The Kerala High Court held that an order passed by the National Company Law Tribunal (NCLT) rejecting a resolution plan is appealable under Section 61 ofthe Insolvency and Bankruptcy Code, 2016 (IBC), and that the availability of such a statutory remedy bars the invocation of writ jurisdiction.
The dispute arose when MMS Steel & Power Private Limited, a member of the Committee of Creditors holding 80.11% voting share, and K. Sunil Kumar, a personal guarantor to the corporate debtor, challenged an order passed by the Kochi Bench NCLT, during the Corporate Insolvency Resolution Process (CIRP) of Kasargod Power Corporation Limited.
Your Smartest Guide to the 2025 Income Tax Act — With Old Act Parallels. Click here
The NCLT…