{"id":323090,"date":"2024-05-28T16:00:24","date_gmt":"2024-05-28T10:30:24","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=323090"},"modified":"2024-05-30T12:12:54","modified_gmt":"2024-05-30T06:42:54","slug":"dhc-transfers-case-for-winding-up-of-company-to-nclt-says-proceedings-still-at-nascent-stage-scc-times","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2024\/05\/28\/dhc-transfers-case-for-winding-up-of-company-to-nclt-says-proceedings-still-at-nascent-stage-scc-times\/","title":{"rendered":"\u2018Proceedings still at a nascent stage\u2019; Delhi High Court transfers case for winding up of company to NCLT"},"content":{"rendered":"
\n

Delhi High Court:<\/span> In a company petition seeking the winding up of the respondent company due to the non-payment of outstanding dues amounting to US$ 723,193.03\/- along with interest, a Single Judge Bench of Dharmesh Sharma, J., while holding the petition maintainable, transferred the proceedings to the National Company Law Tribunal (‘NCLT’) in view that the matter was at a nascent stage and had not progressed to an advanced stage as no substantive orders had been passed towards the winding up of the respondent company.<\/p>\n

Background<\/p>\n

The present company petition was instituted under Sections 433(e) and (f) read with Sections 434<\/a> and 439<\/a> of the Companies Act, 1956<\/a>, and sought the winding up of the respondent company. The respondent company, incorporated as a ‘Foreign Company’ under the Companies Act, 1956<\/a>, was engaged in the business of providing drilling services for the oil and gas sector.<\/p>\n

The respondent company placed a purchase order worth US$ 738,380\/- with the petitioner company for the supply of CIF Kolkata Port casing material of the desired specifications. After the receipt of the purchase order, certain terms of agreement related to the charges of delayed payments were not agreeable to the petitioner company. Therefore, correspondence ensued between the parties, and it was agreed, vide e-mail dated 16-12-2014, that charges of 1% per month would be payable for delayed payments and liquidated damages were waived off. Thereafter, another purchase order was placed by the respondent company for the supply of casing material of a different specification, and the said order amounted to US$ 199,466,50\/-.<\/p>\n

The petitioner company stated that it duly supplied the goods to the respondent company as per the purchase orders and raised certain invoices against the same dated 29-12-2014, 05-02-2015, and 15-02-2015 for a total amount of US$ 818,496.58\/-. Further, it was also contended that except for the amount of US$ 147,111.66\/- which was paid by the respondent company in instalments, no further payments were made. The petitioner company raised certain invoices in respect of delay in payments and these amounted to US$ 66,957.34\/-.<\/p>\n

The respondent company repeatedly gave assurances to the petitioner company that the payment of outstanding dues would be made but despite several reminders, no payment was made because of which the petitioner company served upon them a legal notice dated 15-10-2015 under Section 434<\/a> of the Companies Act, 1956<\/a>. Even though the legal notice was received by the respondent company, neither did the company respond nor did it comply with the demand raised therein.<\/p>\n

Analysis and Decision<\/p>\n

After perusing the records, the Court noted that no substantive orders related to the winding up of the company had been passed after the order dated 14-08-2018 through which the liquidator of the respondent company was appointed.<\/p>\n

\n

The Court stated that to determine whether or not the present winding-up petition was maintainable, reference would have to be made to Section 583<\/a> of the Companies Act, 1956<\/a> which brings out the fact that the respondent company was an unregistered company and the circumstances under which it may be wound up are indicated in Section 583(4)<\/a> of the Companies Act, 1956<\/a>. The Court noted that since the respondent company had not paid its debts, the winding-up proceedings against the company were maintainable.<\/p>\n

Further, the Court stated that even an unregistered company would be subject to the winding up proceedings under Part II comprising of Section 375<\/a> of the Companies Act, 2013<\/a>, and that sub-clause 3(b) is pari materia<\/span> to Section 583<\/a> of the Companies Act, 1956<\/a>. To further establish this ground, the Court referred to the Supreme Court’s decision in Rajah of Vizianagram<\/span> v. Official Receiver and Official Liquidator of Vizianagaram Mining Co. Ltd.<\/span>, 1962 Supp (1) SCR 344<\/a> as well as Calcutta High Court’s view in Deutsche Dampschiffshrts Gessellschaft “Hansa” Bremen<\/span> v. Bharat Aluminium Co. Ltd.<\/span>, 1983 SCC OnLine Cal 216<\/a>.<\/p>\n

The Court opined that the winding up petition was maintainable and since the proceedings were at a nascent stage, it was found appropriate by the Court to transfer the matter to the NCLT. The Court found it necessary to consider Section 434<\/a> of the Companies Act, 2013<\/a> which provides for the transfer of winding up proceedings that are pending before the High Courts to the NCLT.<\/p>\n

In Citicorp International Limited<\/span> v. Shiv-Vani Oil & Gas Exploration Services Ltd.<\/span>, 2017 SCC OnLine Del 9390<\/a>, this Court placed reliance on Action Ispat & Power (P) Ltd.<\/span> v. Shyam Metalics & Energy Ltd.<\/span>, (2021) 2 SCC 641<\/a> and held that winding up proceedings that are pending before the High Courts, which are at a nascent stage and have not progressed to an advanced stage, ought to be transferred to the NCLT.<\/p>\n

The Court, while disposing of the petition, held that since it was evident that the present company petition had not reached an advanced stage and no substantive orders had been passed toward the winding up of the respondent company, the matter was to be transferred to the NCLT. The Court directed the parties to appear before the NCLT on 09-07-2024.<\/p>\n

[Arabian Oilfield Suppliers & Services v. Greka Drilling (India) Ltd., 2024 SCC OnLine Del 3654<\/a>, Decided on 17-05-2024<\/span>]<\/p>\n\n

Advocates who appeared in this case :<\/p>\n

For Petitioner —<\/span> Advocate Saurabh Jain, Advocate Prayag Jain<\/p>\n

For Respondent —<\/span> Advocate Yogesh Jagia, Advocate Amit Sood, Advocate Chandan Dutta<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Delhi High Court said that the winding up proceedings which have not progressed to an advanced stage before the High Courts, ought to be transferred to the NCLT.<\/p>\n","protected":false},"author":67011,"featured_media":314886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,10],"tags":[27634,2543,2880,69154,69192,12521,13351,69191,69193],"class_list":["post-323090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-highcourts","tag-companies-act","tag-Delhi_High_Court","tag-Foreign_Company","tag-justice-dharmesh-sharma","tag-nascent-stage","tag-nclt","tag-transfer-of-case","tag-winding-up-of-company","tag-winding-up-proceedings"],"yoast_head":"\n\u2018Proceedings still at a nascent stage\u2019; Delhi HC transfers case for winding up of company to NCLT | SCC Times<\/title>\n<meta name=\"description\" content=\"Delhi High Court transfers case for winding up of company to National Company Law Tribunal, as proceedings were still at a \u2018nascent\u2019 stage.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/05\/28\/dhc-transfers-case-for-winding-up-of-company-to-nclt-says-proceedings-still-at-nascent-stage-scc-times\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Proceedings still at a nascent stage\u2019; 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The main question for consideration before the Special Bench, NCLT, New Delhi was whether the process under the Insolvency and\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/04\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/04\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/04\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/04\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/04\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":256106,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/27\/interplay-between-ibc-and-companies-act-regarding-winding-up-petitions\/","url_meta":{"origin":323090,"position":2},"title":"Kar HC | Interplay between IBC and Companies Act regarding winding up petitions; Court decides in matter of transfer of company petition to NCLT","author":"Editor","date":"October 27, 2021","format":false,"excerpt":"Karnataka High Court: S. Sunil Dutt Yadav, J., decided in the matter of a petition which was filed praying to transfer a company petition on the file of the High of Karnataka to the National Company Law Tribunal, Bengaluru under the Insolvency and Bankruptcy Code, 2016. Company petition had been\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":239376,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/19\/not-just-the-petitioning-creditor-but-any-creditor-can-initiate-transfer-of-winding-up-proceedings-from-a-company-court-to-nclt-holds-sc\/","url_meta":{"origin":323090,"position":3},"title":"Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC","author":"Prachi Bhardwaj","date":"November 19, 2020","format":false,"excerpt":"Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":95241,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/31\/pending-winding-up-petitions-of-companies-which-have-not-been-served-before-high-court-shall-stand-transferred-to-national-company-law-tribunal\/","url_meta":{"origin":323090,"position":4},"title":"Pending winding up petitions of companies which have not been served before High Court shall stand transferred to National Company Law Tribunal","author":"Saba","date":"December 31, 2016","format":false,"excerpt":"Bombay High Court: In a case dealing with petitions pending admission before the High Court filed under the Companies Act, 1956 where winding up of a company was sought, the Single Bench of S.C. Gupte, J held that every winding up petition under clause (e) of Section 433 which is\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":251916,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/30\/winding-up-proceedings\/","url_meta":{"origin":323090,"position":5},"title":"Guj HC | Court directs transfer of winding-up proceedings to NCLT; scattering litigation to various forums leads to multiplicity, abuse of process of law","author":"Editor","date":"July 30, 2021","format":false,"excerpt":"Gujarat High Court: The Division Bench of Vineet Kothari and B.N. Karia, JJ., took up a petition which dealt with the parties not only filing Civil Suits, Writ Petitions, and Letters Patent Appeals under Article 226 of the Constitution but also going for forum shopping. The Writ petition was dismissed\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/12\/1200px-Gujarat-High-Court-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/12\/1200px-Gujarat-High-Court-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/12\/1200px-Gujarat-High-Court-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/12\/1200px-Gujarat-High-Court-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/12\/1200px-Gujarat-High-Court-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/323090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=323090"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/323090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/314886"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=323090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=323090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=323090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}