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PRATHIBA M. SINGH
Citicorp International Limited – Appellant
Versus
Shiv-vani Oil & Gas Exploration Services Ltd. – Respondent
JUDGMENT
Prathiba M. Singh, J. (Oral)--This hearing has been done through hybrid mode.
CO. APPL.586/2022 in CO.PET. 446/2013
2. The present Application has been moved by Mr. Ramesh Aggarwal seeking impleadment on account of being a necessary party in the current petition. It is the case of the Applicant that he is the sole and absolute owner of the following properties situated at:
(1) District - West Tripura, Sub-Division and Sub-Registry Sadar, Tehsil & Mouja - North Champamura, appertaining to Khatian No. 1383, Touji No. 1223/P, Sabek Dag No. 4186/P, 4185, 4184, Hal Plot No. 7024/P, 7025, 7026, measuring 0.74 acres classified as Viti (Tilla), Tilla by way Rayati Jote.
(2) District - West Tripura, Sub - Division and Sub - Registry Sadar, Tehsil & Mouja-Uttar Champamura, appertaining to Jote Khatian No. 2940, Sabek Dag No. 4204/P, Hal Plot No.7023/9156, measuring 0.16 acres classified as Tilla, by way of Rayati Jote.
(3) District-West Tripura, Sub.-Division and Sub-Registry Sadar, Tehsil & Mouja-Uttar Champamura, appertaining to Jote Khatian No. 5260, Sabek Dag No. 4183, Hal Plot No. 7014, measuring 0.39 acres classified as Bastu (Tilla), by way of Rayati Jote.
3. The Applicant claim
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....
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....
No question of the NCLT sitting over the judgment and orders passed by previous bodies like BIFR, AAIFR or even learned Single Judge as was sought to be made out. On the contrary, we feel that the de....
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.
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