Kotak Mahindra Bank Ltd. v. Twenty First Century Wire Rods Ltd.

$~CP-3, 4 and 5 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 598/2015 KOTAK MAHINDRA BANK LTD.

..... Petitioner Through Mr.Himanshu Bhushan and Mr.Kreshnayan Sen, Advs.

versus TWENTY FIRST CENTURY WIRE RODS LTD...... Respondent Through Mr.Saurabh Kalia and Mr.Harshit Agarwal, Advs.

Mr.Sumit Nagpal, Adv. for IDBI Bank Ltd.

+ CO.PET. 964/2015 ROHIT & COMPANY ..... Petitioner Through Mr.Anuj and Mr.Abhijya, Advs.

versus TWENTY FIRST CENTURY WIRE RODS LIMITED. & ANR. ..... Respondent Through Mr.Saurabh Kalia and Mr.Harshit Agarwal, Advs.

+ CO.PET. 1135/2016 SUNRISE MINING COMPANY PVT LTD ..... Petitioner Through Mr.Amardeep Singh, Adv.

versus TWENTY FIRST CENTURY WIRE RODS LIMITED.... Respondent Through Mr.Saurabh Kalia and Mr.Harshit Agarwal, Advs.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 06.08.2018 CA No.729/2018 in CP 598/2015 This application is filed under section 434 of the Companies Act, 2013 for transfer of the present proceedings to National Company Law

Board Tribunal (NCLT). It has been pleaded that pursuant to amendments to The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, this court can transfer pending proceedings before the NCLT. Hence, the present petition. Learned counsel appearing for the petitioner has also pointed out that the respondents have moved a petition under section 10 of The Insolvency and Bankruptcy Code, which is also pending before the NCLT. He submits it would be in the fitness of things that this petition and the petition filed by the respondents are adjudicated upon together. Learned counsel appearing for the respondent submits that he has no objection to transfer of these petitions to NCLT. Accordingly application is allowed.

CO.PET. 598/2015 CO.PET. 964/2015 CO.PET. 1135/2016 These petitions are transferred to NCLT. Parties to appear before the NCLT. Interim order shall continue for a period of three months from now. NCLT is free to continue/modify or vacate the order as per law. JAYANT NATH, J AUGUST 06, 2018 n