High Court referred a pending petition to the National Company Law Tribunal relying on the Supreme Court's precedent. It disposed of the matter by dispensing with the statutory demand notice requirement.
File remitted to NCLT; statutory demand notice dispensed with; parties directed to appear before NCLT.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
60
CP-205-2015(O&M) Date of Order: 27.05.2022
SEARCH PHARMA PVT LTD
..Petitioner
Versus
TPG WHOLESALE PVT LTD
..Respondent
CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL
Present: Ms. Riya Bansal, Advocate for the petitioner.
Mr. Anil K. Aggarwal, Advocate for the respondent.
ANIL KSHETARPAL, J.
The learned counsel representing the respective parties are ad idem that in view of the judgment passed in Civil Appeal No.4041-2020, titled as “Action Ispat and Power Pvt. Ltd. Vs. Shyam Metalics and Energy Ltd.”, decided on 15.12.2020, reported in AIR 2021 SC 309 , the matter is required to be referred to the National Company Law Tribunal, Chandigarh Bench. The Supreme Court while interpreting the provisions of Section 434 of the Companies Act, 2013 read with The Companies (Transfer of Pending Proceedings) Rules, 2016, has held that except when the Company Court has taken steps which are irretrievable, the petition filed under Section 433, 434 and 439 of the Companies Act, 1956, is required to be referred to the National Company Law Tribunal, Chandigarh Bench. The matter is at a pre-admission stage and is, thus, required to be transferred to the National Company Law Tribunal, Chandigarh Bench.
All the miscellaneous applications, if any, shall be considered by the Tribunal. It is further observed that the matter is pending in this Court for the last 7 years, therefore, the Tribunal is requested to take up the matter, positively, on 17.08.2022, and pass appropriate orders.
The parties through their counsels are directed to appear before the National Company Law Tribunal, Chandigarh Bench, on the above-said date.
MOHD AYUB 2022.06.08 19:04 The office is directed to remit the case file to the Tribunal forthwith. I attest to the accuracy and authenticity of this document.
CP-205-2015(O&M)
-2-
Statutory demand notice before filing of the petition before the National Company Law Tribunal under Section 8 of the Insolvency and Bankruptcy Code, 2016, shall stand dispensed with in view of the facts that the notice of the company petition is already sent and served on the respondent.
May 27th , 2022 (ANIL KSHETARPAL) Ay JUDGE Whether speaking/reasoned : Yes/No Whether reportable : Yes/No
MOHD AYUB 2022.06.08 19:04 I attest to the accuracy and authenticity of this document.
2 issues framed by the court
Whether a matter pending in the High Court, where the company court has not taken irretrievable steps, should be referred to the National Company Law Tribunal.
Whether the statutory demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, is dispensed with when a company petition is already served.
Colour shows how this judgement treated each authority
Action Ispat and Power Pvt. Ltd. Vs. Shyam Metalics and Energy Ltd.Applied¶13
Action Ispat and Power Pvt. Ltd. Vs. Shyam Metalics and Energy Ltd., AIR 2021 SC 309 · Who else cites this
3 provisions across 3 enactments
SEARCH PHARMA PVT LTD
TPG WHOLESALE PVT LTD
ANIL KSHETARPAL
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
