9911796707
TMI Blog2024 (5) TMI 426X X X X Extracts X X X X X X X X Extracts X X X X ..... period of June 2013 to 04.11.2015. 2. Briefly stated, the parties entered into a lease deed dated 01.06.2012, which was duly registered and stamped, whereby the respondent company was granted a lease for the basement, first floor and second floor of a commercial property owned by the petitioner, situated at SCO No. 42-43, Section 9-D, Chandigarh. It is stated that said lease was for a period of 9 years and it was agreed that monthly rental of Rs. 9,25,000/- was payable. Further, the lease deed stipulated a lock-in period of 2 years with a clause for escalation of rent @ 5% per year. 3. It is the case of the petitioner that the respondent company has been a serial defaulter in making payments of the due rent and that the cheques issued at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the present petition has been filed. However, from a perusal of the record, it is borne out that the present company petition is a complete non-starter, in so far then neither a Provisional Liquidator nor an Official Liquidator has yet been appointed in the present petition. 7. In view of the fact that the Insolvency and Bankruptcy Code, 2016 as well as the Companies Act, 2013, have since been enacted during the pendency of these proceedings, it is the opinion of this court that the present petition does not deserve to continue before this Court, and it would be appropriate for the same to be transferred to the National Company Law Tribunal NCLT. In this regard, due consideration of Section 434 of the Companies Act, 2013 is necessary, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal and the Tribunal may proceed to deal with such proceedings from the stage before their transfer. Provided that only such proceedings relating to the winding up of companies shall be transferred to the Tribunal that are at a stage as may be prescribed by the Central Government: [Provided further that only such proceedings relating to cases other than winding-up, for which orders for allowing or otherwise of the proceedings are not reserved by the High Court shall be transferred to the Tribunal: [Provided also that-] (i) all proceedings under the Companies Act, 1956 other than the cases relating to winding-up of companies that are reserved for orders for allowing or otherwise such proceedings; or (ii) the proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Supreme Court in the case titled Action Ispat and Power Private Limited v. Shyam Metalics and Energy Limited (2021) 2 SCC 641, whereby it was held that those winding up proceedings pending before High Courts, which have not progressed to an advanced stage, ought to be transferred to the NCLT. The relevant extract of the said decision is as follows: "22. Given the aforesaid scheme of winding up under Chapter XX of the Companies Act, 2013, it is clear that several stages are contemplated, with the Tribunal retaining the power to control the proceedings in a winding up petition even after it is admitted. Thus, in a winding up proceeding where the petition has not been served in terms of Rule 26 of the Companies (Court) Rules, 1959 at a pread ..... X X X X Extracts X X X X X X X X Extracts X X X X
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