Interim Relief Denied Due to Complex Issues; Court Emphasizes Cause of Action Timing and Procedural Irregularities.

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Full Text of the Document

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....The High Court declined to grant interim relief, emphasizing that the amended writ petition raised numerous complex grounds which cannot be adjudicated fully at the interim stage. The Court clarified that a detailed examination of substantive grounds on merits would not be undertaken, and the assessment of contentions, particularly regarding merits, must necessarily be prima facie at this interim stage. Regarding the time limitation under Regulation 3(4) of the IBBI Regulations, the Court held that while the Regulation stipulates a strict time limit for filing a complaint, the critical issue is determining when the cause of action arose. In the present case, the allegations against the Petitioner in the Show Cause Notice dated 2nd April 202.........