IN RE Vs. INDURI FARM LTD

JUDGEMENT

(1.) Petition under consideration was filed on 16th August, 2016 under the provisions of section 14 of Companies Act, 2013 ('the Act'). At the outset, it is worth to reproduce the relevant portion of the section as under:

(2.) By issuance of the notification it was made clear that the corresponding provisions of Companies Act, 1956 shall remain in force till corresponding provisions of Companies Act, 2013 are notified. As a result, the impact of this Notification was that after the MCA Notification dated 1st June, 2016 (to be discussed hereinbelow), the applicability of the old provisions along with the attached rules got suspended. To proceed with the matter, it is requisite to hold that rule 33 of the Companies (Incorporation) Rules, 2014, which had prescribed that for effecting the conversion of a private company into a public company was to be approved by the competent authority, i.e., Central Government; had become redundant.

(3.) My reason to hold rule 33 as redundant is two-fold: