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HC dismisses writ petition as petitioner had alternate remedy of filing appeal before NCLAT

February 6, 2020[2020] 114 taxmann.com 113 (Bombay)
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IBC : Where petitioner had participated in Corporate Insolvency Resolution Process of respondent No. 1 but respondent no. 1 accepted bid of respondent no. 2 and petitioner filed Miscellaneous Application before NCLT challenging adoption of bid of respondent no. 2, however, NCLT by impugned order sanctioned resolution plan and rejected petitioner's application, it was held that writ petition filed by petitioner challenging said order was not maintainable as petitioner had alternate and equally efficacious remedy of filing on appeal to National Company Law Appellate Tribunal

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