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2021 (8) TMI 1286 - HC - Companies LawJurisdiction - authority of the NCLT to continue with the avoidance application despite the resolution plan already being in place - HELD THAT:- The legal issue is, indeed, of some substance and whether it is ₹ 15/- or ₹ 150 crore involved, it makes little difference. It is the importance of the legal issue that may have impelled this Court to receive the petition and, to be fair to the petitioner, the petitioner has been substantially heard. However, since the matter pertains to the Insolvency and Bankruptcy Code, which, as its name suggests, is a code unto itself, and specialised fora are created thereby or, at any rate to entertain proceedings thereunder, it may be better to allow the NCLT to answer the legal issue before the view expressed is tested elsewhere. Petition is disposed of by requesting the NCLT, Chennai, to dispose of the avoidance application together with the other applications that may have been filed in connection therewith as expeditiously as the business of that forum may permit, and, preferably, within eight weeks of the receipt of a copy of this order.
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