The Rajasthan High Court, Jaipur Bench, in Modern Insulators Ltd. v. —, considered an application seeking appropriate directions in respect of a company petition that was pending before the High Court under the provisions of the Companies Act, 1956. The issue arose in the context of the statutory transition of jurisdiction from the High Courts to the National Company Law Tribunal pursuant to the enactment of the Companies Act, 2013.

The Court took note of the notification dated 07 December 2016 issued by the Central Government through the Ministry of Corporate Affairs in exercise of powers conferred under sub-sections (1) and (2) of Section 434 of the Companies Act, 2013, along with other enabling provisions. The said notification mandated the transfer of specified categories of pending company matters from the High Courts to the National Company Law Tribunal.

In view of the statutory framework and the aforesaid notification, the High Court held that it no longer retained jurisdiction to continue with the pending company petition. The Court accordingly directed that S.B. Company Application No. 1 of 2017, along with the underlying S.B. Company Petition No. 30 of 2012, be transferred to the jurisdictional National Company Law Tribunal for further proceedings in accordance with law.

The order reflects the legislative intent underlying Section 434 of the Companies Act, 2013, to consolidate and streamline corporate adjudication before the specialised forum of the NCLT and to ensure uniformity in the resolution of company law matters.


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