2022 (7) TMI 1245

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....he investigation of the case registered against the Corporate Debtor and its Director. 2. In IA/773(AHM)2021 following prayers are made: (a) Quash/Set aside the impugned letter reference No. ECIR/MBZO/10/2016/735 and similar other letters all dated 24.04.2017 issued by the Respondent No. 1 to the debtors of the Corporate Debtor including Respondents No. 2 to 5; (b) Issue appropriate directions to Respondent No. 2 to 5 to pay/clear the admitted outstanding amount/debt to the Corporate Debtor in a time bound manner; 3. In IA No. 453 of 2019 following prayers are made: (i) Withdraw the provisional attachment order with immediate effect for the sake of continuing the liquidation process which shall benefit the c....

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....n 60 with Section 179, it is clear that none of them hold the key to the question as to whether NCLT would have jurisdiction over a decision taken by the government under the provisions of MMDR Act, 1957 and the Rules issued thereunder. The only provision which can probably throw light on this question would be sub-section (5) of Section 60, as it speaks about the jurisdiction of the NCLT. Clause (c) of sub--section (5) of Section 60 is very broad in its sweep, in that it speaks about any question of law or fact, arising out of or in relation to insolvency resolution. But a decision taken by the government or a statutory authority in relation to a matter which is in the realm of public law, cannot, by any stretch of imagination, be brought ....

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....the IBC, 2016 has been further explained by the Hon'ble Supreme Court in the case of Gujarat Urja Vikas Nigam Limited Vs. Amit Gupta and Others reported in (2021) 7 SCC 209 at para 173 in the following words: "....173. Although various provisions of the IBC indicate that the objective of the statute is to ensure that the corporate debtor remains a "going concern", there must be a specific textual hook for the NCLT to exercise its jurisdiction. NCLT cannot derive its powers from the "spirit" or "object" of the IBC. Section 60(5)(c) of the IBC vests the NCLT with wide powers since it can entertain and dispose of any question of fact or law arising out or in relation to the insolvency resolution process. We hasten to add, however,....