M/S TRIGO IMAGEMENT SLOVAKIA vs MADHUSUDAN AUTO LIMITED

Judgment text excerpt

$~CO.5 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision: 10.07.2025 + CO.PET. 725/2014 M/S TRIGO IMAGEMENT SLOVAKIA .....Petitioner Through: Mr. Viraat Tripathi, Adv. versus MADHUSUDAN AUTO LIMITED .....Respondent Through: Mr. Pradeep Aggarwal, Mr. Aman Kumar, Advs. CORAM: HON'BLE MS. JUSTICE TARA VITASTA GANJU TARA VITASTA GANJU, J.: (Oral) 1. The present Petition has been filed under Section 433(1)(e) of the Companies Act, 1956 for winding up of the Respondent Company. 2. Learned Counsel for the Respondent submits that in terms of the judgment of the Supreme Court in Action Ispat and Power Pvt. Ltd. vs Shyam Metalics and Energy Limited1 and Notification G.S.R. 1119(E) dated 07.12.2016 issued by the Ministry of Corporate Affairs, the matter is to be transferred to the National Company Law Tribunal for adjudication. 3. Learned Counsel for the Petitioner concurs with this contention. 4. A review of the record shows that the winding up petition although pending for some time before this Court is at a preliminary stage. The petition has not been admitted and thus the Professional Liquidator or Official Liquidator has not been appointed. In fact, no substantive orders have been passed in this petition for several years. 1 (2021) 2 SCC 641 Signature Not Verified Digitally Signed By:RAHUL Signing Date:12.07.2025 CO.PET. 725/2014 Page 1 of 3 04:57:22 5. The Supreme Court in Action Ispat case has held that where winding up petition pending before the High Court has not progressed to an advanced stage, it ought to be transferred to the National Company Law Tribunal. The Supreme Court has held that even post-admission of a winding-up Petition, and after the appointment of a liquidator, the discretion is vested in the Company Court to transfer such Petition to the NCLT.