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HC refers petitioner’s case to NCLAT for remedy against order of NCLT

November 21, 2019[2019] 111 taxmann.com 370 (Delhi)
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IBC : Where petitioner, ex-director/promoter filed petition against admission of application under section 7 and appointment of Interim Resolution Professional (IRP) on ground that pursuant to petition under section 529A of Companies Act, 1956, matter was fully seized before company court and judgment had been reserved, and, therefore, NCLT ought not to have brought revival to a complete standstill by appointing an IRP and declaring a moratorium, it was held that jurisdiction of High court was not to be exercised under Article 227 as there was an alternate remedy available and therefore, petitioner was to be relegated to NCLAT and impugned order of NCLT was to be kept in abeyance

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