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IN THE HIGH COURT AT CALCUTTA
DEBANGSU BASAK, MD.SHABBAR RASHIDI
Shiva Shakti Security Services – Appellant
Versus
Official Liquidator – Respondent
JUDGMENT :
DEBANGSU BASAK, J.
1. Two appeals are taken up for analogous hearing as both the appeals are at the behest of the same appellant. Same issues are involved in the two appeals.
2. APOT/316/2023 (hereinafter referred to as the first appeal, for the sake of convenience) is at the behest of the appellant assailing an order dated January 18, 2023 passed in IA No. CA/1/2021, CP/49/2016.
3. By the order impugned in the first appeal, learned Company Court, directed transfer of CP/49/2016 to the National Company Law Tribunal, Kolkata (NCLT). Learned Company Court also transferred all connected applications to NCLT. Such order was passed in view of the order dated September 26, 2022 passed in CP/347/2015.
4. APOT/79/2026 is an appeal at the behest of the appellant and directed against an order dated September 26, 2022 passed in CP/347/2015 (hereinafter referred to as the second appeal, for the sake of convenience). By such order, learned Company Court, took note of (2021) 2 SCC 641 (Action Ispat and Power Private Limited Vs. Shyam Metalics and Energy Limited) and (2021) 4 SCC 435 (A. Navinchandra Steels Private Limited Vs. SREI Equipment Finance Limited and Others) and transferred the w
The main legal point established in the judgment is the obligation to transfer winding-up proceedings to the NCLT in the absence of irreversible or exceptional circumstances, as per the amended Secti....
The discretion to transfer winding up proceedings to NCLT under Section 434(1)(c) of the Companies Act must prioritize potential corporate revival, and no irreversible actions should have occurred.
Transfer winding-up to NCLT unless 'corporate death' inevitable; sales by secured creditors outside proceedings or limited liquidator steps (asset possession, claims verification) do not bar transfer....
A winding-up petition can be transferred to the NCLT without a formal application if no irreversible steps have been taken in the liquidation process.
The court applied the provisions of the Companies Act 1956 and the judgment in Action Ispat and Power Limited v. Shyam Metalics and Energy Limited, (2021) 2 SCC 641, to decide on impleadment, release....
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