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Vikrant Forge Limited vs Tecpro Systems Limited on 22 February, 2019

Author: Jayant Nath

Bench: Jayant Nath

$~CP-79
*    IN THE HIGH COURT OF DELHI AT NEW DELHI
+    CO.PET. 42/2014
     VIKRANT FORGE LIMITED                     ..... Petitioner
                      Through Ms.Purti Marwaha, Adv.
               versus
     TECPRO SYSTEMS LIMITED                    ..... Respondent
                      Through
     CORAM:
     HON'BLE MR. JUSTICE JAYANT NATH
                         ORDER

% 22.02.2019 CA 174/2019 This application is filed under section 434 of the Companies Act, 2013 seeking transfer of the present petition to the NCLT. The application is filed pursuant to directions of the Supreme Court in a judgment dated 22.1.2019 in Civil appeal No.818/2018 titled Forech India Ltd. vs. Edelweiss Asset Construction Company Ltd.. In the said judgment the Supreme Court in para 23 held as follows:-

"23. Though, we are not interfering with the Appellate Tribunal's order dismissing the appeal, we grant liberty to the appellant before us to apply under the proviso to Section 434 of the Companies Act (added in 2018), to transfer the winding up proceeding pending before the High Court of Delhi to the NCLT, which can then be treated as a proceeding under Section 9 of the Code."

In view of the above, present application is allowed.

The petition stands transferred to NCLT. Parties to appear before the NCLT on 11.3.2019 JAYANT NATH, J FEBRUARY 22, 2019/n