Supreme Court of India · 2020-12-15
ACTION ISPAT AND POWER PVT. LTD. vs SHYAM METALICS AND ENERGY LIMITED
- Citation / case number
- SC 2019/39493
- Court
- Supreme Court of India
- Petitioner
- ACTION ISPAT AND POWER PVT. LTD.
- Respondent
- SHYAM METALICS AND ENERGY LIMITED
- Author
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN
- Bench
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN, HON'BLE MR. JUSTICE NAVIN SINHA, HON'BLE MR. JUSTICE K.M. JOSEPH
Judgment text excerpt
The Supreme Court upheld the Delhi High Court's decision to transfer a winding up petition from the High Court to the National Company Law Tribunal (NCLT). The court found that the winding up proceedings were appropriate for the NCLT as per the provisions of the Companies Act, 1956. The judgment clarified the jurisdictional issues concerning winding up petitions and affirmed the lower court's order, thereby ensuring that such matters are handled by the specialized tribunal.