DULARCHAND MUKHIYA Vs. RANJEET KUMAR MISHRA

JUDGEMENT

(1.) The Ministry of Corporate Affairs, Government of India, has issued a Notification dated 7th Dec., 2016, thereby framed the Rule under Sub-sections 1 and 2 of Sec. 434 of the Companies Act, 2013 read with Sub-section 1 of Sec. 239 of the Insolvency and Bankruptcy Code, 2016, which has been intended that certain class of cases would be transferred to the National Company Law Tribunal (for short "N.C.L.T.") constituted under Sec. 408 of the Companies Act, 2013. Under this Rule, different natures and classes of company cases shall stand transferred to the Benches of the N.C.L.T. exercising respective jurisdiction.

(2.) Rule-3 deals with the transfer of pending proceedings relating to cases other than the winding up, such as, proceedings related to arbitration, compromise, arrangement and reconstruction except those which are reserved for order for allowing or otherwise of such proceeding. Rule-5 provides transfer of pending proceedings of the winding up with respect to inability to pay debts, which provides that all petitions relating to winding up under clause (e) of Sec. 433 of the Act on the ground of inability to pay its debts pending before the High Court, and where the petition has not been served upon the respondent as required under Rule-26 of the Companies (Court) Rules, 1959 shall stand transferred to the Bench of the Tribunal established under Sub-section (4) of Sec. 419 of the Act. Similarly, Rule- 6 also deals with the transfer of winding up cases with respect to clauses (a) and (f) of Sec. 433 of the Companies Act, 1959 to the Tribunal.

(3.) After the Notification, the Office has made a scrutiny of the class of the cases and number of cases would be treated to have been transferred to the Tribunal and accordingly, the Office has prepared the list of 14 cases, which were placed in the daily cause list, invited objection, if any, to be filed within 7 days. In pursuance thereof, the Office has received objection with respect to four cases i.e. (i) Company Appeal No. 1 of 2010 (at hearing stage), (ii) Company Petition No.10 of 2011 (at hearing stage), (iii) Company Petition No.9 of 2016 (at admission stage) and (iv) Company Petition No.11 of 2016 (at admission stage). The matters, where no objection was raised, were placed before the Honourable Acting Chief Justice; direction has been obtained to transfer the records of aforesaid cases to the N.C.L.T., Kolkatta and with respect to four cases where objections were raised has been placed in the judicial side to pass appropriate order.