NCLT Remedy Prevails

The Karnataka High Court declined to entertain a writ petition seeking to quash insolvency proceedings initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), holding that where proceedings are already pending before the National Company Law Tribunal (NCLT), the aggrieved party must pursue its remedies before the statutory forum. The Court reiterated that writ jurisdiction cannot ordinarily be invoked to bypass an effective alternative remedy.