ORDER :

(Biren Vaishnav, J.)

1. The present Criminal Misc. Application (for contempt) has been filed by Gujarat Operational Creditors Association under Section 15 of the Contempt of Court’s Act read with Article 215 of the Constitution of India for the following prayers:

“1. Exercising suo motu power under Section 15 of the Contempt of Courts Act (1971) read with Article 215 of the Constitution of India, commit the named offenders to criminal trial for criminal contempt of Court, try, convict and sentence them to prison, with consecutive sentences being passed for each incident of ‘criminal contempt of court’ complained of.

2. Make, in exercise of power under Section 357(3) of the CrPC, an order for grant of compensation to the Petitioners’ group for the costs, expenses, mental harassment, and injury suffered by them, with be not less than Rs. 10 crores.”

2. It is the case of the applicant as factually submitted by Mr.Deepak Khosla learned advocate for the applicant that in the facts of the present case, the respondents have obtained the order from the NCLT on 08.03.2019 by fraud. Factually, it is the case of the applicant that ESSAR Steel India Ltd. (‘ESIL’ for short) was placed into insolvency resolution by NCLT (Ahmedabad) vide its order dated 02.08.2017. The successful resolution applicant was Arcelor Mittal India Pvt. Ltd. (respondent No.5) who submitted a resolution plan that was approved by the NCLT vide its order dated 08.03.2019. The order was challenged before the NCLAT which with some modification approved a resolution plan by a judgement dated 04.07.2019. Thereafter the judgment was taken before the Supreme Court and the Supreme Court in its further notification approved the resolution plan vide its judgement dated 15.11.2019. It is the case of the applicant that in terms of the judgement dated 15.11.2019, operational creditors of the ESIL having claimed upto Rs.1 crore were to be paid in full and people having claims above Rs.1 crore would be paid only 20.50% of their total claims. It is the case of the petitioner no.1 that he has been paid 20.50%.

3. Mr.Deepak Khosla learned counsel for the applicant would submit that the applicants are “operational creditors” who have been deprived of their claim to the extent of 79.50% as a result of the respondents having carried out the entire resolution process by subterfuge and fraud.

4. Mr.Khosla would invite the Court’s attention to submit that the entire insolvency resolution process of ESIL is marred by fraud meaning thereby that the order of the NCLT Ahmedabad Bench passed on 08.03.2019 approving the resolution plan furnished by Arcelor Mittal India Pvt. Ltd. is a nullity in law, viod-ab-initio and non-est.

5. It is his case that the respondents arrayed in the application had jointly through their consorted design, the role of each being highlighted in the application, by the resolution process defrauded the banks and therefore caused loss to the public exchequer.

6. Mr.Khosla learned counsel for the applicant would invite the Court’s attention to an intervention application filed by Babu Erectors (P.) Ltd. a vendor of Essar Steel who was originally owed a sum of Rs.6.81 crores by ESIL but was paid only Rs.92.42 lakhs in the application filed before the Supreme Court. Mr.Khosla would submit that the entire modus operandi of how the resolution process, has been carried out by fraud has been highlighted and an attempt is made to expose a fraud which is even larger than the Satyam Scam. Collusive litigations are engineered between the respondents and the resolution plan is a foundation which was constructed in a sandpit of fraud. Arcelor Mittal India Pvt. Ltd. which is a wholly owned subsidiary of a foreign company known as Arcelor Mittal SA (Luxembourg) has obtained ownership and control of Essar Steel with an Insolvency Resolution Plan of Rs.42,000 crores that was approved by the NCLT by order dated 08.03.2019. By this fraud, it has reaped a wrongful gain of Rs.10,000 cro