2025 (10) TMI 184

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....Kashish Chhabra, Ms. Nitya Maheshwari, Ms. Sabeeh Akhtar & Ms. Mrinalini, Advs. for R-2/Mr. Sunil Dahiya with R-2 in person. Mr. Sumit K. Batra, SC for OL. Mr. Bharat Gupta, Mr. Varun Tyagi, Mr. Vishesh Chauhan, Ms. Akshita Harjai, Mr. Ishan Srivastava, Ms. Shagun Gupta, Ms. Snigdha S. Jena, Advs. for Allottees - Investors Sanghars Samiti and Vigneshwara Victims Welfare Association. TARA VITASTA GANJU, J.: (ORAL) 1. The present Company Petitions have been filed under Sections 433(e), 434 and 439 of the Companies Act, 1956, [hereinafter referred to as "1956 Act"] seeking the winding up of the Respondent Company - Vigneshwara Developers Pvt. Ltd., on the ground of its inability to pay its debts to the Petitioner(s). 2. The matter has been ....

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....6), immediately before such date shall stand transferred to the Tribunal and the Tribunal shall dispose of such matters, proceedings or cases in accordance with the provisions of this Act; (b) any person aggrieved by any decision or order of the Company Law Board made before such date may file an appeal to the High Court within sixty days from the date of communication of the decision or order of the Company Law Board to him on any question of law arising out of such order: Provided that the High Court may if it is satisfied that the appellant was prevented by sufficient cause from filing an appeal within the said period, allow it to be filed within a further period not exceeding sixty days; and (c) all proceedings under the Companies A....

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....dealt with in accordance with provisions of the Companies Act, 1956 and the Companies (Court) Rules, 1959: Provided further that any party or parties to any proceedings relating to the winding up of companies pending before the any court immediately before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, may file an application for transfer of such proceedings and the court may by order transfer such proceedings to the Tribunal and the proceedings so transferred shall be dealt with by the Tribunal as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (31 of 2016). (2) The Central Government may make rules consistent with the provision....