M/S Luvata Netherlands Bv vs M/S G.S. Radiators Ltd

Punjab-Haryana High Court

M/S Luvata Netherlands Bv vs M/S G.S. Radiators Ltd on 22 March, 2024

RAJ KUMAR

3.1 CP-114-2011 (O&M)
M/S. LUVATA NETHERLANDS BV VS. M/S. G. S. RADIATORS PVT. LTD.

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Present: | Mr. Akshay Bhan, Sr. Advocate with
Mr. Abhijit Singh Rawaley, Advocate for the petitioner.

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This is the petition filed by the petitioner under Section
433(e)(f) and 434 of the Companies Act, 1956 for winding up of respondent

It is not even in dispute that the winding up order has not been passed in the present case. In the judgment rendered in the case of Action Ispat and Power Pvt. Lid. Vs. Shyam Metalics and Energy Litd., Civil Appeal No.4041 of 2020, decided on 15.12.2020, the Supreme Court of India has held that not only before passing of winding up order; but even after passing of the winding up order the matter could be transferred to the National Company Law Tribunal (for short, 'NCLT'), unless something irreversible has happened in the case.

Since the matter has not reached to a stage where anything has become irreversible, therefore, this court deems it appropriate to transfer the present petition to the NCLT, Chandigarh Bench.

Accordingly, it is ordered that the case; along with its entire record; be transferred to the NCLT, Chandigarh. However, it is further ordered that the NCLT, Chandigarh shall proceed in the matter further from the same stage at which the matter had reached before this Court.

The NCLT, Chandigarh shall, accordingly, register the matter as it is received from the High Court and shall pass appropriate orders qua winding up of the Company after hearing the arguments of the parties, without requiring filing of any fresh or further pleadings.

document/judgment CP-114-2011 (O&M) -2- Although the counsel for the petitioner has submitted that by not following the settlement to which they had agreed, the respondents have committed contempt qua the order passed by this court, however, this court does not find any such contempt committed by the respondent, in any manner.

22™" March, 2024 (RAJBIR SEHRAWAT) 'raj' JUDGE RAJ KUMAR 2024.04.02 18:22 I attest to the accuracy and integrity of this document/judgment