Operational Creditor using a forum shopping cannot misuse insolvency proceedings as an alternative for alleged debt enforcement where he could not get success in the proceedings under the MSME Act and Commercial Courts Act – Dotcom Pharma Pvt. Ltd. Vs. Mylan Pharmaceuticals Pvt. Ltd. – NCLT Hyderabad Bench
May 3, 2024
The IBC is not intended to be a substitute for a recovery forum. However, the Applicant is on a forum shopping and when he could not get success in the proceedings under the MSME Act and Commercial Courts Act, he approached this Forum. This Forum cannot be misused as an alternative for alleged debt enforcement.