Executive Summary:
This notification outlines rules for transferring pending proceedings under the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 to the National Company Law Tribunal (NCLT). These rules, called the Companies (Transfer of Pending Proceedings) Rules, 2016, specify which cases are to be transferred and how they will be treated. The rules come into effect on December 15, 2016, except for Rule 4, which is effective from April 1, 2017.
Key Points / Main Content:
* **Short Title and Commencement:**
* The rules are called the Companies (Transfer of Pending Proceedings) Rules, 2016.
* The rules came into force on December 15, 2016, except for rule 4, which comes into force on April 1, 2017.
* **Definitions:**
* "Code" refers to the Insolvency and Bankruptcy Code, 2016.
* "Tribunal" refers to the National Company Law Tribunal (NCLT).
* Undefined terms used in the rules will have the same meanings as assigned in the Companies Act, 1956, the Companies Act, 2013, the Companies Court Rules, 1959, or the Code.
* **Transfer of Pending Proceedings (Excluding Winding Up):**
* All proceedings under the Companies Act, 2013 (excluding winding up), including those related to arbitration, compromise, arrangements, and reconstruction, are transferred to the relevant NCLT Benches.
* Proceedings reserved for orders will not be transferred.
* **Pending Proceedings Relating to Voluntary Winding Up:**
* Applications and petitions related to voluntary winding up pending before a High Court on April 1, 2017, will continue to be handled by the High Court.
* **Transfer of Pending Winding Up Proceedings (Inability to Pay Debts):**
* Petitions for winding up due to inability to pay debts, pending before a High Court, and not yet served to the respondent, will be transferred to the appropriate NCLT Bench.
* These petitions will be treated as applications under sections 7, 8, or 9 of the Code.
* Petitioners must submit required information for admission under sections 7, 8, or 9 of the Code within 60 days of the notification date; failure to do so will result in abatement of the petition.
* Cases where the Board for Industrial and Financial Reconstruction has forwarded an opinion for winding up to a High Court, and no appeal is pending, will continue to be dealt with by the High Court.
* **Transfer of Pending Winding Up Proceedings (Other Grounds):**
* Petitions filed under clauses (a) and (f) of section 433 of the Companies Act, 1956, pending before a High Court, and not yet served, will be transferred to the relevant NCLT Bench and treated as petitions under the Companies Act, 2013.
* **Transfer of Records:**
* Relevant records for transferred cases will be transferred by the High Courts to the appropriate NCLT Benches.
* **Fees:**
* No fee is payable for proceedings transferred to the Tribunal under these rules.
Impact Analysis:
* **High Courts:**
* *Impact:* High Courts will transfer pending cases (as defined in the rules) to the NCLT. They will continue to handle voluntary winding-up cases and certain winding-up cases initiated based on BIFR opinions.
* *Action Required:* Transfer relevant case records to the appropriate NCLT Benches.
* **National Company Law Tribunal (NCLT):**
* *Impact:* The NCLT will receive transferred cases and handle them according to the Companies Act, 2013, or the Insolvency and Bankruptcy Code, 2016, as applicable.
* *Action Required:* Prepare to receive and process transferred cases.
* **Companies Involved in Pending Proceedings:**
* *Impact:* The forum for their cases may change from the High Court to the NCLT. The applicable laws and procedures may also change depending on the nature of the case.
* *Action Required:* Monitor the transfer of their cases and comply with any new requirements imposed by the NCLT or the applicable laws. Petitioners in winding-up proceedings due to inability to pay debts must submit additional information within 60 days.
* **Petitioners in Winding Up Petitions (Inability to Pay Debts):**
* *Impact:* Their petitions will be treated as applications under sections 7, 8, or 9 of the Insolvency and Bankruptcy Code.
* *Action Required:* Submit all required information, including details of the proposed insolvency professional, to the Tribunal within 60 days from December 7, 2016, to ensure the petition is admitted.
Key Entities Referenced
Companies Act, 2013: An Act of the Indian Parliament that regulates Indian companies.
Insolvency and Bankruptcy Code, 2016: An Indian law which consolidates the existing framework by creating a single law for insolvency and bankruptcy.
Companies Transfer of Pending Proceedings Rules, 2016: Rules framed by the Central Government regarding the transfer of pending proceedings related to companies.
National Company Law Tribunal: A quasi-judicial body in India that adjudicates issues relating to Indian companies.
High Court: Refers to the High Courts of India, which are the principal civil courts of original jurisdiction in their respective states and union territories.
Companies Act, 1956: An act to consolidate and amend the law relating to companies and certain other associations.
Companies Court Rules, 1959: Rules governing the procedure of the High Court in dealing with company matters.
Sick Industrial Companies Special Provisions Act, 1985: An act to make special provisions with a view to securing the timely detection of sick and potentially sick companies owning industrial undertakings.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (i)
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No. 838] NEW DELHI, WEDNESDAY, DECEMBER 7, 2016/AGRAHAYANA 16, 1938
कारपोरेट काय (cid:6981)मं(cid:7074)ालय
अिधसचू ना
नई (cid:7408)द(cid:7016)ली, 7 (cid:7408)दस(cid:7013)ब र, 2016
सा.का.िन. 1119(अ).— के(cid:7008)(cid:7076)ीय सरकार कंपनी अिधिनयम, 2013 (2013 का 18) क(cid:7409) धारा 434 क(cid:7409) उप
धारा 1 और 2 और सप(cid:7407)ठत (cid:7408)दवाला और शोधन अ(cid:6979)मता संिहता, 2016 (2016 का 31) (िजसे इसके बाद संिहता
कहा गया ह)ै क(cid:7409) धारा 239 क(cid:7409) उपधारा (1) के (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, एत(cid:7375)ारा, िन(cid:7388)िलिखत
िनयम बनाती ह,ै अथात(cid:6981) ् :-
1. सिं (cid:6979)(cid:7385) नाम और (cid:7079)ारंभ.—(1) इन िनयम(cid:7298) का संि(cid:6979)(cid:7385) नाम कंपनी (लंिबत कायव(cid:6981) ािहय(cid:7298) का अंतरण) िनयम,
2016 ह।ै
(2) ये िनयम 15 (cid:7408)दस(cid:7013)बर, 2016 को (cid:7079)वृ(cid:7275) ह(cid:7298)ग,े िसवाय िनयम 4 के जो 1 अ(cid:7079)ैल, 2017 से (cid:7079)वृ(cid:7275) होगा।
2. प(cid:7407)रभाषाए.ं—(1) इन िनयम(cid:7298) म(cid:7286), जब तक संदभ(cid:6981) अ(cid:7008)यथा अपेि(cid:6979)त न हो –
(क)(cid:32) “संिहता” स े(cid:7408)दवाला और शोधन अ(cid:6979)मता सिं हता, 2016 (2016 का 31) अिभ(cid:7079)ेत ह;ै
(ख)(cid:32) “अिधकरण” स े कंपनी अिधिनयम, 2013 क(cid:7409) धारा 408 के अतं ग(cid:6981)त ग(cid:7407)ठत रा(cid:7398)ीय कंपनी िविध अिधकरण
अिभ(cid:7079)ते ह।ै
(2) इन िनयम(cid:7298) म(cid:7286) (cid:7079)यु(cid:7334) श(cid:7011)द और अिभ(cid:7390)ि(cid:7334)यां जो प(cid:7407)रभािषत नह(cid:7277) ह ै पर(cid:7008)तु कंपनी अिधिनयम, 1956 (1956
का 1) (िजस े इसम(cid:7286) अिधिनयम कहा गया ह)ै कंपनी अिधिनयम, 2013 (2013 का 18) या कंपनी ((cid:7008)यायालय)
िनयम, 1959 या संिहता म(cid:7286) प(cid:7407)रभािषत (cid:7408)कए गए ह,(cid:7289) के वही अथ(cid:6981) ह(cid:7298)ग े जो, उनके, यथाि(cid:7021)थित, सबं ंिधत अिधिनयम,
या िनयम(cid:7298) या संिहता, म(cid:7286) ह।ै
(3) इन िनयम(cid:7298) के (cid:7079)वत(cid:6981)न क(cid:7409) तारीख को अिधिनयम के अधीन सभी कायव(cid:6981) ािहयां, िजसके अ(cid:7008)तगत(cid:6981) समापन सबं धं ी
काय(cid:6981)वािहय(cid:7298) स े िभ(cid:7382) मा(cid:7007)य(cid:7021)थम, समझौता ठहराव और पुनःसि(cid:7382)मा(cid:6981)ण संबंधी काय(cid:6981)वािहयां भी ह (cid:7289) (cid:7059)मशः (cid:6979)े(cid:7074)ीय
अिधका(cid:7407)रता का (cid:7079)योग करन े वाली अिधकरण क(cid:7409) (cid:7008)यायपीठ(cid:7298) को अ(cid:7008)त(cid:7407)रत हो जाएगी ।
5644 GI/2016 (1)
(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
3. समापन स े िभ(cid:7382) लि(cid:7013)बत मामल(cid:7298) क(cid:7409) कायव(cid:6981) ािहय(cid:7298) का अतं रण.—अिधिनयम के अंतगत(cid:6981) समापन को छोड़कर
अ(cid:7008)य जो कायव(cid:6981) ािहयां इन िनयम(cid:7298) के (cid:7079)वृ(cid:7275) होन े क(cid:7409) तारीख को (cid:7408)कसी उ(cid:7340) (cid:7008)यायालय के सम(cid:6979) लंिबत थ(cid:7277), संबंिधत
(cid:6979)े(cid:7074)ीय अिधका(cid:7407)रता का (cid:7079)योग करने वाली अिधकरण(cid:7298) क(cid:7409) (cid:7008)यायपीठ(cid:7298) को अंत(cid:7407)रत हो जाएंगी :
पर(cid:7008)तु (cid:7408)क वे सभी कायव(cid:6981) ािहय(cid:7298) जो अनुमित के आदशे या अ(cid:7008)यथा सुरि(cid:6979)त रखी गई ह ै ऐसी काय(cid:6981)वािहय(cid:7298)
अंत(cid:7407)रत नह(cid:7277) क(cid:7409) जाएगी।
4. (cid:7021)विै (cid:6994)छक समापन स े सबं िं धत लि(cid:7013)बत कायव(cid:6981) ाही.—(cid:7021)वैि(cid:6994)छक समापन से सबं ंिधत सभी आवेदन और
यािचकाएं जो उ(cid:7340) (cid:7008)यायालय म(cid:7286) इन िनयम(cid:7298) के शु(cid:7272) होने क(cid:7409) तारीख को लि(cid:7013)बत थी व े जारी रहगे ी और उनका उ(cid:7340)
(cid:7008)यायालय (cid:7367)ारा अिधिनयम के (cid:7079)ावधान(cid:7298) (cid:7367)ारा िनबटान (cid:7408)कया जाएगा।
5. समापन क(cid:7409) लि(cid:7013)बत कायव(cid:6981) ािहय(cid:7298) का ऋण अदा करन े म (cid:7286) अयो(cid:6991)यता के आधार पर अतं रण.—(1) समापन से
सबं ंिधत सभी यािचकाए ं जो अिधिनयम क(cid:7409) धारा 433 के खंड (ङ) के अ(cid:7008)तग(cid:6981)त उसके ऋण चुकान े क(cid:7409) अयो(cid:6991)यता के
आधार पर जो उ(cid:7340) (cid:7008)यायालय म(cid:7286) लि(cid:7013)बत ह ै और कंपनी ((cid:7008)यायालय) िनयम 1959 के िनयम 26 के अ(cid:7008)तग(cid:6981)त यथा
अपेि(cid:6979)त यािचका को (cid:7079)ितवादी को तामील नह(cid:7277) (cid:7408)कया गया ह ै वह अिधिनयम क(cid:7409) धारा 419 क(cid:7409) उप धारा (4) के
अ(cid:7008)तग(cid:6981)त (cid:7021)थािपत अिधकरण क(cid:7409) पीठ को अंत(cid:7407)रत हो जाएगी जो (cid:7079)ादिे शक (cid:6979)े(cid:7074)ािधकार का (cid:7079)योग कर रहा ह ै और
ऐसी यािचका(cid:7312) को संिहता के धारा 7, 8 और 9 के अ(cid:7008)तग(cid:6981)त जैसा भी मामला हो, आवेदन माना जाएगा और
संिहता के भाग II के अनुसार इनका िनपटान (cid:7408)कया जाएगा :
पर(cid:7008)तु याची सभी सूचनाए ं िनयम 7 के अनुसार अंत(cid:7407)रत अिभलेख का जो भाग बनता ह ै (cid:7408)क सूचना(cid:7312) स े
िभ(cid:7382), (cid:7079)(cid:7021)तुत करेगा जो संिहता क(cid:7409) धारा 7, 8 या 9 के अ(cid:7008)तग(cid:6981)त यािचका को (cid:7021)वीकार करने के िलए आव(cid:7019)यक ह,ै
जैसा भी मामला, िजसम(cid:7286) (cid:7079)(cid:7021)तािवत (cid:7408)दवाला (cid:7390)ावसाियय(cid:7298) के िववरण शािमल ह (cid:7289) अिधकरण को इस अिधसूचना के
60 (cid:7408)दवस के भीतर दने े ह(cid:7298)गे, ऐसा न होने पर यािचका र(cid:7374) हो जाएगा।
(2) सभी मामले, जहां बोड(cid:6981) (cid:7367)ारा औ(cid:7378)ोिगक और िव(cid:7275)ीय पुन(cid:7414)नमा(cid:6981)ण और कंपनी के समापन हते ु राय उ(cid:7340)
(cid:7008)यायलय को अ(cid:7061)ेिषत क(cid:7409) गई ह ै और जहां कोई अपील लंिबत नह(cid:7277) ह,ै समापन क(cid:7409) काय(cid:6981)वािहय(cid:7298) जो (cid:7272)(cid:6991)ण औ(cid:7378)ोिगक
कंपनी (िवशेष (cid:7079)ावधान) अिधिनयम, 1985 क(cid:7409) धारा 20 के अनुसरण म(cid:7286) शु(cid:7272) क(cid:7409) गई ह ै वह ऐसे उ(cid:7340) (cid:7008)यायालय
(cid:7367)ारा अिधिनयम के (cid:7079)ावधान(cid:7298) के अ(cid:7008)तग(cid:6981)त िनपटान (cid:7408)कया जाएगा।
6. ऋण चकु ान े क(cid:7409) अयो(cid:6991)यता स े िभ(cid:7382) आधार पर समापन मामल(cid:7298) क(cid:7409) लि(cid:7013)बत कायव(cid:6981) ािहय(cid:7298) का अतं रण.—
कंपनी अिधिनयम, 1956 क(cid:7409) थारा 433 क(cid:7409) उप धारा (क) और (च) के अ(cid:7008)तग(cid:6981)त दायर सभी यािचकाएं, जो उ(cid:7340)
(cid:7008)यायालय के स(cid:7013)मुख लि(cid:7013)बत ह ै और जहां यािचका को कंपनी ((cid:7008)यायालय) िनयम 1959 के िनयम 26 के अ(cid:7008)तगत(cid:6981)
यथा अपेि(cid:6979)त (cid:7079)ितवादी को तामील नह(cid:7277) (cid:7408)कया गया ह,ै ऐसे अिधकरण क(cid:7409) पीठ को अंत(cid:7407)रत क(cid:7409) जाएगं ी, जो ऐस े
(cid:7079)ादिे शक (cid:6979)े(cid:7074)ािधकार का (cid:7079)योग कर रहा ह ै और ऐसी यािचका(cid:7312) को कंपनी अिधिनयम, 2013 (2013 का 18) के
अ(cid:7008)तग(cid:6981)त यािचका माना जाएगा।
7. अिभलखे का अतं रण.—इन िनयम(cid:7298) के अनुसार मामल(cid:7298) के अंतरण के अनुसरण म(cid:7286) संगत अिभलेख(cid:7298) को
सबं ंिधत उ(cid:7340) (cid:7008)यायलय(cid:7298) (cid:7367)ारा रा(cid:7398)ीय कंपनी िविध अिधकरण क(cid:7409) पीठ(cid:7298) को ऐसे मामल(cid:7298) के अंतरण पर (cid:6979)े(cid:7074)ािधकार के
अ(cid:7008)तग(cid:6981)त अंत(cid:7407)रत (cid:7408)कए जाएगं ।े
8. फ(cid:7409)स सदं (cid:7275) नह(cid:7277) क(cid:7409) जाएगी.—रा(cid:7398)ीय कंपनी िविध अिधकरण िनयम, 2016 म(cid:7286) (cid:7408)कसी बात के अंत(cid:7414)व(cid:7397) होत े
(cid:7263)ए भी, इन िनयम(cid:7298) के अनुसार अंत(cid:7407)रत (cid:7408)कसी भी कायव(cid:6981) ाही के संबंध म(cid:7286) कोई फ(cid:7409)स संदये नह(cid:7277) होगी।
[फा. सं. 1/5/16-सीएल-V]
अमरदीप (cid:7410)सह भा(cid:7407)टया, संयु(cid:7334) सिचव¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 7th December, 2016
G.S.R. 1119(E).— In exercise of the powers conferred under sub-sections (1) and (2) of section 434 of the
Companies Act, 2013 (18 of 2013) read with sub-section (1) of section 239 of the Insolvency and Bankruptcy Code,
2016 (31 of 2016) (hereinafter referred to as the Code), the Central Government hereby makes the following rules,
namely:—
1.(cid:32) Short title and Commencement. - (1) These rules may be called the Companies (Transfer of Pending
Proceedings) Rules, 2016.
(2) They shall come into force with effect from the 15th December, 2016, except rule 4, which shall come into
force from 1st April, 2017.
2.(cid:32) Definitions.- (1) In these rules, unless the context otherwise requires-
(a)(cid:32) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016);`
(b)(cid:32) “Tribunal” means the National Company Law Tribunal constituted under section 408 of the Companies Act,
2013.
(2) Words and expressions used in these rules and not defined, but defined in the Companies Act, 1956 (1 of 1956)
(herein referred to as the Act), the Companies Act, 2013 (18 of 2013) or the Companies (Court) Rules, 1959 or the Code
shall have the meanings respectively assigned to them in the respective Act or rules or the Code, as the case may be.
3.(cid:32) Transfer of pending proceedings relating to cases other than Winding up.—All proceedings under the Act,
including proceedings relating to arbitration, compromise, arrangements and reconstruction, other than proceedings
relating to winding up on the date of coming into force of these rules shall stand transferred to the Benches of the
Tribunal exercising respective territorial jurisdiction:
Provided that all those proceedings which are reserved for orders for allowing or otherwise of such proceedings
shall not be transferred.
4.(cid:32) Pending proceeding relating to Voluntary Winding up: All applications and petitions relating to voluntary
winding up of companies pending before a High Court on the date of commencement of this rule, shall continue with and
dealt with by the High Court in accordance with provisions of the Act.
5.(cid:32) Transfer of pending proceedings of Winding up on the ground of inability to pay debts.—(1) All petitions
relating to winding up under clause (e) of section 433 of the Act on the ground of inability to pay its debts pending before
a High Court, and where the petition has not been served on the respondent as required under rule 26 of the Companies
(Court) Rules, 1959 shall be transferred to the Bench of the Tribunal established under sub-section (4) of section 419 of
the Act, exercising territorial jurisdiction and such petitions shall be treated as applications under sections 7, 8 or 9 of the
Code, as the case may be, and dealt with in accordance with Part II of the Code:
Provided that the petitioner shall submit all information, other than information forming part of the records
transferred in accordance with Rule 7, required for admission of the petition under sections 7, 8 or 9 of the Code, as the
case may be, including details of the proposed insolvency professional to the Tribunal within sixty days from date of this
notification, failing which the petition shall abate.
(2) All cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction, for winding
up of a company to a High Court and where no appeal is pending, the proceedings for winding up initiated under the Act,
pursuant to section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 shall continue to be dealt with by
such High Court in accordance with the provisions of the Act.
6.(cid:32) Transfer of pending proceedings of Winding up matters on the grounds other than inability to pay
debts.—All petitions filed under clauses (a) and (f) of section 433 of the Companies Act, 1956 pending before a High
Court and where the petition has not been served on the respondent as required under rule 26 of the Companies (Court)
Rules, 1959 shall be transferred to the Bench of the Tribunal exercising territorial jurisdiction and such petitions shall be
treated as petitions under the provisions of the Companies Act, 2013 (18 of 2013).4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
7.(cid:32) Transfer of Records.—Pursuant to the transfer of cases as per these rules the relevant records shall also be
transferred by the respective High Courts to the National Company Law Tribunal Benches having jurisdiction forthwith
over the cases so transferred.
8.(cid:32) Fees not to be paid.—Notwithstanding anything contained in the National Company Law Tribunal Rules,
2016, no fee shall be payable in respect of any proceedings transferred to the Tribunal in accordance with these rules.
[F. No. 1/5/2016– CL-V]
AMARDEEP SINGH BHATIA, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.