Calcutta HC Declines Jurisdiction Over NCLT Valuation Challenge

The Calcutta High Court, directed the return of a plaint filed by Dharmik Coal Private Limited challenging a valuation report prepared during the liquidation of Bharat NRE Coke Limited. 

The Court held that it lacked territorial jurisdiction since the property, valuer and valuation exercise were all located in Gujarat, and further observed that a statutory bar existed against entertaining a civil suit concerning a valuation undertaken pursuant to directions of the NCLT.