JUDGMENT : S.Sujatha, J. This company application is filed by the applicant/petitioner seeking transfer of the Company Petition No.125/2014 to the Hon’ble National Company Law Tribunal, Bengaluru ['NCLT' for short] in terms of the proviso inserted to Section 434[1][c] of the Companies Act, 2013 ['Act 2013' for short]. 2. Company Petition No.125/2014 has been filed by the applicant against the respondent company Opto Infrastructure Limited under the provisions of Section 433[e] of the Companies Act, 1956 ['Act 1956' for short] which is currently pending before this Court for hearing admission of the petition. 3. The applicant has chosen and elected to pursue the remedies available under the Insolvency and Bankruptcy Code, 2016 ['Code' for short] and has filed this application. 4. Learned counsel for the respondent company submits that the applicant has already filed C.P.No.236/2018 before the NCLT invoking the provisions of the Code. Hence, transfer of the present petition would not arise at this stage. 5. Heard the learned counsel for the respective parties and perused the material on record. 6. Section 434 of the Act, 2013 deals with transfer of certain pending proceedings. Clause [c] of Sub-section [1] of Section 434 and the proviso enforceable with effect from 15.12.2016 reads thus: "[c] all proceedings under the Companies Act, 1956, including reconstruction and winding up of companies, pending immediately before such date before any District Court or High Court, shall stand transferred to the Tribunal and the Tribunal may proceed to deal with such proceedings from the state before their transfer: PROVIDED that only such proceedings relating to the winding up of companies shall be transferred to the Tribunal that are at a stage as may be prescribed by the Central Government." 7. In pursuant to the said provision, Ministry of Corporate Affairs, Central Government has issued a notification dated 07.12.2016, framing the Companies [Transfer of Pending Proceedings] Rules, 2016. Rule 5 of the said Rules, 2016 contemplates that: "5. Transfer of pending proceedings of Winding up on the ground of Inability to pay debts. In pursuant to the said provision, Ministry of Corporate Affairs, Central Government has issued a notification dated 07.12.2016, framing the Companies [Transfer of Pending Proceedings] Rules, 2016. Rule 5 of the said Rules, 2016 contemplates that: "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 the 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." 8. Second proviso to Section 434 [1] [c] inserted by the Code [Second Amendment Act, 2018] with retrospective effect from 06.06.2018 reads thus: "PROVIDED FURTHER that any party or parties to any proceedings relating to the winding up of companies pending before any Court immediately before the commencement of the Insolvency and Bankruptcy Code [Amendment] Ordinance, 2018, may file an application for transfer of such proceedings and the Court may by order transfer such proceedings to the Tribunal and the proceedings so transferred shall be dealt with by the Tribunal as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 [31 of 2016:] 9. A reading of these provisions makes it clear that the proceedings under the Act, 1956 pending before this Court are to be transferred to the Hon'ble NCLT under Section 434 [1][c] of the Act by: [1] Statutory operation of law, as per the first proviso; [2] On application filed by any party or parties to the proceedings, as per the second proviso. The present case falls under the second clause aforementioned. 10. At this juncture, learned Senior Counsel Sri.K.Arun Kumar representing the learned counsel for the petitioner on instructions would submit that the C.P.No.236/2018 pending before the NCLT filed by the applicant under Section 7 of the Code shall be withdrawn by the petitioner by filing necessary memo/application and accordingly this Court may consider the application filed by the petitioner for transfer of this petition to NCLT in terms of Section 434[1][c] and the proviso thereof of the Act, 2013. 11. The submissions of the learned Senior Counsel is placed on record. 12. In view of the application filed by the petitioner under Section 434 [1][c] of the Companies Act read with proviso thereof, there is no inhibition for this Court to transfer the pending Company Petition to NCLT to enable the applicant/petitioner to pursue its remedies under the provisions of the Code, accepting the reasons set out for such transfer. It is to achieve the objects of the new Rules, 2016 as regards to provide an opportunity of arrangements and reconstruction/rehabilitation and other proceedings relating to the winding up to be adjudicated by the NCLT under the provisions of the Code, this Court deems it appropriate to transfer the pending Company Petition No.125/2014 to the NCLT. It is to achieve the objects of the new Rules, 2016 as regards to provide an opportunity of arrangements and reconstruction/rehabilitation and other proceedings relating to the winding up to be adjudicated by the NCLT under the provisions of the Code, this Court deems it appropriate to transfer the pending Company Petition No.125/2014 to the NCLT. Hence, C.A.No.48/2019 stands disposed of transferring the Company Petition No.125/2014 to NCLT to proceed in accordance with law. The respondent shall appear before the NCLT on 10.07.2019 without expecting any notice. The NCLT shall proceed thereafter in accordance with law.