On December 7, 2016, a notification was issued by the Central Government, through the Corporate Ministry, it stated- All petitions relating to winding up under clause (e) of Section 433 pending before High Courts, and which have not been served on the Respondent as required by Rule 26 of the Companies (Court) Rules, 1959, stand transferred to the appropriate Bench of the National Company Law Tribunal (“NCLT”) exercising territorial jurisdiction over the mater. In light of the above notification, Neelkamal Realtors contended before the High Court that the winding up petitions filed against it, ought to be transferred to the National Company Law Tribunal. Whereas the petitioners argued that since the petition has been served to the respondents under Rule 26, the transfer notification did not apply to them and the Bombay High Court retains its jurisdiction over them. Since the issue pertains to a particular notification that may potentially decide the fate of many petitions filed before t...