In Brief
Embassy Property Developments Pvt. Ltd, a corporate debtor in insolvency, sought an order from NCLT directing the State of Karnataka to execute supplemental lease deeds extending its mining lease. The Supreme Court dismissed the appeal, holding that NCLT has no jurisdiction over matters falling outside the Insolvency and Bankruptcy Code, 2016. While IBC provides a unified framework for insolvency resolution, it cannot be used to enforce unrelated administrative rights. Corporate debtors must pursue such matters through alternative statutory remedies outside the IBC framework.
The lawyer headnote and full judgment text are available to registered users.