R.P. Nagrath, Member - (1.) The petition dated 09.09.2016 was filed in the Hon'ble Punjab and Haryana High Court in terms of Section 433(e) of the Companies Act, 1956 with a prayer for winding up of the respondent-company for its inability to pay the debt due to the petitioner. Since the respondent was not served while the matter was pending in the Hon'ble High Court, the petition has been transferred to the Tribunal in terms of Section 5 of the Companies (Transfer of Pending Proceedings) Rules, 2016. The said Rule 5 as amended vide Notification dated 29.06.2017 reads as under:- "5. Transfer of pending proceedings of Winding upon the ground of inability to pay debts.- (1) All petitions relating to winding up of a company under clause (e) of Section 433 of the Act on the ground of inability to pay its debts pending before a High Court, and, where the petition has not been served on the respondent under rule 26 of the Companies (Court) Rules, 1959 shall be transferred to the Bench of the Tribunal established under sub-section (4) of Section 419 of the Companies Act, 2013 exercising territorial jurisdiction to be dealt with in accordance with Part-II of the Code: Provided that the petitioner shall submit all information, other than information forming part of the records transferred in accordance with Rule 7, required for admission of the petition under sections 7, 8 or 9 of the Code, as the case may be, including details of the proposed insolvency professional to the Tribunal upto 15th day of July, 2017, failing which the petition shall stand abated: Provided further that any party or parties to the petitions shall, after the 15th day of July, 2017, be eligible to file fresh applications under sections 7 or 8 or 9 of the Code, as the case may be, in accordance with the provisions of the Code: Provided also that where a petition relating to winding up of a company is not transferred to the Tribunal under this rule and remains in the High Court and where there is another petition under clause (e) of section 433 of the Act for winding up against the same company pending as on 15th December, 2016, such other petition shall not be transferred to the Tribunal, even if the petition has not been served on the respondent."
(2.) The instant petition has been treated as a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short, hereinafter to be referred as the 'Code') the petitioner being an Operational Creditor. The application has been filed in Form 5 as prescribed under Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, the 'Rules'), The Respondent-Corporate Debtor was incorporated on 28.04.2008 and its registered office is at Gurgaon, now Gurugram in the State of Haryana. The matter, therefore, falls within the territorial jurisdiction of this Tribunal. The petitioner has furnished both the addresses of registered office as well as corporate office of the respondent and both are situated at Gurgaon (now Gurugram).
(3.) The Petitioner-Operational Creditor is also a company incorporated under the Companies Act, 1956 with its registered office at Chandigarh The instant petition has been filed through Mr. Hans Raj Chaudhary, Director of the company as per the Board of Directors resolution dated 06.09.2016 (Annexure A-2). This resolution also formed part of the petition filed before the Hon'ble High Court.;