Aditya Birla Finance Limited filed a writ petition challenging the constitutional validity of certain regulations under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The petition also challenged an order dated 15th December, 2020, passed by the Mumbai Bench of the Adjudicating Authority in I.A. No. 1196 of 2020, which directed Aditya Birla Finance Limited to contribute towards liquidation costs amounting to Rs.91,00,000. The court, at the ad-interim stage, stayed the impugned order subject to the condition that Aditya Birla Finance Limited deposits the said amount in court within one week. The liquidator of Tag Offshore Limited is Respondent No. 5 in the case.

Aditya Birla Finance Limited filed a writ petition challenging the constitutional validity of certain regulations under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The petition also challenged an order dated 15th December, 2020, passed by the Mumbai Bench of the Adjudicating Authority in I.A. No. 1196 of 2020, which directed Aditya Birla Finance Limited to contribute towards liquidation costs amounting to Rs.91,00,000. The court, at the ad-interim stage, stayed the impugned order subject to the condition that Aditya Birla Finance Limited deposits the said amount in court within one week. The liquidator of Tag Offshore Limited is Respondent No. 5 in the case.