Action Ispat and Power Pvt. Ltd. Vs Shyam Metalics and Energy Ltd.

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Last updated: 22 December 2020
Quick Summary
The Supreme Court has upheld a Delhi High Court decision to transfer a winding-up proceeding from the High Court to the National Company Law Tribunal (NCLT). This case involved Shyam Metalics and Energy Ltd. filing a petition to wind up Action Ispat and Power Pvt. Ltd. due to an outstanding debt of Rs. 4.55 crore for goods supplied.

Court :
Supreme Court of India

Brief :
These appeals arise out of a judgment of the Division Bench of the Delhi High Court dated 10.10.2019 by which a Single Judge’s order dated 14.01.2019 transferring a winding up proceeding pending before the High Court to the National Company Law Tribunal [“NCLT”] was upheld. The brief facts necessary to appreciate the controversy involved in these appeals are as follows:

Citation :
CIVIL APPEAL NO. 4041 OF 2020

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