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TMI Blog2019 (9) TMI 1655X X X X Extracts X X X X X X X X Extracts X X X X ..... unal Bench at Ahmedabad. 2. The facts of the case reveal that a company petition was preferred by Kanak Fairdeal (India) Private Limited against another company i.e. Alfavision Overseas (India) Private Limited under Section 433(e) of the Companies Act, 1956 and during the pendency of the Company Petition, an application was preferred for transfer of the company petition to National Company Law Tribunal Bench at Ahmedabad for initiation of Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. 3. It was argued by the learned counsel appearing for the company petitioner that NCLT is competent to hear such petition, and therefore, the matter be transferred to NCLT. 4. The prayer was opposed by the learned co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . in Civil Appeal No. 818/2018, wherein by the judgment dated 22.1.2019 it has been held that- "17. The resultant position in law is that, as a first step, when the Code was enacted, only winding up petitions, where no notice under Rule 26 of the Companies (Court) Rules was served, were to be transferred to the NCLT and treated as petitions under the Code. However, on a working of the Code, the Government realized that parallel proceedings in the High Courts as well as before the adjudicating authority in the Code would stultify the objective sought to be achieved by the Code, which is to resuscitate the corporate debtors who are in the red. In accordance with this objective, the Rules kept being amended, until finally Section 434 was its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notified at Indore. That apart, in terms of the dictum of the Supreme Court, this petition is required to be transferred to NCLT. Hence, I am of the opinion that IA No. 5129/19 deserves to be and is accordingly allowed and the present petition is transferred to NCLT, Ahmedabad which currently having the jurisdiction. Let the needful be done by the Principal Registrar of this Court." 5. The learned Company Judge has rightly transferred the company petition to NCLT keeping in view the judgment delivered in the case of Forech India Limited v/s. Edelweiss Assets Reconstruction Co. Ltd. in Civil Appeal No. 818/2018. 6. The aforesaid judgment makes it very clear that in a winding up petition, even in which, notice has been served, any perso ..... X X X X Extracts X X X X X X X X Extracts X X X X
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