M/S Embassy Property Developments Pvt. ... vs The State Of Karnataka

The Supreme Court addressed two key issues regarding the jurisdiction of the High Court under Article 226/227 concerning orders from the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC). The Court held that the High Court should refrain from interfering when a statutory remedy of appeal is available to the National Company Law Appellate Tribunal (NCLAT), except in exceptional circumstances. Additionally, the Court clarified that questions of fraud can be examined by the NCLT/NCLAT during proceedings under the IBC, thereby affirming the tribunal's authority to investigate such matters.