The court ruled that Section 66(1) of the IBC is constitutional, ensuring proper jurisdiction over fraudulent conduct without violating Article 14.

1. The petitioner is a practicing advocate and a resident of state of Tripura. The petitioner is before this court claiming public interest and no direct or indirect personal motive / interest and prays as follows:
(a) This is an application under Art.226 of Constitution of India for issuance of a writ of Mandamus and / or in the nature thereof to issue appropriate orders or direction, directing the respondent to forthwith take steps to declare S.66(1) of the Insolvency and Bankruptcy Code, 2016 as ultra vires on the vice of Art.14 of the Constitution of India for being manifestly arbitrary and unconstitutional, unless to save if from unconstitutionality and in consonance with the scheme and object of IBC, scope thereof is enlarged by this Hon'ble Court by expanding the powers and jurisdiction of the NCLT by enabling it to declare fraudulent business transactions as void under S.66 independent as void under S.66 independent of S.43, S.45, S.47, S.49 and S.50.
(b) This is an application under Art.226 of Constitution of India for issuance of a writ of Mandamus and / or in the nature thereof to issue appropriate orders or direction, directing the respondent to forthwith take steps to declare S.66(1) of the as ultra vires on the vice of Art.14 of the Constitution of India for being, manifestly arbitrary and unconstitutional, unless to save if from unconstitutionality and in consonance with the scheme and object of IBC, scope thereof is enlarged by this Hon'ble Court by expanding the powers and jurisdiction of the NCLT by enabling it to entertain application under S.66(1) on its merits even if filed by any creditor or contributory of the Corporate Debtor;
(c) This is also an application under Art.226 of Constitution of India for issuance of a writ of Mandamus and / or in the nature thereof to issue appropriate orders or direction, directing the Respondent to forthwith take steps to declare S.66(1) of the as ultra vires on the vice of Art.14 of the Constitution of India for being manifestly arbitrary and unconstitutional, unless to save it from unconstitutionality and in consonance with the scheme and object of IBC, scope thereof is enlarged by this Hon'ble Court by expanding the powers and jurisdiction of the NCLT by enabling it to pass an Order making liable to make such contributions to the assets of the corporate debtor as it may deem fit, not only against any persons who were knowingly parties to the carrying on of the business of the Corporate Debtor in such manner but also against other organizations legal entities (other than the corporate debtor) with whom such business was carried out;
(d) In addition the petitioner filed this application under Art.226 of Constitution of India for issuance of a writ of Mandamus and / or in the nature thereof to issue appropriate orders or direction, directing the Respondent to forthwith take steps to declare S.66(1) of the as ultra vires on the vice of Art.14 of the Constitution of India for being manifestly arbitrary and unconstitutional, unless to save it from unconstitutionality and in consonance with the scheme and object of IBC, scope thereof is enlarged by this Hon'ble Court by expanding the powers and jurisdiction of the NCLT by enabling it pass an Order making liable to make such contributions to the assets of the corporate debtor as it may deem fit, not only against any persons who were knowingly