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2019 Supreme(Del) 1982

VIPIN SANGHI, SANJEEV NARULA
Action Ispat And Power Pvt. Ltd. – Appellant
Versus
Shyam Metalics And Energy Limited – Respondent


Advocates Appeared:
Maneesha Dhir, Adv., Varsha Banerjee, Adv., Kund Godhwani, Adv., Kunal Godwani, Adv., Ramji Srinivasan, Adv., Sylona Mohapatra, Adv., R.S. Lakshman, Adv., Sindhu T.P., Adv., Ashwini Kumar Singh, Adv., P.V. Dinesh, Adv., Kishan Lal, Adv., Arjun Nanda, Adv., Shreya Nair, Adv., J. Amol Anand, Adv., Ytharth Kumar, Adv., Ruchi Sindhwani, Adv., Megha Bharara, Adv., Deepak Anand, Adv., Ayushman, Adv.

JUDGMENT :

Vipin Sanghi, J.

The instant appeal has been preferred in the name, and on behalf of the appellant company, by Mr. Naresh Kumar Aggarwal, who claims himself to be the Managing Director of the said appellant company, to assail the order dated 14.01.2019 passed by the Ld. Company Judge in Application - C.A. No. 1240/2018, in Co. Pet. No. 731/2016. By the impugned order, the Ld. Company Judge allowed the said Application preferred by respondent No.2 - SBI, and directed transfer of the Company Petition to the National Company Law Tribunal (NCLT). The Learned Company Judge revoked the order dated 27.08.2018 admitting the winding up petition and appointing the Official Liquidator as the provisional Liquidator.

2. Shyam Metalics & Energy Ltd., Respondent No.1, filed the aforesaid winding up petition under Sections 433(e) and 433(f) of the Companies Act, 1956 before the Ld. Company Judge, on the ground of appellant's inability to pay its debts. On 22.08.2016, notice of the winding up petition was duly served on the appellant. However, no representation was made in its behalf. The matter was adjourned to 7.11.2016. Thereafter, attempts were made to settle the issue before the Delhi

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