- (1.) Cp No. 40/2016 I None for the petitioner. On previous occasion in the forenoon Session, there was no representation from petitioner side. Later on only petitioner counsel appeared.
(2.) The Main issue involved in the present Company Petition is such, as to whether can the Present Petition be survived in this Bench after the enactment of Insolvency and Bankruptcy Code, 2016 and because of the . provision of Sections 433 & 434 of the Companies Act, 1956, now stands amended with the corresponding Provisions of Section 272 of the Companies Act, 2013.
(3.) The purpose of liquidation/winding up of a company and such provision has further been substituted with the relevant provision of Chapter III of the I & B Code, 2016. Hence, we feel that the present company petition now become infructuous and it cannot be maintainable before this Bench, until and unless, the same is amended suitably or a fresh petition is filed in accordance with law.;