# In the matter of Committee of Creditors of Amtek Auto Limited through Corporation Bank Vs. Dinkar T. Venkatasubramanian & Ors. CA (AT) (Insolvency) No. 219-2019

> NCLAT judgment dated 2019-03-28. Citation: TCN-2019-NCLAT-00708. This is a Company Appeal (AT) (Ins.) No. 219 of 2019 before the National Company Law…

- **Court:** NCLAT
- **Order date:** 28 Mar 2019
- **Citation:** TCN-2019-NCLAT-00708
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/committee-of-creditors-of-amtek-auto-limited-through-corporation-bank-vs-dinkar-a67f6c27

## Summary

### Background

This is a Company Appeal (AT) (Ins.) No. 219 of 2019 before the National Company Law Appellate Tribunal (NCLAT) in New Delhi. The appeal involves the Committee of Creditors of Amtek Auto Ltd. through Corporation Bank as the appellant and Dinkar T. Venkatasubramanian & Ors. as the respondents. The case concerns a resolution plan approved in favor of 'Liberty House Group' (Corporate Debtor) that has not been complied with.

## Facts

The Committee of Creditors of Amtek Auto Ltd., represented by Corporation Bank, filed an appeal against Dinkar T. Venkatasubramanian & Ors. The appeal concerns a 'resolution plan' approved in favor of 'Liberty House Group' (Corporate Debtor), which has allegedly not been complied with. Mr. Gyanendra Kumar, representing ‘Deccan Value Investors, LP' (DVI), who was a ‘resolution applicant’ but had withdrawn the ‘resolution plan', sought to intervene. Mr. Sumesh Dhawan also sought to intervene on behalf of ‘Shareholders/Members' of the 'Corporate Debtor'. The court allowed both advocates two weeks to file intervention applications. The court also directed that the Committee of Creditors not approve any other plan pursuant to the impugned order dated 15th February,

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## Issues and analysis

### Issue 1: Whether the Appellate Tribunal should set aside the impugned order and direct the Adjudicating …

**Ratio:** The Appellate Tribunal has the power to set aside an impugned order if it finds that the

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**Reasoning:** The court directed the parties to state why the Appellate Tribunal should not set aside

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**Interpretation:** This issue involves interpreting the powers of the Appellate Tribunal under the

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**Application:** The court is applying the provisions of the I&B Code to the specific facts

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…
- **Appellants:** Committee of…
- **Respondents:** Liberty House…; Dinkar T.Venkatasu…

## Timeline

- **2019-02-15 — Impugned Ord…**: Date of the impugned order that the Committee of Creditors is restricted from approving…
- **2019-03-28 — Court He…**: Mr. Gyanendra Kumar sought to intervene on behalf of ‘Deccan Value Investors, LP' (DVI),…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(3) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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