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2020 (3) TMI 854 - HC - Insolvency and BankruptcyViolation of Principles of Natural Justice - an opportunity of hearing to the petitioner before passing the impugned order, not afforded - Section-5(8)(F) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- In the opinion of the Court, the petitioner has failed to make out any extra ordinary grounds to invoke Article-226 of the Constitution of India. As recorded in the preceding part of the order, the proceedings before the NCLT for proceeded in due course and the order-sheet also reflects the proceedings and the reasoned orders passed by the NCLT from time to time - The Court is therefore, of the view that though writ petition can be maintained, in view of the vast powers of the High Court under Article-226 of the Constitution of India. However, in the facts of this case, the Court is not inclined to exercise such powers in view of the existing statutory alternative efficacious remedy. The Court is of the view that any interference at this stage, even on the procedural aspect would bring ongoing proceedings under IBC to halt, which the Court is not inclined in view of time line that statute prescribes. In any case, where the petitioner has not challenged the ultimate order dated 07-02-2020, merely on procedural aspect, the Court is not inclined to quash and set aside the order dated 05-02-2020. Petition dismissed.
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