SIDDHARTH MRIDUL, J.

CO. APPL. (M) 115 of 2016 & CO. APPL. No. 2615 of 2016

1. The present order will determine a neat question of law that has arisen in the backdrop of the notification Regd. No.D.L.-33004/99 dated 07.12.2016, issued by the Ministry of Corporate Affairs (hereinafter referred to as ‘the subject notification’).

2. One of the present applications, being Company Application No. 2615 of 2016, came to be instituted under the provisions of section 391 of the Companies Act, 1956, read with Rules 9 and 11 of the Companies (Court) Rules, 1959 on behalf of the 04 Buyers’ Association, namely, Spire Woods Buyers Association, Federation of Spire Edge Buyers Association, Spire Woods Block E & F Buyers Association and Spire Edge Allottees Association, seeking approval of this Court to the proposed Arrangement of the Respondent Company.

3. The other application, being Company Application (Main) No.115 of 2016 came to be instituted, also under the provisions of section 391 to 393 of the Companies Act, 1956 read with Rules 9 and 11 of the Companies (Court) Rules, 1959 on behalf of the Ex-Management of the Respondent Company, seeking approval of this Court to the Scheme of Compromise and Arrangement between the Respondent Company and its members & creditors.

4. The issue that arises for consideration is whether the Company Court has the exclusive jurisdiction to adjudicate applications instituted under the provisions of Section 391 of the Companies Act, 1956, in relation to the revival of a Respondent Company in provisional liquidation, subsequent upon coming into force of the subject notification, w.e.f. 15.12.2016.

5. At the outset, it would be necessary to briefly advert to the backdrop in which the question of law that requires determination has arisen.

6. This Court by way of its order dated 08.03.2016 admitted winding up petition, being Company Petition No. 704 of 2014, instituted against the Respondent Company-A.N. Buildwell Private Limited, and appointed the Official Liquidator attached to this Court as the Provisional Liquidator, to inter alia, take possession of the assets, books of accounts and records etc. of the Respondent Company.

7. As regards the steps taken by the Official Liquidator, appointed as the Provisional Liquidator of the Respondent Company in compliance to the directions contained in the said order dated 08.03.2016, the Official Liquidator has filed a report being OLR No. 197 of 2016. The relevant averments made in the said report, are encapsulated as follows:

(a) It has been stated by way of the said OLR that pursuant to the appointment as Provisional Liquidator in terms of order dated 08.03.2016, the Official Liquidator sent notices dated 25.04.2016 under the provisions of sections 454 and 456 of the Companies Act, 1956 and Rule 130 of the Companies (Court) Rules, 1959, to the Ex-Directors of the Respondent Company, namely, Mr. Surender Kumar Hooda, Mr. Michael Brian Collins, Mr. Vipin Kapur, Mr. Harish Chander Mehrotra, Mr. Arun Kumar Kotwal, Mr. Rakesh Kumar Nagpal and Mr. Sunil Gandhi.

(b) It has further been stated that the statements under Rule 130 of the Companies (Court) Rules, 1959 of Mr. Surender Kumar Hooda, Mr. Arun Kumar Kotwal, Mr. Rakesh Kumar Nagpal and Mr. Sunil Gandhi have been recorded on 08.06.2016 and 22.07.2016. It has however been stated that the Statement of Affairs in relation to the respondent company in provisional liquidation has not yet been filed, by the concerned officers.

(c) Further, it has been stated that in compliance to the directions in the said order of this Court dated 08.03.2016, a team from the office of the Official Liquidator visited the registered office of the Respondent Company located at 504, Fifth Floor, Bhikaji Cama Bhawan, Bhikaji Cama Place, New Delhi on 06.04.2016. Upon reaching the said premises, no signboard/name-plate pertaining to the Respondent Company was found and the said premises was found locked. Upon conducting some inquiry, the team of t