What the Supreme Court held on transfer of SIC Act winding up cases pending in High Courts

Aditya AK December 13 2018
supreme court, winding up

The Supreme Court has held that winding up cases under Section 20 of the defunct Sick Industrial Companies (SIC) Act pending before the High Court must be transferred to the National Company Law Tribunal (NCLT) once a party files an application as per Section 7 of the Insolvency and Bankruptcy Code.

A judgment to this effect was passed by a Bench of Justices Rohinton Nariman and MR Shah in a petition filed by the workers’ union of Jaipur Metals & Electricals (company).

This content is restricted to subscribers