# In the matter of Union Bank of India vs. Dinkar T. Venkatasubramanian & Ors.

> NCLAT judgment dated 2023-10-04. Citation: TCN-2023-NCLAT-00150. This case involves an Interlocutory Application (I.A. No. 3961 of 2022) filed by the…

- **Court:** NCLAT
- **Order date:** 4 Oct 2023
- **Citation:** TCN-2023-NCLAT-00150
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/union-bank-of-india-vs-dinkar-t-venkatasubramanian-ors-5eb1a6e0

## Summary

### Background

This case involves an Interlocutory Application (I.A. No. 3961 of 2022) filed by the Applicant Financial Creditors of M/s Amtek Auto Limited through State Bank of India, seeking the recall of an order dated 27.1.2022 in Company Appeal (AT)(Insolvency) No. 729 of 2020. The initial order arose from an application filed by Union Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Amtek Auto Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). A resolution plan was approved by the Committee of Creditors (CoC). Union Bank of India, aggrieved by the rejection of I.A. No. 222 of 2020, filed Company Appeal (AT)(Insolvency) No. 729 of 2020, in which the Financial Creditors of M/s Amtek Auto Limited were not

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## Facts

Union Bank of India filed an application under Section 7 of the IBC against M/s Amtek Auto Limited, leading to CIRP. A resolution plan was approved by the CoC with a majority voting share of 70.7% on 2020-01-11. The Adjudicating Authority approved the resolution plan on 2020-07-09. Union Bank of India filed Company Appeal (AT)(Insolvency) No. 729 of 2020, aggrieved by the rejection of I.A. No. 222 of 2020, but the Financial Creditors of M/s Amtek Auto Limited were not impleaded. The NCLAT partly allowed the appeal on 2022-01-27. The Financial Creditors filed a Civil Appeal before the Supreme Court, which was withdrawn on 2022-04-01 with liberty to file a review application before the NCLAT. A review application was filed and disposed of on 2022-09-02. I.A. No. 3961 of

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## Issues and analysis

### Issue 1: Whether this Tribunal not being vested with any power to review the judgment can entertain an …

**Ratio:** The Tribunal is not vested with any power to review the judgment, however, in exercise of

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**Reasoning:** The five-member bench considered the distinction between review and recall, noting that

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**Interpretation:** The Tribunal can correct procedural errors or address situations where a

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**Application:** The Tribunal can entertain the application for recall of judgment on sufficient

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## Parties

- **Judges:** Ashok Bh…; Alok Sriv…; +1 more
- **Appellants:** Union Bank of…
- **Respondents:** Amtek Auto…; Dinkar T.…

## Timeline

- **2016-01-01 — Insolvency App…**: Union Bank of India filed an application under Section 7 of the IBC against M/s Amtek…
- **2020-01-11 — Resolution Plan…**: A resolution plan was approved by the CoC…

## 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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