Transfer of winding up proceedings from Company Court to NCLT can be ordered at the instance of creditor who is not a party: Supreme Court

Though a winding-up proceeding might have been initiated by one or more creditors, but by a deeming fiction the petition is treated as a joint petition to which the entire body of creditors is a party
Transfer of winding up proceedings from Company Court to NCLT can be ordered at the instance of creditor who is not a party: Supreme Court
AS Bopanna, CJI Bobde and V Ramasubramanian

Transfer of winding up proceedings of company from a High Court (Company Court) to National Company Law Tribunal (NCLT) can be ordered at the instance of a creditor who is not a party to the proceeding, the Supreme Court ruled on Thursday (Kaledonia Jute and Fibres Pvt. Ltd. v. Axis Nirman and Industries Ltd).

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