"C/COMP/61/2014 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/COMPANY PETITION NO.61 of 2014 With R/COMPANY APPLICATION NO.67 of 2018 In COMPANY PETITION NO.61 of 2014 ========================================= GARDEN SILK MILLS LTD Versus GSL NOVA PETROCHEMICALS LIMITED ========================================= Appearance : MS MINOO A SHAH for the Petitioner. MR SUDHIR M MEHTA for the Respondent. ========================================= CORAM : HONOURABLE MR.JUSTICE A.J.DESAI Date : 26/02/2020 ORAL ORDER 1. By way of Company Application No.67 of 2018, the applicant – original respondent i.e. GSL Nova Petrochemicals Limited has prayed to transfer Company Petition No.61 of 2014 to the National Company Law Tribunal, Ahmedabad and the same be dealt with as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The applicant has also prayed to allow the applicant to make an application under the Insolvency and Bankruptcy Code, 2016 and in the meanwhile, not to proceed with the Company Petition to facilitate the Corporate Insolvency Resolution Process under the beneficial provisions of the Code. 2. Mr. Sudhir Mehta, learned advocate appearing for the applicant – original respondent would submit that as per amendment made in Insolvency and Bankruptcy Code which received assent of the President on 17.8.2018 and known as The Page 1 of 3 C/COMP/61/2014 ORDER Insolvency and Bankruptcy Code (Second Amendment) Act, 2018, the provisions of Section 434 of the Companies Act, 2013 were amended. By the said amendment, it was provided that any party or parties to any proceedings relating to the winding up of companies pending before any Court immediately before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, may file an application for transfer of such proceedings and the Court may by order transfer such proceedings to the Tribunal and the proceedings so transferred shall be dealt with by the Tribunal as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. He would further submit that another Creditor has also filed similar petition under Section 9 of the Insolvency and Bankruptcy Code before the National Company Law Tribunal, Ahmedabad and hence, the present application may be allowed and Company Petition No.61 of 2014 may be transferred to the said Tribunal. 3. Ms. Minoo Shah, learned advocate appearing for the respondent herein – original petitioner has opposed the present application. However, she would submit that if the proceedings of Company Petition are transferred, the petitioner may approach the Tribunal and put their claim. 5. I have heard learned advocates appearing for the respective parties. In view of the amended provisions referred to herein above, I am of the opinion that the present application i.e. Company Application No.67 of 2018 requires consideration and hence the same is allowed. Company Petition No.61 of 2014 is hereby transferred to the National Company Law Tribunal, Ahmedabad and the same be dealt with as an application for Page 2 of 3 C/COMP/61/2014 ORDER initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. (A.J.DESAI, J) SAVARIYA Page 3 of 3 "