Arcelormittal India Private Limited vs. Standard Chartered Bank

SECTION XVII

ITEM NO.1501 (For judgment) COURT NO.4

SUPREME COURT OF INDIA RECORD OF PROCEEDINGS

CIVIL APPEAL Diary No(s). 24417/2019

(Arising out of impugned final judgment and order dated 04-07-2019 in CAAT No. 257/2019 04-07-2019 in CAAT No. 265/2019 passed by the National Company Law Appellate Tribunal)

COMMITTEE OF CREDITORS OF ESSAR STEEL INDIA LIMITED THROUGH AUTHORISED SIGNATORY Petitioner(s)

VERSUS

SATISH KUMAR GUPTA & ORS.

Respondent $(s)$

([HEARD BY: HON. ROHINTON FALI NARIMAN, HON. SURYA KANT AND HON. V. RAMASUBRAMANIAN, JJ])

WITH

ature Not Ve

$\frac{17:12:39}{17:12:39}$

C.A. No. 5634-5635/2019 (XVII)

C.A. No. 5636-5637/2019 (XVII)

C.A. No. 5716-5719/2019 (XVII)

C.A. No. 5996/2019 (XVII)

C.A. No. 6266/2019 (XVII)

C.A. No. 6269/2019 (XVII)

W.P.(C) No. 1055/2019 (PIL-W)

$W.P.(C)$ No. 1064/2019 (X)

$W.P.(C)$ No. 1049/2019 (X)

$W.P.(C)$ No. 1050/2019 (X)

$W.P.(C)$ No. 1057/2019 (X)

$W.P.(C)$ No. 1058/2019 (X)

$\frac{10061}{4000}$ of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contr

$W.P.(C)$ No. 1060/2019 (X)

$W.P.(C)$ No. 1056/2019 (X)

C.A. No. 6409/2019 (XVII)

W.P.(C) No. 1063/2019 (X)

C.A. No. 6433-6434/2019 (XVII)

W.P.(C) No. 1066/2019 (X)

W.P.(C) No. 1087/2019 (X)

W.P.(C) No. 1110/2019 (X)

W.P.(C) No. 1113/2019 (X)

W.P.(C) No. 1121/2019 (X)

Diary No(s). 31409/2019 (XVII)

C.A. No. 7266/2019 (XVII)

C.A. No. 7260/2019 (XVII)

W.P.(C) No. 1246/2019 (X)

Diary No(s). 36838/2019 (XVII)

W.P.(C) No. 1296/2019 (X)

Date : 15-11-2019 These matters were called on for pronouncement of judgment today.

For Parties: Mr. K.K.Venugopal, Attorney General for India Mr. Tushar Mehta, SG Mr. Arvind Kr. Sharma, AOR

Mr. Tushar Mehta, SG

Mr. Niraj Kumar, Adv.

Mr. Kirat Singh Nagra, Adv.

Mr. Satyender Rai, Adv.

Mr. Chander Prakash, AOR

Mr. Aniruddha P. Mayee, AOR Mr. A. Rajarajan, Adv. Mr. Sanjeev Kr. Choudhary, Adv. Mr. A. Selvin Raja, Adv.

Mr. Sapan Gupta, Adv.

Ms. Misha, Adv.

Mr. Siddhant Kant, Adv.

Ms. Mrida Lakhmani, Adv.

Ms. Jasveen Kaur, Adv.

Ms. Moushmi Mehta, Adv.

Mr. S. S. Shroff, AOR

Ms. Anannya Ghosh, AOR Mr. Dushyant Manocha, Adv. Mr. Hitesh Saini, Adv. Mr. Brian Moses, Adv. Mr. Pavan Bhushan, Adv. Ms. Ujjwala, Adv. Mr. Pranav, Adv. Ms. Anindita Mitra, AOR Mr. Neeraj Kishan Kaul, Sr. Adv. Ms. Ruby Singh Ahuja, Adv. Mr. Sudhir Sharma, Adv. Mr. Vishal Gehrana, Adv. Mr. Anupam Prakash, Adv. Mr. Utkarsh Maria, Adv. Mr. Naman Bagga, Adv. Mr. Abhishek Swaroop, Adv. Ms. Misha Chandna, Adv. Mr. Deepak Joshi, Adv. Mr. Avishkar Singhvi, Adv. Mr. Amit Bhandari, Adv. For M/s. Karanjawala & Co., AOR M/s. Juris Corp., AOR Mr. Mukul Rohatgi, Sr. Adv. Mr. Nikhil Nayyar, Sr. Adv. Mr. Ashu Kansal, Adv. Ms. Niharika Ahluwalia, AOR Mr. Alok Dhir, Adv. Ms. Varsha Banerjee, Adv. Mr. Ashu Kansal, Adv. Mr. Milan Singh Negi, Adv. Ms. Stuti Vatsa, Adv. Mr. T. V. S. Raghavendra Sreyas, AOR Mrs. Shally Bhasin, AOR Mrs. Hemantika Wahi, AOR Ms. Ranjitha Ramachandran, Adv. Ms. Jesal Wahi, Adv. Ms. Puja Singh, Adv. Mr. C.U. Singh, Sr. Adv. Mr. Ranjit Kumar, Sr. Adv. Mr. Anand Varma, AOR Mr. Shwetank Singh, Adv. Mr. Dhairya Madan, Adv. Ms. Vanshika Gupta, Adv.

Mr. A. Venayagam Balan, AOR

Mr. Vikas Mehta, AOR Mr. Arjun Asthana, Adv. Ms. Sreenita Ghosh, Adv. Ms. Ujjaini Chatterjee, Adv. Ms. Shivani Kachwaha, Adv. Ms. Anshula Vijay Kumar Grover, AOR M/s. K Ashar & Co., AOR Mr. E. C. Agrawala, AOR Mr. Kapil Sibal, Sr. Adv. Mr. Sandeep Singhi, Adv. Mr. Gaurav Mathur, Adv. Ms. Anushree Prashit Kapadia, AOR Mr. Abhishek Shah, Adv. Mr. Sudarsh Menon, AOR Ms. Neha Naik, Adv. Mr. P. S. Sudheer, AOR Mr. Rishi Maheshwari, Adv. Mrs. Mayuri Nayyar Chawla, Adv. Ms. Anne Mathew, Adv. Mr. Bharat Sood, Adv. Ms. Shruti Jose, Adv. Mr. Ramji Srinivasan, Sr. Adv. Mr. Dhananjay Kumar, Adv. Mr. Raunak Dhillon, Adv. Ms. Ananya Dhar Choudhury, Adv. Ms. Ishmeet Kaur, Adv. For M/s. Cyril Amarchand Mangaldas, AOR Soumya Dutta, AOR Mr. Pradeep Misra, AOR Ms. Pallavi Pratap, Adv. For M/s Pratap and Co., AOR Mr. Manish K. Bishnoi, AOR Mr. Gaurav Juneja, Adv. Mr. Aditya Ganju, Adv. Ms. Preetika Mehrotra, Adv. For Khaitan & Co., AOR Ms. Garima Bajaj, AOR Mr. Akshay Girish Ringe, AOR

Ms. Megha Mukerjee, Adv.

M/s. D.S.K. Legal, AOR

******

Hon'ble Mr. Justice R.F. Nariman pronounced the reportable judgment of the Bench comprising His Lordship, Hon'ble Mr. Justice Surya Kant and Hon'ble Mr. Justice V. Ramasubramanian in terms of which, it is concluded as follows:

"The appeals filed by the Committee of Creditors of Essar Steel Limited and other Civil Appeals are allowed. The impugned NCLAT judgment is set aside, except insofar as Civil Appeal No. 6409 of 2019, Civil Appeal No. 7266 of 2019, Civil Appeal No. 7260 of 2019 are concerned, which are dismissed. Insofar as Civil Appeal No. 6266 of 2019 and Civil Appeal No. 6269 of 2019 is concerned, the Appeals are partly allowed in terms of this judgment. The Writ Petitions are disposed of in terms of the judgment. It is made clear that the CIRP of the corporate debtor in this case will take place in accordance with the resolution plan of ArcelorMittal dated 23.10.2018, as amended and accepted by the Committee of Creditors on 27.03.2019, as it has provided for amounts to be paid to different classes of creditors by following Section 30(2) and Regulation 38 of the Code."

Pending applications, if any, stand disposed of.

(R. NATARAJAN) (NISHA TRIPATHI) COURT MASTER (SH) BRANCH OFFICER (Signed reportable judgment is placed on the file)