Companies (Transfer of Pending Proceedings) Rules, 2016.

1. 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. Definitions.- (1) In these rules, unless the context otherwise requires-

(a)   “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016);`

(b)  “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. 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. 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. 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. 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).

7. 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. 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.