# In the matter Committee of Creditors of AMTEK Auto Limited Through Corporation Bank Vs. Dinkar T Venkatasubramanian & Ors. I.A. No. 58156 of 2020 In Civil Appeal No. 6707 of 2019 and another appeal

> SC judgment dated 2021-02-23. Citation: TCN-2021-SC-00072. The case involves a Contempt Petition filed by the Committee of Creditors (CoC) of AMTEK Auto…

- **Court:** SC
- **Order date:** 23 Feb 2021
- **Citation:** TCN-2021-SC-00072
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/in-the-matter-committee-of-creditors-of-amtek-auto-limited-through-corporation-b-e190ad85

## Summary

### Background

The case involves a Contempt Petition filed by the Committee of Creditors (CoC) of AMTEK Auto Limited against Deccan Value Investors LP (DVI) for allegedly violating a court order. Simultaneously, DVI filed an application for rectification of a previous court order. The core issue revolves around DVI's resolution plan for AMTEK Auto, which was initially approved but later faced challenges due to the COVID-19 pandemic. The National Company Law Tribunal (NCLT) admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2017, initiating the corporate insolvency resolution process. Liberty House Group's plan was initially approved, but later found to be non-compliant, leading to the consideration of DVI's plan. The Supreme Court intervened to set

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## Facts

On July 24, 2017, an application under Section 7 of the IBC was admitted by the NCLT against AMTEK Auto Limited. Dinkar T Venkatsubramanian was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP invited resolution plans, and Liberty House Group and DVI submitted plans. Liberty House Group's plan was initially approved but later found to be non-compliant. The CoC filed an application seeking a declaration that Liberty House Group had willfully contravened the terms of the resolution plan. The NCLT directed the reconstitution of the CoC for consideration of DVI's plan. The NCLAT concluded that since more than 270 days had elapsed, liquidation of the corporate debtor would have to ensue. The Supreme Court

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## Issues and analysis

### Issue 1: Whether the application for …

**Ratio:** The record of the Court speaks for itself, and the terms of a judicial order reflect what

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**Reasoning:** The Court found that DVI was attempting to read into the order a basis which does not

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**Interpretation:** The Court interpreted its previous order and Section 31 of the IBC to mean that

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**Application:** The Court applied the principle that its own record is the best evidence of its

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## Parties

- **Judges:** Dr Dhananjaya Y…; M.R.…
- **Appellants:** Committee of…
- **Respondents:** Amtek Auto…; Dinkar T.…

## Timeline

- **2017-07-24 — Application under…**: An application under Section 7 of the Insolvency and Bankruptcy Code 2016 was admitted by…
- **2017-08-31 — RP invites resolution…**: The Resolution Professional published an…

## 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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