Is there bar for initiating fresh petition(CIRP) in relation to a Company before the NCLT while the pendency of winding up proceedings in High Court?- Vinod Kumar Jain Vs. Jaipur Metals and Electricals- Rajasthan High Court
Thus, the legislature clearly intended to transfer the proceedings where no action has been taken by the concerned Court whereas in the present case, the proceedings have been going on since 2002 and the present case is not of such a nature where it can be said that notices have not been issued or the steps under the Act of 1956 have not been undertaken with regard to winding up. Thus, there was no occasion for the applicant ALCHEMIST to have approached the NCLT for invoking the provision of the Rules of 2016.
The order of NCLT, while invoking the provisions under IBC 2016 is without jurisdiction and the entire proceedings of appointment of IRP is held to be non-est and liable to be ignored.
Accordingly, the State Government is directed not to allow the IRP to function or take over any asset of the Company and ignore the order passed by the NCLT dated 13/04/2018.
