M/S. ASHOK COMMERCIAL ENTERPRISES Vs. PAREKH ALUMINEX LIMITED
HIGH COURT OF BOMBAY
M/S. Ashok Commercial Enterprises
Parekh Aluminex Limited
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(1.) By this petition filed under the provisions of section 433 (e) read with section 434(1)(a) and section 439 of the Companies Act, 1956, the petitioner seeks winding up of the respondent company on the ground that the respondent is unable to pay its debts.
(2.) This petition was placed on board for admission from time to time in last more than two years along with several other petitions for similar reliefs against the respondent. Learned counsel for the petitioner and the respondent however have addressed this court in this company petition and the same is thus considered by this court first.
(3.) Mr. Andhyarujina, learned counsel for the respondent has raised a preliminary objection about this court hearing this company petition along with other companion petitions at this stage on the ground that the winding up petition filed by ICICI Bank against the respondent is transferred to National Company Law Tribunal in view of the amendment to the provisions of Insolvency and Bankruptcy Code, 2016 (for short the said Code) and in view of the notification dated 7th December, 2016 issued by the Central Government in exercise of the powers conferred under sub-sections 1 and 2 of section 434 transferring various proceedings pending before the High Court to the National Company Law Tribunal. (For short "NCLT");
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