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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 434 of the Companies Act, 2013 (18 of 2013) read with sub-section (1) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the Code), the Central Government hereby makes the following rules, namely:- 1. S .....

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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 in the respective Act or rules or the Code, as the case may be. 3. Transfer of pending proceedings relating to cases other than Winding up.-All proceedings under the Act, including proceedings relating to arbitration, compromise, arrangements and reco .....

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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 petitions relating to winding up under clause (e) of section 433 of the Act on the ground of inability to pay its debts pending before a High Court, and where the petition has not been served on the respondent as required under rule 26 of the Companies (Cou .....

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