# In the matter of Committee of Creditor of Amtek Auto Limited Vs. Dinkar T. Venkatsubramanian & Ors. Civil Appeal No (s) 6707-2019

> SC judgment dated 2019-09-24. Citation: TCN-2019-SC-00022. The case involves a civil appeal concerning the insolvency resolution of Amtek Auto Limited. A…

- **Court:** SC
- **Order date:** 24 Sept 2019
- **Citation:** TCN-2019-SC-00022
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/committee-of-creditor-of-amtek-auto-limited-vs-dinkar-t-venkatsubramanian-ors-ci-6364dfb4

## Summary

### Background

The case involves a civil appeal concerning the insolvency resolution of Amtek Auto Limited. A resolution plan prepared by the Committee of Creditors (CoC) had failed due to non-fulfillment of commitments by Liberty House, consuming available time under Section 12 of the Insolvency and Bankruptcy Code, 2016. The court considered the third proviso of the Amendment Bill, 2019, which allows completion of the resolution process within 90 days from the commencement of the Amendment Act.

## Facts

The Committee of Creditors of Amtek Auto Limited initiated a corporate insolvency resolution process. A resolution plan was prepared but failed due to non-fulfillment of commitments by Liberty House. This failure consumed time allocated under Section 12 of the Insolvency and Bankruptcy Code, 2016. The Amendment Bill, 2019, introduced a 90-day timeline for completing the resolution process. The court considered this amendment and a previous decision in 'Arcelormittal India Pvt. Ltd Vs. Satish Kumar Gupta and Ors.' The court then permitted the Resolution Professional to invite fresh offers within 21 days, with the Committee of Creditors to make a final decision within two weeks and present it to the court.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be permitted to invite fresh offers for the resolution …

**Ratio:** The court has the discretion to allow additional efforts for resolution, balancing the

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**Reasoning:** The court considered the submissions of the Solicitor General and the agreement of the

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**Interpretation:** This issue involves the interpretation of the court's powers under the

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**Application:** The court applied the ratio by permitting the Resolution Professional to invite

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## Parties

- **Judges:** Arun Mi…; Vineet…; +1 more
- **Appellants:** Committee of…
- **Respondents:** Amtek Auto…; Dinkar T.…
- **Advocates:** Tushar…; Mish…; +10 more

## Timeline

- **2019-08-16 — Amendment Bill…**: The Amendment Bill, 2019, came into effect, introducing a 90-day timeline for the…
- **2019-09-24 — Appeals Called for…**: The appeals were called for…

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