M/S EMBASSY PROPERTY DEVELOPMENTS PVT. LTD. vs THE STATE OF KARNATAKA

The Supreme Court addressed two key issues regarding the jurisdiction of the High Court under Article 226/227 in relation to orders passed by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. It held that the High Court should refrain from interfering when a statutory remedy of appeal is available, and that questions of fraud can indeed be examined by the NCLT/NCLAT in insolvency proceedings. The Court ultimately upheld the NCLT's authority and the statutory framework of the IBC, 2016, affirming the importance of adhering to established legal remedies.