# In the matter of Indian Oil Corporation Limited Vs. Union of India & Ors., W.P.(C) 13775/2019

> HC judgment dated 2019-12-23. Citation: TCN-2019-HC-00001. Indian Oil Corporation Limited filed a writ petition against the Union of India and others,…

- **Court:** HC
- **Order date:** 23 Dec 2019
- **Citation:** TCN-2019-HC-00001
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-chandigarh-bench/indian-oil-corporation-limited-vs-union-of-india-ors-wp-71d81cd6

## Summary

### Background

Indian Oil Corporation Limited filed a writ petition against the Union of India and others, challenging an order passed by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi. The petitioner was aggrieved by the NCLT's order dated December 13, 2019, which granted a stay against the encashment of a bank guarantee in a matter involving ICICI Bank and Punj Lloyd Ltd. The petitioner argued that the NCLT had jurisdictional errors.

## Facts

Indian Oil Corporation Limited (IOCL) filed a writ petition challenging an order by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi, dated December 13, 2019. The NCLT order, CA-2823 (PB)/ 2019 in Petition No. (IB) -731 (PB)/ 2018, titled “ICICI Bank v. Punj Lloyd Ltd.,” granted a stay against the encashment of a bank guarantee. IOCL argued that the NCLT's order was based on jurisdictional errors. The High Court noted that the NCLT's order is appealable under Section 61 of the Insolvency and Bankruptcy Code, 2016. The court also observed that the NCLT has the power, jurisdiction, and authority to decide the case in question.

## Issues and analysis

### Issue 1: Whether the High Court should entertain the writ petition when an efficacious alternative remedy of …

**Ratio:** The principle that a High Court should not exercise its writ jurisdiction under Article

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**Reasoning:** The court reasoned that Section 61 of the Code provides a statutory appeal against the

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**Interpretation:** The court interpreted the availability of a statutory appeal as a bar to the

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**Application:** The court applied this principle to the facts of the case, noting that the

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## Parties

- **Judges:** D.N. P…; C.HARI SH…
- **Appellants:** Indian Oil…
- **Respondents:** Punj Lloy…; Union of…

## Timeline

- **2018-01-01 — Petition…**: Petition No. (IB) -731 (PB)/ 2018 titled “ICICI Bank v. Punj Lloyd Ltd.” was filed before…
- **2019-12-13 — NCLT Ord…**: The National Company Law Tribunal (NCLT), Principal Bench, New Delhi, passed an order in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60 — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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