# In the matter of Suraksha Realty Limited & Ors. vs. Insolvency and Bankruptcy Board of India & Anr.

> HC judgment dated 2024-06-01. Citation: TCN-2024-HC-00080. 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-00080
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/suraksha-realty-limited-ors-vs-insolvency-and-bankruptcy-board-of-india-anr-8f7262c5

## 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 Respondent No.1/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. The IBBI, represented by the Additional Solicitor General (ASG), raised a preliminary objection regarding the maintainability of the petition due to territorial jurisdiction, noting that similar petitions were transferred to the Bombay High Court by the Supreme Court. The court found merit in the objection and disposed of the petition, granting the petitioner the liberty to file a fresh petition before the Bombay High Court. The court did not comment on the merits of the case.

## Issues and analysis

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

**Ratio:** A court's jurisdiction is limited by its territorial boundaries. If a similar matter is

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**Reasoning:** The court found merit in the preliminary objection raised by the ASG, noting that the

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**Interpretation:** The principle of territorial jurisdiction dictates that a court can only hear

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**Application:** The court applied the principle of territorial jurisdiction by recognizing that

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## Parties

- **Judges:** Acting Chief…; MANMEET PRITAM…
- **Appellants:** Suraksha Realty…
- **Respondents:** Insolvency and…
- **Advocates:** Nikhil N…; Alok…; +10 more

## Timeline

- **2022-09-20 — Notification F. No.…**: Date of Notification F. No.…
- **2022-11-24 — Circular No. IBBI/IP/56/…**: Date of Circular No.…

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