement.- (1) These rules may be called the Companies (Transfer of Pending Proceedings) Second Amendment Rule....
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....en substituted with effect from the 16th day of June, 2017, namely:- "5. Transfer of pending proceedings of Winding up on the ground of inability to pay debts.- (1) All petitions relating to winding up of a company under clause (e) of section 433 of the Act on the ground of inability to pay its debts pending before a High Court, and, where the petition has not been served on the respondent u....
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....tions under sections 7 or 8 or 9 of the Code, as the case may be, in accordance with the provisions of the Code: Provided also that where a petition relating to winding up of a company is not transferred to the Tribunal under this rule and remains in the High Court and where there is another petition under clause (e) of section 433 of the Act for winding up against the same company pending as on ....