# In the matter of Uttam Galva Steel Metallics Limited & Uttam Value Steel Limited MA-150 &1751-2020 in CP(IB)-1830(MB)-2017 & CP(IB)-2054(MB)-2018

> NCLT judgment dated 2020-05-20. Citation: TCN-2020-NCLT-01342. The document pertains to an application filed by the Committee of Creditors (CoC)/Applicant for…

- **Court:** NCLT
- **Order date:** 20 May 2020
- **Citation:** TCN-2020-NCLT-01342
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/uttam-galva-steel-metallics-limited-uttam-value-steel-limited-ma-150-1751-2020-i-40168348

## Summary

### Background

The document pertains to an application filed by the Committee of Creditors (CoC)/Applicant for the correction of mistakes in paragraphs 14 and 25 of the order passed by the Principal Bench on April 30, 2020. The order relates to the Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited and Uttam Value Steel Limited. The corrections concern the roles and responsibilities of the Resolution Professional and the constitution of a monitoring committee after the Effective Date of the Resolution Plan.

## Facts

The Committee of Creditors (CoC) filed an application seeking correction of mistakes in paragraphs 14 and 25 of the Principal Bench's order dated April 30, 2020. The original order pertained to the Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited and Uttam Value Steel Limited. Paragraph 14 and 25 of the order contained ambiguities regarding the role of the Resolution Professional and the constitution of the monitoring committee after the Effective Date (the date on which the Adjudicating Authority approves the Resolution Plan). The application aimed to clarify that the Resolution Professional would cease to be involved in the management and affairs of the Corporate Debtor after the Effective Date, and a monitoring committee would be

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## Issues and analysis

### Issue 1: Whether the original order dated April 30, 2020, contained ambiguities regarding the role of the …

**Ratio:** The principle is that court orders should be clear and unambiguous to ensure effective

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**Reasoning:** The court found that paragraphs 14 and 25 of the original order lacked clarity regarding

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**Interpretation:** The interpretation is that the court has the power to correct errors in its

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**Application:** The court applied this principle by acknowledging the ambiguity in the original

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## Parties

- **Judges:** SHRI. B.S.V…
- **Appellants:** CoC (Uttam Galva…
- **Respondents:** Uttam Galva…

## Timeline

- **2020-04-30 — Original Ord…**: Principal Bench passed an order which…
- **2020-05-20 — Hearing…**: Hearing held on the application for…

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