Winding up petition before nclt

Hi Minsal

There was a notification passed vide which appropriate steps were required to be taken in the case of transfered winding up proceedings from High court. The date given was 15 July, 2017 by which appropriate forms were required to be submitted, failing wehich the Petition gets abeted. In your case without approval of court you would not be allowed to file Form 5. Apart from your restoration application, you will also have to prepare condonation of delay application for submitting Form 5 stating reasons for delay. However you need to understand that ther is no express provision in IBC for restoration or condonation of delay. On 15 Sep 2017 at the time of hearing while arguments you will have to make submissions to that effect explaining the reasons of delay and requesting for restoration of your Pettion. Alternatively you can get your Pettion restored and withdraw it with a liberty to file it afresh. In case you need any help please feel free to contact me. I appear and represnt clients regularly before Mumbai NCLT in IBC, Oppresion and Mismanagement matters & Scheme matters. 

Regards 

Adv. Vinit J. Mehta

vinitmehta_1987@yahoo.com , vinitmehta1987@gmail.com 

9892530442