Additional Sessions Judge does not have jurisdiction to entertain the complaint filed by IBBI – Satyanarayan Bankatlal Malu Vs. Insolvency and Bankruptcy Board of India – Bombay High Court
Hon’ble High Court holds that the impugned proceedings have been instituted by the Respondents (Complainant) in the Court of Additional Sessions Judge, were not sustainable for want of jurisdiction. As a consequence order, ‘issue process’ passed by the learned Additional Sessions Judge against the Petitioners, in a complaint by the Respondents/Board was without jurisdiction and therefore not sustainable equally. It is therefore to be held that Special Court “which is to try offences under the I.B. Code is the Special Court established under Section 435(2)(b) of the Companies Act, 2013 which consists of Metropolitan Magistrate or Judicial Magistrate First Class. The Petition is therefore allowed in terms of prayer clause (a).