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Supreme Court of India

Arcelormittal India Private Limited v. Satish Kumar Gupta & Ors.

Neutral citation
Reported as [2018] 12 S.C.R. 362
Bench R. F. Nariman and Indu Malhotra JJ.
Decided 4 October 2018

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

21 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that Shri Rohatgi is right, inasmuch as VTB Bank cannot be said to have been prohibited by an authority outside India from trading in securities or accessing the securities markets, due to any fraudulent and/or unfair trade p ractices ARCELORMITTAL INDIA PRIVATE LIMITED v.

Judgment, page 126

From the headnote

Insolvency and Bankruptcy Code, 2016: s.29A – Issue relates to ineligibility of resolution applicants to submit resolution plans after the introduction of s.29A into the Code – Petition file d under the Code for financial debts owed to the financial cre ditors-Banks by the corporate debtor ESIL for Rs.45,000 crores – RP (Reso lution Professional) invited an expression of interest fro m potential resolution applicants – Appellant (AMIPL) and one entity Numetal submitted expression of interest – Submission of resolution p lan by AMIPL and Numetal – RP found both AMIPL and Numetal ineligible

Authorities it was built on

Where later benches applied it

Of those, 3 relied on · 13 referred to · 5 mentioned

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