Companies (Transfer of Pending Proceedings) Rules, 2016

The petitioners, shareholders of La‑Fin Financial Services Pvt. Ltd., challenged a winding‑up petition filed by IL&FS under Section 433(e) of the Companies Act, 1956, which had been transferred to the NCLT as a Section 7 application under the Insolvency and Bankruptcy Code, 2016. The dispute arose from a 2009 share pur…

Forech India Ltd. filed a winding‑up petition in the Delhi High Court in 2014 against a company, serving notice under Rule 26 of the Companies (Court) Rules. Later, a financial creditor (Respondent No.1) filed an insolvency petition under Section 7 of the Insolvency & Bankruptcy Code (IBC) before the NCLT, which was ad…

M/s Kaledonia Jute and Fibres Pvt. Ltd. (appellant) sought to recover a debt from M/s Axis Nirman and Industries Ltd. (first respondent) and filed a petition under Section 7 of the IBC before the NCLT. Simultaneously, a winding‑up petition against the first respondent was pending before the Allahabad High Court, which …

The employees' union of Jaipur Metals & Electricals Ltd challenged a High Court order that refused to transfer winding‑up proceedings, filed under Section 20 of the Sick Industrial Companies Act, to the National Company Law Tribunal (NCLT) and set aside an NCLT order admitting a Section 7 insolvency application by Alch…