# Vinergy International Pvt. Ltd. vs. Bharat Petroleum Corporation Ltd. & Anr.

> SC judgment dated 2025-12-15. Citation: TCN-2025-SC-00104. Vinergy International Pvt. Ltd. (Corporate Debtor and Appellant) underwent a Corporate Insolvency…

- **Court:** SC
- **Order date:** 15 Dec 2025
- **Citation:** TCN-2025-SC-00104
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/vinergy-international-pvt-ltd-vs-bharat-petroleum-corporation-ltd-anr-a56ow

## Summary

### Background

Vinergy International Pvt. Ltd. (Corporate Debtor and Appellant) underwent a Corporate Insolvency Resolution Process (CIRP), and its resolution plan was subsequently approved by the NCLT, Mumbai. Prior to the CIRP, Bharat Petroleum Corporation Ltd. (Respondent No.1) had filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, which was decided by the High Court of Judicature at Bombay after the resolution plan's approval. The High Court's order appointed an arbitrator, which the appellant challenged before the Supreme Court.

## Facts

Vinergy International Pvt. Ltd. (appellant) is aggrieved by an order dated 10.07.2025 passed by the High Court of Judicature at Bombay.

The High Court's order was passed in exercise of power under Section 11 of the Arbitration and Conciliation Act, 1996, appointing an Arbitrator.

A Corporate Insolvency Resolution Process (CIRP) was initiated against Vinergy International Private Limited on 09.02.2023.

A Resolution Plan submitted by the Resolution Applicant for Vinergy International Private Limited was approved by the National Company Law Tribunal, Mumbai, on 09.12.2024.

Bharat Petroleum Corporation Ltd. (Respondent No.1) filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, prior to the initiation of the CIRP.

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## Issues and analysis

### Issue 1: Whether the Successful Resolution Applicant can be held liable for past liabilities of the …

**Ratio:** The 'clean slate' principle dictates that a Successful Resolution Applicant cannot be

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**Reasoning:** The application under Section 11 of the Arbitration and Conciliation Act, 1996, by Bharat

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**Interpretation:** The approval of a resolution plan under the Insolvency and Bankruptcy Code,

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**Application:** In this case, the High Court's order appointing an arbitrator for a pre-CIRP

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## Parties

- **Judges:** Sanjay…; ALOK AR…
- **Appellants:** VINERGY INTERNATIO…
- **Respondents:** Vinergy Internatio…; BHARAT PETROLEUM…
- **Advocates:** Dhruv D…; Rohan B…; +4 more

## Timeline

- **2023-02-09 — CIRP Init…**: Corporate Insolvency Resolution Process was initiated against Vinergy International…
- **2024-12-09 — Resolution Plan…**: The Resolution Plan submitted by the Resolution Applicant was approved by the National…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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