Suo Moto transfer of Winding up Process valid

The Calcutta High Court has upheld the transfer of a pending winding-up proceeding from the Company Court to the National Company Law Tribunal (NCLT), holding that such transfer can be directed by the Company Court even in the absence of a formal application by any party. 

The Court clarified that the decisive consideration is whether the winding-up proceedings have reached an irreversible stage and not whether a transfer application has been filed.