# In the matter of Axis Bank Limited Vs. Vidarbha Industries Power Limited Review Petition (Civil) No. 1043 Of 2022 
In Civil Appeal No. 4633 of 2021

> SC judgment dated 2022-09-22. Citation: TCN-2022-SC-00021. This is a review petition filed against the judgment in Civil Appeal No. 4633 of 2021. The review…

- **Court:** SC
- **Order date:** 22 Sept 2022
- **Citation:** TCN-2022-SC-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/axis-bank-limited-vs-vidarbha-industries-power-limited-review-petition-civil-no-4a189f2b

## Summary

### Background

This is a review petition filed against the judgment in Civil Appeal No. 4633 of 2021. The review was sought because it was argued that the court had overlooked the judgment in E.S. Krishnamurthy & Ors. vs. Bharath Hi-Tech Builders Pvt. Ltd., which addressed the adjudicating authority's power to compel settlement in insolvency proceedings under Section 7 of the IBC.

## Facts

Axis Bank Limited filed a Civil Appeal No. 4633 of 2021 against Vidarbha Industries Power Limited. A review petition (Civil) No. 1043 of 2022 was filed against the judgment in the civil appeal. The review petition was filed because the petitioner claimed that the court had overlooked the judgment in E.S. Krishnamurthy & Ors. vs. Bharath Hi-Tech Builders Pvt. Ltd., which discussed the adjudicating authority's power under Section 7 of the IBC. The Solicitor General of India submitted that certain observations made by the court in the judgment under review could be interpreted in a manner contrary to the aims and objects of the IBC. The court considered these submissions and the relevant paragraphs from the Krishnamurthy case.

## Issues and analysis

### Issue 1: Whether the observations made by the court in the judgment and order under review could be …

**Ratio:** Judgments and observations in judgments are not to be read as provisions of statute.

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**Reasoning:** The court reasoned that its observations were made in the context of the specific case at

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**Interpretation:** This clarifies that judicial pronouncements should be interpreted in light of

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**Application:** The court applied this principle to the Solicitor General's concern, stating

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## Parties

- **Judges:** INDIRA BA…; J.K. MAHE…
- **Appellants:** Axis Bank L…
- **Respondents:** Vidarbha Industrie…
- **Other parties:** Affir…

## Timeline

- **2022-09-22 — Hearing…**: The matters were called…
- **2022-07-12 — Original Ord…**: Final judgment and order date in C.A. No.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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