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2020 (9) TMI 1036 - HC - Insolvency and BankruptcyMaintainability of application - CIRP process - It is not the case of the Writ Petitioners that there is any lack of jurisdiction on the part of NCLT in entertaining the Company Petition and it has merely contended that NCLT erred in passing the impugned order - HELD THAT:- It is the contention of the petitioners herein that respondent Nos.4 and 5 had manipulated and falsified the accounts and misappropriated the funds apart from committing fraud. Therefore, these are the aspects which can certainly be considered by NCLAT, if appeals were preferred by the petitioners under Section 61 of the Code to it. In this view of the matter, we are not inclined to entertain the Writ Petition since the petitioners have an effective alternative remedy before the NCLAT under Section 61 of the Code - Granting liberty to the petitioner to avail the said remedy of appeal under Section 61 of the Code, this Writ Petition is dismissed - Petition dismissed.
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