Held, Considering the text of S. 60(5)(c) and the interpretation of similar provisions in other insolvency related statutes, NCLT has jurisdiction to adjudicate disputes, which arise solely from or which relate to the insolvency of the corporate debtor. However, in doing do, NCLT and NCLAT have to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and fora when the dispute is one that does not arise solely from or relate to the insolvency of the corporate debtor.
Further, the residuary jurisdiction of NCLT under S. 60(5)(c) provides it a wide discretion to adjudicate questions of law or fact arising from or in relation to the insolvency resolution proceedings, but only in relation to insolvency resolution proceedings.
Power exercisable under 60(5) is not limited by section 14. Scope of operation of S.14 explained.
(2021) 7 SCC 209 [Gujarat Urja Vikas Nigam Ltd. v. Amit Gupta]