Disposed
Amritesh Industries v. Hind Metals and Indust
Orissa HCCOPET/62/2012
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COPET No. 62 of 2012
06. 06.12.2019 Heard learned counsel for the parties.
In view of the provisions contained under the Companies Act, 2013, which has envisaged that all proceedings under the Companies Act, 1956 (1 of 1956), including proceedings relating to arbitration, compromise, arrangements and reconstruction and winding up of companies, pending immediately before such date before any District Court or High Court; shall stand transferred to the National Company Law Tribunal (NCLT) 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; the Central Government has issued a notification dated 07.12.2016 in respect of transfer of proceedings/cases from the High Court to the NCLT vide notification dated 07.12.2016, which has been issued in exercise of power conferred under sub-sections (1) and (2) of Section 434 of the Companies Act, 2013 (18 of 2013) read with sub-section (1) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) by framing a rule by the Central Government called “The Companies (Transfer and Pending Proceedings) Rules, 2016”. Such transfer was challenged before this Court by filing W.P.(C) No.712 of 2017 and this Court stayed such transfer of cases to the NCLT, Kolkata. But, subsequently, due to establishment of National Company Law Tribunal, Odisha, Cuttack Bench, Cuttack, this Court disposed of the writ petition on 20.03.2019 stating that the NCLT, Odisha,
Cuttack Bench, Cuttack has been established and, therefore, all company matters be transferred to the NCLT, Odisha, Cuttack Bench, Cuttack.
In such view of the matter and also keeping in view the judgment of the apex Court in Forech India Ltd. v. Edelweiss Assets Reconstruction Co.Ltd., (Civil Appeal No. 818 of 2018 disposed of on 22.01.2019), this case stands transferred to the NCLT, Odisha, Cuttack Bench, Cuttack for just and proper adjudication.
GDS
…………….…………… (DR. B.R. SARANGI) COMPANY JUDGE
3 issues framed by the court
Whether proceedings under the Companies Act, 1956, including arbitration and winding up, pending before the High Court are to be transferred to the NCLT, Odisha, Cuttack Bench, Cuttack.
The effect of the establishment of the NCLT, Odisha, Cuttack Bench, Cuttack, on pending company matters.
Whether the stay granted in W.P.(C) No.712 of 2017 on the transfer of cases to NCLT, Kolkata, is affected by the establishment of the NCLT at Cuttack.
Colour shows how this judgement treated each authority
Forech India Ltd. v. Edelweiss Assets Reconstruction Co.Ltd.Referred¶5
Forech India Ltd. v. Edelweiss Assets Reconstruction Co.Ltd.
4 provisions across 4 enactments
DR. B.R. SARANGI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court