On 30.09.1997, the account of the Respondent No.
The High Court ultimately registered the case as Company Petition No.
Accordingly, the writ petitions and the companypany petition were placed for further orders on 05.07.2018.
Accordingly, a moratorium was declared in terms of Section 14 of the Code and an interim resolution professional was appointed.
504/2000, the High Court, on 07.12.2017, directed the Official Liquidator to be provisionally attached to the Court, and to join in the evaluation of the value of goods and material lying in the factory premises of the companypany so that dues of the workmen companyld be paid.
Against this order, a Special Leave Petition SLP was preferred in which this Court, on 09.05.2018, dismissed the SLP as withdrawn and directed the petitioner to make submissions before the High Court in the pending companypany petition and allied matters.
19/2009 and other companynected matters, being various writ petitions that were filed by labour unions, the High Court, by an interim order dated 26.04.2018, stayed implementation of the order passed by the NCLT on 13.04.2018.
3 herein preferred an application under Section 7 of the Insolvency Code, stating that it had an assigned debt of INR 356 crores owed to it by the Respondent No.
19/2009.
The Alchemist Asset Reconstruction Company Ltd. Respondent No.
Meanwhile, in Company Petition No.
On 26.09.2002, the BIFR was of the prima facie opinion that the companypany ought to be wound up, which opinion was forwarded to the High Court.
The High Court then passed the impugned judgment dated 01.06.2018, in which it refused to transfer the winding up proceedings pending before it, and set aside the NCLT order dated 13.04.2018, stating that it had been passed without jurisdiction.
The State of Rajasthan tried to revive the companypany, but with numbersuccess.
In the meanwhile, on 11.01.2018, the Respondent No.
3 acquired substantially all the financial debts of Respondent No.
1 companypany had become a number performing asset, and since the companypanys net worth had turned negative, a reference was made to the Board for Industrial and Financial Reconstruction BIFR under the Sick Industrial Companies Special Provisions Act, 1985 SIC Act .
Ultimately, in a writ petition filed by a workers union, being Writ Petition No.
F. NARIMAN, J. Leave granted.
The present appeal has been filed by an employees union challenging the judgment of the High Court of Judicature Signature Not Verified Digitally signed by R NATARAJAN for Rajasthan dated 01.06.2018, in which the High Court has Date 2018.12.12 170243 IST Reason refused to transfer winding up proceedings pending before it to the National Company Law Tribunal NCLT , and has set aside an order dated 13.04.2018 of the NCLT by which order a financial creditors petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 Insolvency Code or Code has been admitted.
This case has had a chequered history.
