# In the matter of Suraksha Realty Limited & Anr Vs. Insolvency And Bankruptcy Board Of India & Anr.

> HC judgment dated 2024-06-01. Citation: TCN-2024-HC-00079. The writ petition challenges Regulation 31A of the Insolvency and Bankruptcy Board of India…

- **Court:** HC
- **Order date:** 1 Jun 2024
- **Citation:** TCN-2024-HC-00079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/suraksha-realty-limited-anr-vs-insolvency-and-bankruptcy-board-of-india-anr-cc36d9d9

## Summary

### Background

The writ petition challenges Regulation 31A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016. The petitioner seeks directions to the IBBI to withdraw Notification F. No. IBBI/2022-23/GN/REG096 dated September 20, 2022, Circular No. IBBI/IP/56/2022 dated November 24, 2022, and Notification F. No. IBBI/2023-24/GN/REG103 dated July 20, 2023, with retrospective effect.

## Facts

Suraksha Realty Limited & Anr. filed a writ petition challenging Regulation 31A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016. The petitioner sought directions for the IBBI to withdraw certain notifications and circulars issued by the IBBI. The IBBI, represented by the Additional Solicitor General (ASG), raised a preliminary objection based on territorial jurisdiction, pointing out that similar writ petitions had been transferred to the Bombay High Court by the Supreme Court and were pending adjudication there. The court found merit in this objection, leading to the disposal of the writ petition with liberty for the petitioner to pursue the matter in the Bombay High Court. The court did not

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## Issues and analysis

### Issue 1: Whether the Delhi High Court has territorial jurisdiction to hear the writ petition challenging …

**Ratio:** A court should refrain from exercising jurisdiction if a similar matter is already

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**Reasoning:** The court reasoned that hearing the writ petition despite similar matters being

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**Interpretation:** The principle of comity of courts and the avoidance of conflicting judgments

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**Application:** The court applied the principle by acknowledging the preliminary objection

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## Parties

- **Judges:** The Acting Chief…; MANMEET PRITAM…
- **Appellants:** Suraksha Realty…
- **Respondents:** Insolvency and…

## Timeline

- **2022-09-20 — Notification…**: IBBI issued Notification F.…
- **2022-11-24 — Circular…**: IBBI issued Circular…

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