Winding up petitions filed in the High Court, which are at the initial stage and no Provisional/Official Liquidator has been appointed, to be transferred to National Company Law Tribunal [NCLT]

A petition was filed in 2015, in the Hon’ble Delhi High Court for winding up of the Respondent-Company. The pleadings were completed, however, no further steps were taken.  

The Hon’ble High Court opined that with the enactment of the Insolvency and Bankruptcy Code, 2016 (hereinafter ‘IBC’), and as per Sec 434 of the Companies Act, the petition will be transferred to the NCLT as it is still at the initial stage and no Provisional/Official Liquidator has been appointed in this matter.  

The Hon’ble Court also relied upon the Hon’ble Supreme Court in ‘Action Ispat and Power Limited v. Shyam Metalics and Energy Limited’ [(2021) 2 SCC 641]. 

IN THE HIGH COURT OF DELHI AT NEW DELHI  

CO.PET. 267/2015  

SNOWPACK POLYMERS PVT. LTD ..... Petitioner 

 versus  

APC POLYCOAT INDIA PVT. LTD   ..... Respondent  

Date of Decision: 19th October, 2023