# In the matter of M/s R Krishnamurthy and Co. Vs. IBBI & Anr., W.P.(C) 379/2023

> HC judgment dated 2023-01-12. Citation: TCN-2023-HC-00090. M/s R Krishnamurthy & Co. filed a writ petition against the Insolvency and Bankruptcy Board of…

- **Court:** HC
- **Order date:** 12 Jan 2023
- **Citation:** TCN-2023-HC-00090
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/ms-r-krishnamurthy-and-co-vs-ibbi-anr-wp-6678fd04

## Summary

### Background

M/s R Krishnamurthy & Co. filed a writ petition against the Insolvency and Bankruptcy Board of India (IBBI) and another respondent, challenging certain portions of an order dated 28th October, 2022, issued by the IBBI. The petitioner's grievance stems from allegations made by Respondent No. 2 against the petitioner within the IBBI's order. The petitioner fears that these allegations, presented as submissions, could be misconstrued as findings against them, especially since the order is publicly accessible. The petitioner had initially filed a complaint against Respondent No. 2, who was appointed as a liquidator of M/s Pratibha Industries International Ltd. The IBBI, after considering the complaint and hearing Respondent No. 2, imposed a penalty of Rs. 5,00,000/-

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## Facts

M/s R Krishnamurthy & Co. (the Petitioner) filed a complaint against Respondent No. 2, who was the liquidator of M/s Pratibha Industries International Ltd. The IBBI considered the complaint and imposed a penalty on Respondent No. 2. The Petitioner is aggrieved by certain allegations made by Respondent No. 2 in the IBBI's order dated 28th October, 2022, fearing they could be misconstrued as findings against them. The Petitioner claims to be a government contractor and argues that the allegations are adversely affecting its commercial interests. The IBBI contends that the relevant paragraphs are merely submissions by Respondent No. 2, not findings of the Board. The Petitioner also alleges that the IBBI did not consider the allegations made by the Petitioner of

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## Issues and analysis

### Issue 1: Whether paragraphs 3.8.1, 3.8.2 and 3.8.7 of the impugned order should be construed as submissions …

**Ratio:** The principle is that publicly available documents should not contain statements that

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**Reasoning:** The court reasoned that a cursory reading of the order might not clearly distinguish the

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**Interpretation:** The court interpreted the IBBI's order in light of the potential for

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**Application:** The court applied this principle by directing that specific paragraphs of the

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## Parties

- **Judges:** PRATHIBA M.…
- **Appellants:** M/S R KRISHNAMURTH…
- **Respondents:** M/s Pratibha…; Insolvency and…

## Timeline

- **2021-01-27 — Complaint…**: The Petitioner made a…
- **2022-10-28 — Impugned Ord…**: Date of the impugned…

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