- (1.) This petition was originally filed before Hon'ble Delhi High Court u/s 433 (e), 434 and 439(b) of the Companies Act, 1956 for winding up. On the constitution of the NCLT and in pursuance of notification D.L.33004/99 dated 07.12.2016 issued by Ministry of Corporate Affairs the Hon'ble High Court transferred the matter to this Tribunal and passed the following order on 13.01.2017 as no notice of the petition was served on the Respondent:- "In terms of the notification Regd. No.D.L.33004/99 dated 7.12.2016 issued by Ministry of Corporate Affairs and in particular, Clause 5 thereof, the present winding up petition under sections 433 (e), 434 and 439(b) of the Companies Act, 1956, stands transferred to the Principal Bench, National Company Law tribunal, New Delhi (hereinafter referred to as'NCLT'). In the first instance, list this matter before the Principal Bench, NCL T on 14th March 2017 for further proceedings, in accordance with law. The Registry is directed to transmit the record of the present petition to the Principal Bench, NCL T, forthwith. "
(2.) The matter came up for consideration of this Tribunal and eventually the paper book was completed in terms of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 and the Companies (Transfer of Pending Proceedings) Rule, 2016. The 'Operational Debtor' has been served because the packet sought to be served on it has come back with the endorsement that the addressee had refused to receive the same.
(3.) We have heard learned counsel for the 'Operational Creditor at length.;