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Companies (Transfer of Pending Proceedings) Rules, 2016

Companies Law - F. No. 1/5/2016– CL-V - G.S.R. 1119(E) - Dated:- 7-12-2016 - MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 7th December, 2016 G.S.R. 1119(E).- In exercise of the powers conferred under sub-sections (1) and (2) of section 4 .....

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hort title and Commencement. - (1) These rules may be called the . (2) They shall come into force with effect from the 15th December, 2016, except rule 4, which shall come into force from 1st April, 2017. 2. Definitions.- (1) In these rules, unless t .....

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e rules and not defined, but defined in the Companies Act, 1956 (1 of 1956) (herein referred to as the Act), the Companies Act, 2013 (18 of 2013) or the Companies (Court) Rules, 1959 or the Code shall have the meanings respectively assigned to them i .....

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nstruction, other than proceedings relating to winding up on the date of coming into force of these rules shall stand transferred to the Benches of the Tribunal exercising respective territorial jurisdiction: Provided that all those proceedings which .....

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h Court on the date of commencement of this rule, shall continue with and dealt with by the High Court in accordance with provisions of the Act. 5. Transfer of pending proceedings of Winding up on the ground of inability to pay debts.-(1) All petitio .....

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rt) Rules, 1959 shall be transferred to the Bench of the Tribunal established under sub-section (4) of section 419 of the Act, exercising territorial jurisdiction and such petitions shall be treated as applications under sections 7, 8 or 9 of the Cod .....

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of the petition under sections 7, 8 or 9 of the Code, as the case may be, including details of the proposed insolvency professional to the Tribunal within sixty days from date of this notification, failing which the petition shall abate. (2) All case .....

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Sick Industrial Companies (Special Provisions) Act, 1985 shall continue to be dealt with by such High Court in accordance with the provisions of the Act. 6. Transfer of pending proceedings of Winding up matters on the grounds other than inability to .....

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