High Court directed petitioner to approach National Company Law Tribunal under Section 434(c) of the Companies Act, 2013, allowed liberal condonation of delay, and disposed of CMPAT.
Directing Petitioner to approach National Company Law Tribunal with liberal condonation of delay; CMPAT disposed of.
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IN THE HIGH COURT OF ORISSA AT CUTTACK CMPAT No.18 of 1996
M/s. Paras Oil Extraction …. Petitioner Limited
Represented By Adv. Mr. N.C. Panigrahi
-versus-
…. M/s. Ipinit Vanaspati Limited Opposite Parties & Ors.
Represented By Sr. Adv. Mr. S. Palit
CORAM:
DR. JUSTICE S.K. PANIGRAHI
ORDER
Order
18.07.2024
No.
1 . . This matter is taken up through hybrid arrangement.
2 . During course of hearing, learned counsel for the Opposite Parties brings to the notice of this Court to the Provision under Section 434(c) of the Companies Act, 2013 and submits that the Petitioner should have approached the National Company Law Tribunal for redressal of its grievance.
3 . The Provision under Section 434(c) of the Companies Act, 2013 is extracted herein below:-
Page 1 of 2
// 2 //
“XXX
(c) 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 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:
XXX”
4 . Considering the submissions made and the provision
as quoted above, this Court directs the Petitioner to approach the National Company Law Tribunal for redressal of its grievance. It is directed that the delay, if any, in the approach of the Petitioner shall be condoned liberally.
5 . Accordingly, the CMPAT is disposed of.
(Dr. S.K. Panigrahi)
Judge
Signature Not Verified Sumitra
Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 19-Jul-2024 18:16:09
Page 2 of 2
2 issues framed by the court
Whether the petitioner approachable by High Court or National Company Law Tribunal for redressal of grievance under Section 434(c) of the Companies Act, 2013.
Whether delay in approach to the Tribunal warrants liberal condonation.
2 provisions across 1 enactments
M/s. Paras Oil Extraction Limited
M/s. Ipinit Vanaspati Limited and Others
S.K. PANIGRAHI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
