https://www.taxtmi.com/caselaws?id=795485 Article 227 supervisory jurisdiction cannot substitute the statutory appellate remedy under the Insolvency and Bankruptcy Code for challenges to NCLT orders in liquidation proceedings. The NCLT has jurisdiction over such claims, appeals lie to the NCLAT, and Rule 49 of the NCLT Rules provides for setting aside an ex parte hearing. Supervisory intervention is discretionary and limited to jurisdictional error, failure or excess of jurisdiction, abuse of power, or grave injustice. Where the affected party knew of the orders but did not use the prescribed remedy in time, no basis arises for Article 227 interference. en-us Tue, 14 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795485 Article 227 supervisory jurisdiction cannot substitute the statutory appellate remedy under the Insolvency and Bankruptcy Code for challenges to NCLT orders in liquidation proceedings. The NCLT has jurisdiction over such claims, appeals lie to the NCLAT, and Rule 49 of the NCLT Rules provides for setting aside an ex parte hearing. Supervisory intervention is discretionary and limited to jurisdictional error, failure or excess of jurisdiction, abuse of power, or grave injustice. Where the affected party knew of the orders but did not use the prescribed remedy in time, no basis arises for Article 227 interference. Case-Laws IBC Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795485