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CS Professional · Drafting, Pleadings and Appearances · Applications, Petitions and Appeals under Companies Act, 2013

A High Court passed a winding-up order against Kaveri Textiles Ltd in 2012, before the Companies Act, 2013 came into force. The company now wishes to challenge that order. Under Section 303, how is the pending right of appeal against that order to be treated?

The appeal goes to the authority that was competent to hear such appeals before the 2013 Act commenced. Section 303 preserves the old appellate forum for winding-up orders made by a Court immediately before commencement, so the new NCLAT does not take over those appeals.

  1. AThe appeal must be filed before the authority that was competent to hear such appeals before the Act commencedCorrect
  2. BThe appeal must now be filed before the National Company Law Appellate Tribunal
  3. CThe appeal lapses because the winding-up order is not covered by the new Act
  4. DThe appeal must be filed before the Central Government

Explanation

Section 303 says an appeal against a winding-up order made by a Court immediately before commencement is to be filed before the authority competent to hear such appeals before commencement. The NCLAT option is wrong because the section preserves the old forum rather than moving it to the new Tribunal.

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