'High Courts Do Not Substitute Statutory Tribunals', Calcutta High Court Refuses To Halt Guarantors' Insolvency Proceedings

The Calcutta High Court on Wednesday held that it cannot interfere with personal insolvency proceedings initiated under the Insolvency and Bankruptcy Code, holding that such proceedings must take their course before the National Company Law Tribunal. A single bench of Justice Krishna Rao said the High Court could not halt a proceeding that falls within the jurisdiction of the...