# In the matter of Aditya Birla Finance Limited Vs. Union of India & Ors. Writ Petition (L) No. 9711 of 2020

> HC judgment dated 2020-12-23. Citation: TCN-2020-HC-00001. The writ petition challenges the constitutional validity of Regulation 2A and Regulations 21A (2)…

- **Court:** HC
- **Order date:** 23 Dec 2020
- **Citation:** TCN-2020-HC-00001
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-chandigarh-bench/aditya-birla-finance-limited-vs-union-of-india-ors-writ-petition-d0d4e509

## Summary

### Background

The writ petition challenges the constitutional validity of Regulation 2A and Regulations 21A (2) and (3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. It also challenges the impugned order dated 15th December, 2020 passed by the Mumbai Bench of the Adjudicating Authority in I.A. No. 1196 of 2020, which directs the Petitioner to contribute towards the liquidation costs.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the constitutional validity of Regulation 2A and Regulations 21A (2) and (3) of the …

**Ratio:** The court did not provide a definitive ratio on the constitutional validity of the

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**Reasoning:** The court considered the challenge to the constitutional validity of the regulations as a

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**Interpretation:** The court acknowledged the challenge to the constitutional validity of the

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**Application:** The challenge to the constitutional validity of the regulations was one of the

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## Parties

- **Judges:** B. P. COLAB…; Madhav J.…
- **Appellants:** ADITYA BIRLA…
- **Respondents:** Tag Offshore…; Union of…

## Timeline

- **2020-12-15 — Impugned…**: Order passed by the Mumbai Bench of the Adjudicating Authority in I.A. No. 1196 of 2020,…
- **2020-12-23 — Court Or…**: The High Court granted an interim stay on the impugned order subject to the Petitioner…

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