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2023 (10) TMI 176 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIApplication for recalling an order passed by five-member bench of NCLAT in UNION BANK OF INDIA (ERSTWHILE CORPORATION BANK) VERSUS DINKAR T. VENKATASUBRAMANIAN & ORS. [2023 (7) TMI 308 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI] where the matter was referred to Larger Bench - HELD THAT:- Since the Financial Creditors of M/s Amtek Auto Limited were not a party before this Tribunal when it was considering CA(AT)(Insolvency) No. 729 of 2020 which was disposed off in UNION BANK OF INDIA (ERSTWHILE CORPORATION BANK) VERSUS MR DINKAR T. VENKATASUBRAMANIAN, DVI PE (MAURITIUS) LTD, DECCAN VALUE INVESTORS LP [2022 (1) TMI 1382 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI, by which the Resolution Professional was directed not to deduct the amount of Rs. 34 crores, it was necessary that the Financial Creditors of M/s Amtek Auto Limited (who comprised the CoC) should have been heard before making an order, which was a variance with the commercial decision of the CoC. In doing so, this Tribunal did not follow the dictum that ‘no one shall be Condemned unheard’. The judgment of three-member bench of this Tribunal in [2022 (1) TMI 1382 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI] is hereby recalled - application disposed off.
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