Writ Petition Not Maintainable When IBC Appellate Remedy Exists: Madras HC

Adv.(CA)V.Venkata Sivakumar Vs National Company Law Appellate Tribunal (NCLAT) (Madras High Court) The Madras High Court dismissed a writ petition seeking a direction to the National Company Law Appellate Tribunal (NCLAT) to adjudicate allegations of fraud, collusion, undervaluation, and suppression relating to a scheme of compromise in a company amalgamation application. The petitioner argued that irregularities had occurred in connection with the amalgamation proceedings and that certain parties had acted in violation of the objectives of the Insolvency and Bankruptcy Code, 2016. The Court o...