https://www.taxtmi.com/caselaws?id=424085 The High Court held that the Civil Revision Petition under Article 227 was not maintainable as the petitioner, a Corporate Debtor, failed to exhaust the alternative appellate remedy before the National Company Law Appellate Tribunal (NCLAT) as mandated by the Insolvency and Bankruptcy Code (IBC). Citing precedents, the Court emphasized the comprehensive nature of the IBC's three-tier mechanism and the restriction on High Courts' interference when statutory remedies are available. The Court dismissed the petition, underscoring the importance of following the prescribed appellate process under the IBC. en-us Fri, 22 Apr 2022 00:00:00 +0530 Fri, 24 Jun 2022 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424085 The High Court held that the Civil Revision Petition under Article 227 was not maintainable as the petitioner, a Corporate Debtor, failed to exhaust the alternative appellate remedy before the National Company Law Appellate Tribunal (NCLAT) as mandated by the Insolvency and Bankruptcy Code (IBC). Citing precedents, the Court emphasized the comprehensive nature of the IBC's three-tier mechanism and the restriction on High Courts' interference when statutory remedies are available. The Court dismissed the petition, underscoring the importance of following the prescribed appellate process under the IBC. Case-Laws Insolvency and Bankruptcy Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424085