Writ Petition Against Liquidator’s Order Dismissed as order was appealable under IBC

T. Sivasankar Vs Managing Director (Madras High Court) Conclusion: Assessee challenge against order passed by Liquidator through writ petition was not to be entertained as the order was appealable under the Insolvency and Bankruptcy Code, 2016. Assessee by bypassing the statutory mechanism, had misused the process of law as IBC, 2016 was a codified and time-bound legislation enacted to ensure the expeditious resolution or liquidation of corporate debtors, with specific timelines prescribed at each stage. Held: Assesssee filed the writ petition challenging the communication issued by the second...