IN RE Vs. FUTURE VISION INFRACOITY PVT LTD

JUDGEMENT

(1.) Cp No, 5/2016 The present case is received as a transferred case from the Lucknow Bench of Hon'ble High Court of Allahabad. Shri S.K. Baratiya representing the Respondent No.3. As today, there is no representation from the petitioner side. This Registry now receives a communication/ report from the ROC, Kanpur. It is matter of record that this Registry earlier issued notice to the petitioner company on 18th May 2017. However, there is no representation. Except only representation on behalf of Shri Suresh Singh, Respondent No.3, as being the Director of the Respondent Company. The present petition was initially filed before the Hon'ble High Court for the purpose of winding up of the Respondent Company.

(2.) Moreover, it will be necessary to take into consideration that the statutory changes took place in Companies Act, 2013, after the Insolvency and Bankruptcy Code came into effect. Therefore, in the light of changed statutory provisions, the present Company petitioner is required to update the present petition or to file a fresh one in conformity with the above referred statutory provision of the I & B Code, that has come into effect. Therefore, present petition may no longer maintainable before this Tribunal under the provision of the Companies Act, 2013 readwith I & B Code.

(3.) In the light of above stated factual and legal position of the case, the present petition is liable to be dismissed for want of prosecution. However, it is dismissed with such a liberty to the petitioner that it may file fresh petition under the prescribed procedure and in accordance with law before a Competent Court of law. No order as to cost. The, present petition accordingly stands disposed of.