The Ministry of Corporate Affairs vide notification No. G.S.R. 1119(E) dated December 07, 2016 has notified, Companies (Transfer of Pending Proceedings) Rules, 2016 (hereinafter referred to as 'Rules') to provide for transfer of matters pending before Company Law Board to National Company Law Tribunal (hereinafter referred to as 'NCLT'). The Rules bifurcate the pending proceedings as follows:
- Proceedings relating to cases other than winding up, such as arbitration, compromise, arrangement and reconstruction, etc.;
- Cases relating to winding up;
A brief summary of these Rules are provided below
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