Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
HC dismissed the writ petition as non-maintainable due to availability of alternative statutory remedy under the Insolvency and Bankruptcy Code, 2016. The petitioners failed to utilize the specific mechanism under Section 42 for appealing the Liquidator's order within the prescribed 14-day limitation period. The Court emphasized that IBC is a comprehensive legislative framework with a structured three-tier remedial mechanism, and bypassing this statutory process constitutes misuse of legal proceedings. The petition was rejected, reinforcing the principle of exhausting statutory remedies before invoking extraordinary writ jurisdiction.
HC dismissed the writ petition as non-maintainable due to availability of alternative statutory remedy under the Insolvency and Bankruptcy Code, 2016. The petitioners failed to utilize the specific mechanism under Section 42 for appealing the Liquidator's order within the prescribed 14-day limitation period. The Court emphasized that IBC is a comprehensive legislative framework with a structured three-tier remedial mechanism, and bypassing this statutory process constitutes misuse of legal proceedings. The petition was rejected, reinforcing the principle of exhausting statutory remedies before invoking extraordinary writ jurisdiction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
