What the Supreme Court held on transfer of SIC Act winding up cases pending in High CourtsDecember 13 2018
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
With a premium account you get:
- One year of unrestrcited access to previous interviews, columns and articles
- One year access to all archival material
- Access to all Bar & Bench reports