High Court can hear winding up petition CP 1 of 2016 but proceedings paused pending NCLT decision on resolution plan.

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Full Text of the Document

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....Winding up petition - Jurisdiction of High Court - This Court possesses the jurisdiction to hear out the winding up petition being CP 1 of 2016 along with all connected applications. However, the winding up petition and the connected applications thereto should not be proceeded with till NCLT comes to the conclusion as to whether the resolution plan in respect of the said company is either approved or rejected.....