TMI Blog2023 (4) TMI 667X X X X Extracts X X X X X X X X Extracts X X X X ..... terfering with the resolution process. Moreover, having resorted to the alternative remedy, the petitioner cannot collaterally challenge the same order through a writ petition. In any case, the dispute as to the authority of the Liquidator to enforce the order of NCLT has lost its relevance as per Ext.R2(e), the NCLT itself has passed the order freezing the petitioner's account. The writ petition is hence dismissed, without prejudice to the petitioner's right to pursue his remedy before the NCLT or NCLAT, as the case may be. - WP (C) NO. 6390 OF 2022 - - - Dated:- 9-3-2023 - THE HONOURABLE MR.JUSTICE V. G. ARUN THURSDAY, THE 9TH DAY OF MARCH 2023 FOR THE PETITIONER : ANIL D. NAIR TELMA RAJU EDATHARA VINEETA KRISHNAN ARA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor/Director and to submit a report. Aggrieved by Ext.P1 order, the petitioner preferred Ext.P2 appeal and Ext.P3 stay petition before the National Company Law Appellate Tribunal ('NCLAT' for short). While so, finding that the direction in Ext.P1, to take immediate steps to recover the amount from the petitioner and submit report was not complied by the Liquidator, the NCLT passed a further order on 17.01.2022 directing the Liquidator to initiate appropriate legal proceedings for recovery of the amount. This was followed by another order dated 24.01.2022 requiring the Liquidator to file a report with regard to the legal proceedings initiated. Thereupon, the Liquidator issued a mail to the State Bank of India, where the petitioner is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preliminary objection as to the maintainability of the writ petition in view of efficacious alternative remedy of appeal before the NCLAT, against the proceedings and orders of the NCLT. It is pointed out that the petitioner has resorted to such remedy by filing Ext.P2 appeal. Even though petitioner filed Ext.P3 stay application in the appeal, interim order was not granted by the NCLAT, as evident from Ext. R2(c) proceedings dated 17.03.2022. It is contended that, on merits also the writ petition is not maintainable in view of Ext. R2(e) proceedings of the NCLT, wherein taking note of the petitioner's failure to comply with Exts. P1 and P2 orders, the NCLT directed the Banks, including the first respondent, State Bank of India, to free ..... X X X X Extracts X X X X X X X X Extracts X X X X
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