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TMI Blog2020 (1) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... he NCLT, Principal Bench, New Delhi, but, an efficacious alternative remedy is available with the petitioner by way of statutory appeal under Section 61 of the Code, 2016 - thus, there is no reason to exercise our powers of judicial review vested under Article 226 of the Constitution of India, as there is nothing so special or extraordinary in this case. As an efficacious alternative remedy is available with the petitioner, we are not entertaining this writ petition and the same is disposed of without entering into the merits of the case. - W.P.(C) 13774/2019 & CM APPL. 55409/2019, 55410/2019 - - - Dated:- 23-12-2019 - CHIEF JUSTICE MR. C. HARI SHANKAR J. Petitioner Through: Mr. Abhinav Vasisht, Sr. Adv. with Mr. Amit M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appropriate writ/ directions declaring that Section 60(5) of the IBC, is null and void and ultra vires to the Constitution of India to the extent it does not empower the Ld. NCLT to pass any order in relation to the independent Bank Guarantees; E. A writ in the nature of Mandamus or any other appropriate writ/directions directing that the Respondent no. 2, i.e. Ld. NCLT should not exceed its jurisdiction and is bound to act within the four corners of the Insolvency and Bankruptcy Code, 2016; F. Appropriate Writs and/or orders and/or direction do issue as would afford complete relief to the Petitioner; G. Rule Nisi in terms of the prayers above; H. Such further or other order or orders be made and/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sdiction and authority to decide the case in question. 7. There can be an erroneous order of the NCLT, Principal Bench, New Delhi, but, an efficacious alternative remedy is available with the petitioner by way of statutory appeal under Section 61 of the Code, 2016. 8. Hence, we see no reason to exercise our powers of judicial review vested under Article 226 of the Constitution of India, as there is nothing so special or extraordinary in this case. 9. What is being argued before this Court can always be argued before the National Company Law Appellate Tribunal (NCLAT), which is also available at Delhi. 10. Hence, without entering into the merits of the case, as there is efficacious alternative remedy avail ..... X X X X Extracts X X X X X X X X Extracts X X X X
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