Petition Dismissed: Alternative Remedy Available under Insolvency Code

The High Court dismissed the petition seeking reliefs against an order of the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, citing the availability of an alternative remedy of appeal before the National Company Law Appellate Tribunal. The petitioner was granted liberty to challenge the impugned order before the Appellate Tribunal, maintaining the right to seek redressal through the appropriate legal channel.

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Issues:
1. Whether the High Court should entertain a petition seeking reliefs against an order passed by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 when an alternative remedy of appeal is available before the National Company Law Appellate Tribunal.

Analysis:
The petitioner sought various reliefs through the petition, including a writ of Certiorari or Nesarikar to quash and set aside the impugned judgment of the Tribunal, a writ of Mandamus directing the revival of a company, and a stay on the operation of the Tribunal's judgment. The respondent raised a preliminary objection, contending that the petitioner had an alternative and efficacious remedy of appeal before the National Company Law Appellate Tribunal and, therefore, the High Court should not entertain the petition.

The High Court considered the objection and noted that the petitioner indeed had an alternative and efficacious remedy of appeal available. In light of this, the High Court decided not to interfere in the matter under Article 226 of the Constitution of India. Consequently, the petition was dismissed, but the petitioner was granted liberty to challenge the impugned order before the Appellate Tribunal.

In conclusion, the High Court declined to entertain the petition seeking reliefs against the order passed by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 due to the availability of an alternative remedy of appeal before the National Company Law Appellate Tribunal. The dismissal of the petition was accompanied by granting the petitioner the liberty to pursue the challenge before the Appellate Tribunal, ensuring the petitioner's right to seek redressal through the appropriate legal channel.

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