COMMITTEE OF CREDITORS OF AMTEK AUTO LIMITED THROUGH CORPORATION BANK vs DINKAR T. VENKATASUBRAMANIAN

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2021 Supreme(SC) 100

D. Y. CHANDRACHUD, M. R. SHAH
COMMITTEE OF CREDITORS OF AMTEK AUTO LIMITED THROUGH CORPORATION BANK – Appellant
Versus
DINKAR T. VENKATASUBRAMANIAN – Respondent

Advocates Appeared:
For the Appellant(s) : Mr. Tushar Mehta, SG Ms. Misha, Adv. Mr. Anoop Rawat, Adv. Mr. Siddhant Kant, Adv. Mr. Sagar Dhawan, Adv. Ms. Charu Bansal, Adv. Ms. Prabh Simran Kaur, Adv. Mr. S. S. Shroff, AOR
For the Respondent(s): Mr. Gyanendra Kumar, Adv. Ms. Shikha Tandon, Adv. Mr. Sumit Attri, Adv. Ms. Akanksha Sharma, Adv. Mr. Robin Grover, Adv. M/s. Cyril Amarchand Mangaldas Dr. Abhishek Manu Singhvi, Sr. Adv. Mr. Ashish Prasad, Adv. Mr. Mahfooz Ahsan Nazki, AOR Mr. Dinesh Pednekar, Adv. Mr. Chanakya Keswani, Adv. Mr. Arpan Behl, Adv. Mr. Sumant Batra, Adv. Mr. Sanjay Bhatt, Adv. Ms. Niharika Sharma, Adv. Mr. Joydeep Mukherjee, Adv. Ms. Akansha Srivastava, Adv. Mr. Rabin Majumder, AOR Mr. Arvind Kumar Gupta, Adv. Ms. Henna George, Adv. Mr. Ravindra Sadanand Chingale, AOR Mr. P. S. Sudheer, AOR Mr. D. P. Singh, Adv. Ms. Sonam Gupta, AOR Ms. Ishita Jain, Adv. Mr. Anurag Tandon, Adv. Mr. Manish Paliwal, Adv. Mr. Vikas Kumar, Adv. Mr. Raghav Tiwari, Adv. Mr. Mayank Grover, Adv. M/s Corporate Legal Partners Mr. Mayank Pandey, AOR Mr. E. C. Agrawala, AOR

JUDGMENT :

Dr Dhananjaya Y. Chandrachud, J

1. This judgment will govern two proceedings:

(i) A Contempt Petition¹[Contempt Petition (C) No.542 of 2020] instituted by the Committee of Creditors of AMTEK Auto Limited (“corporate debtor”) inter alia against Deccan Value Investors LP (“DVI”), the third Respondent in the Civil Appeal²[Civil Appeal No. 6707 of 2019] for violation of an order passed by this Court on 18 June 2020³[Order dated 18 June 2020 passed in I.A. No. 54321 of 2020 in Civil Appeal No. 6707 of 2019].

(ii) An application for rectification⁴[I.A. No.58156 of 2020] of the order of this Court dated 18 June 2020 instituted by DVI.

Both the proceedings are inter-related. Both have been heard together.

2. On 24 July 2017, an application under Section 7 of the Insolvency and Bankruptcy Code 2016 (“IBC”) was admitted by the National Company Law Tribunal (“NCLT”). Mr Dinkar T Venkatsubramanian was appointed as Interim Resolution Professional. He was later confirmed as the Resolution Professional (“RP”).

3. On 31 August 2017, the RP published an advertisement inviting resolution plans from prospective resolution applicants. Resolution plans were submitted by Liberty House Group and D

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2021 Supreme(SC) 100

D. Y. CHANDRACHUD, M. R. SHAHCOMMITTEE OF CREDITORS OF AMTEK AUTO LIMITED THROUGH CORPORATION BANK – AppellantVersusDINKAR T. VENKATASUBRAMANIAN – Respondent

D. Y. CHANDRACHUD, M. R. SHAH
COMMITTEE OF CREDITORS OF AMTEK AUTO LIMITED THROUGH CORPORATION BANK – Appellant
Versus
DINKAR T. VENKATASUBRAMANIAN – Respondent