Gujarat High Court Rejects Writ Plea Against Corporate Insolvency Process Due to Pending Appeal
The Gujarat High Court rejected a writ petition contesting a corporate insolvency resolution order amounting to seven crore forty lakh rupees. The court ruled that exercising writ jurisdiction is barred when identical arguments are already pending before the appellate tribunal without any extraordinary circumstances.
Effective Not specified in the update
For professionals: The Gujarat High Court ruled that invoking extraordinary writ jurisdiction is barred when a petitioner has already approached the National Company Law Appellate Tribunal on identical grounds without showing exceptional circumstances. · Legal professionals must exhaust statutory appellate remedies within the designated tribunal framework rather than seeking parallel relief or engaging in forum shopping during Corporate Insolvency Resolution Process matters. · The ruling applies to a Corporate Insolvency Resolution Process admission order involving an amount of seven crore forty lakh rupees.
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