Committee of Creditors of Essar Steel India Limited Through Authorised Signatory vs Satish Kumar Gupta

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2019 Supreme(SC) 1271

ROHINTON FALI NARIMAN, SURYA KANT, V.RAMASUBRAMANIAN
Committee of Creditors of Essar Steel India Limited Through Authorised Signatory – Appellant
Versus
Satish Kumar Gupta – Respondent

Advocates Appeared:
For the Parties :K.K.Venugopal, Attorney General for India Tushar Mehta, SG Arvind Kr. Sharma, Tushar Mehta, SG Niraj Kumar, Kirat Singh Nagra, Satyender Rai, Chander Prakash, Aniruddha P. Mayee, A. Rajarajan, Sanjeev Kr. Choudhary, A. Selvin Raja, Sapan Gupta, Misha, Siddhant Kant, Mrida Lakhmani, Jasveen Kaur, Moushmi Mehta, S. S. Shroff, Anannya Ghosh, Dushyant Manocha, Hitesh Saini, Brian Moses, Pavan Bhushan, Ujjwala, Pranav, Anindita Mitra, Neeraj Kishan Kaul, Ruby Singh Ahuja, Sudhir Sharma, Vishal Gehrana, Anupam Prakash, Utkarsh Maria, Naman Bagga, Abhishek Swaroop, Misha Chandna, Deepak Joshi, Avishkar Singhvi, Amit Bhandari, For M/s. Karanjawala & Co., M/s. Juris Corp., Mukul Rohatgi, Nikhil Nayyar, Ashu Kansal, Niharika Ahluwalia, Alok Dhir, Varsha Banerjee, Ashu Kansal, Milan Singh Negi, Stuti Vatsa, T. V. S. Raghavendra Sreyas, Mrs. Shally Bhasin, Mrs. Hemantika Wahi, Ranjitha Ramachandran, Jesal Wahi, Puja Singh, C.U. Singh, Ranjit Kumar, Anand Varma, Shwetank Singh, Dhairya Madan, Vanshika Gupta, A. Venayagam Balan, Vikas Mehta, Arjun Asthana, Sreenita Ghosh, Ujjaini Chatterjee, Shivani Kachwaha, Anshula Vijay Kumar Grover, M/s. K Ashar & Co., E. C. Agrawala, Kapil Sibal, Sandeep Singhi, Gaurav Mathur, Anushree Prashit Kapadia, Abhishek Shah, Sudarsh Menon, Neha Naik, P. S. Sudheer, Rishi Maheshwari, Mrs. Mayuri Nayyar Chawla, Anne Mathew, Bharat Sood, Shruti Jose, Ramji Srinivasan, Dhananjay Kumar, Raunak Dhillon, Ananya Dhar Choudhury, Ishmeet Kaur, For M/s. Cyril Amarchand Mangaldas, Soumya Dutta, Pradeep Misra, Pallavi Pratap, For M/s Pratap and Co., Manish K. Bishnoi, Gaurav Juneja, Aditya Ganju, Preetika Mehrotra, For Khaitan & Co., Garima Bajaj, Akshay Girish Ringe, Megha Mukerjee, M/s. D.S.K. Legal, Advocates

JUDGMENT :

R.F. NARIMAN, J.

Delay Condoned in Civil Appeal Diary No. 31409 of 2019 and Civil Appeal Diary No. 36838 of 2019. I.A. No. 102638 of 2019 in Civil Appeal Diary No. 24417 of 2019 for Permission to File Appeal allowed. Appeal Admitted.

1. This group of appeals and writ petitions raises important questions as to the role of resolution applicants, resolution professionals, the Committee of Creditors that are constituted under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”), and last, but by no means the least, the jurisdiction of the National Company Law Tribunal (hereinafter referred to as “NCLT”/“Adjudicating Authority”) and the National Company Law Appellate Tribunal (hereinafter referred to as “NCLAT”/“Appellate Tribunal”), qua resolution plans that have been approved by the Committee of Creditors. The constitutional validity of Sections 4 and 6 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019 (hereinafter referred to as the “Amending Act of 2019”) have also been challenged. These appeals and writ petitions are an aftermath of

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2019 Supreme(SC) 1271

ROHINTON FALI NARIMAN, SURYA KANT, V.RAMASUBRAMANIANCommittee of Creditors of Essar Steel India Limited Through Authorised Signatory – AppellantVersusSatish Kumar Gupta – Respondent

Cases Referred (18)

ROHINTON FALI NARIMAN, SURYA KANT, V.RAMASUBRAMANIAN
Committee of Creditors of Essar Steel India Limited Through Authorised Signatory – Appellant
Versus
Satish Kumar Gupta – Respondent