High Court has no territorial jurisdiction to entertain prayers with respect to debt assignment deed which is a subject matter of proceedings before NCLT/NCLAT | Jurisdiction vested in NCLT while dealing with a resolution plan is of wide ambit and any question of law or fact in relation to insolvency resolution has to be determined by NCLT – Tejinder Pal Setia v. Kone Elevators India Pvt. Ltd. and Anr. – Delhi High Court
Hon’ble Delhi High Court held that:
(i) As such, this Court has no territorial jurisdiction to entertain the prayers of the plaintiff with respect to the assignment deed dated 03.02.2023, which is the fulcrum of the present suit.
(ii) Sections 63 and 231 IBC create a bar on the jurisdiction of the civil court in respect of any matter in which the NCLT and NCLAT has jurisdiction under the IBC and the adjudicating authority under the Code is competent to pass any order.
(iii) The jurisdiction vested in NCLT while dealing with a resolution plan is of wide ambit and any question of law or fact in relation to the insolvency resolution has to be determined by the NCLT.