2023 (10) TMI 1222

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.... last listed on 24th February, 2020 and were directed to be listed on 8th April, 2020. The Registry has not listed these matters after the COVID-19 period at all. 3. Since the Company Court is now functional after the COVID pandemic, the Registry ought to ensure that all the matters which were adjourned sine die during the COVID period are listed before the Court. 4. Let the concerned Registrar in the Registry prepare a complete list of all such matters and list the same before the Company Court after giving intimation to the ld. Counsel for the parties. 5. Early hearing is allowed. Application is disposed of. CO.PET.-429/2013 CO.PET.-450/2013 CO.PET.-451/2013 6. The present petitions have been filed seeking winding up of the Resp....

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.... for non-payment of Rs.66.2 lakhs for sale of goods. Issue notice through all modes including registered speed post and approved courier, returnable on 29.10.2013, dasti in addition. The affidavit of service, enclosing the tracking report of the postal authority and courier agency be filed by the Petitioner at least one week in advance of the next date of hearing." 9. Clearly, the winding up petition is at a nascent stage and no proceedings have been taken after the issuance of notice in these petitions. Only pleadings have been completed. In the meantime, the Companies Act, 1956 has been amended and a provision has been enacted for transfer of winding up proceedings pending before the High Courts. Transfer of proceedings pending befor....

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....sferred to the Tribunal and the Tribunal may proceed to deal with such proceedings from the stage before their transfer: Provided that only such proceedings relating to the winding up of companies shall be transferred to the Tribunal that are at a stage as may be prescribed by the Central Government. Provided further that only such proceedings relating to cases other than winding-up, for which orders for allowing or otherwise of the proceedings are not reserved by the High Courts shall be transferred to the Tribunal [Provided also that]- (i) all proceedings under the Companies Act, 1956 other than the cases relating to winding up of companies that are reserved for orders for allowing or otherwise such proceedings; or (ii) the pr....

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....esolved under the Code. Even post issue of notice and pre admission, the same result would ensue. However, post admission of a winding up petition and after the assets of the company sought to be wound up become in custodia legis and are taken over by the Company Liquidator, section 290 of the Companies Act, 2013 would indicate that the Company Liquidator may carry on the business of the company, so far as may be necessary, for the beneficial winding up of the company, and may even sell the company as a going concern. So long as no actual sales of the immovable or movable properties have taken place, nothing irreversible is done which would warrant a Company Court staying its hands on a transfer application made to it by a creditor or any p....