Pinnacle Biomed Private Ltd, v. Vasan Helath Care Private Ltd.
Case brief
What is this about?
Madras High Court Division Bench (P. Velmurugan & K. Govindarajan Thilakavadi JJ.) dismissed OSA No. 93 of 2019 as infructuous after the Division Bench answered the reference (order dated 05.09.2019 in Comp.A.Nos.273, 177 & 161 of 2019 etc., in C.P.No.267 of 2015) on whether the IBC could be invoked before the NCLT when Companies Act, 1956 winding-up petitions (inability to pay) pending before the Court were not expressly transferred. Keywords: infructuous appeal; reference to Division Bench; Companies Act 1956 winding up; inability to pay; NCLT transfer; IBC invocation; Comp.A.No.462 of 2017; C.P.No.267 of 2015; Pinnacle Biomed Private Limited v. Vasan Health Care Private Limited; no costs; liberty to pursue remedy before appropriate forum.
What did the court decide?
Appeal dismissed as infructuous; parties at liberty to work out their remedy in the manner known to law before the appropriate forum; no costs.