In Brief

Amtek Auto Limited's insolvency proceedings saw the initial successful resolution applicant (Liberty) fail to implement its approved plan. After protracted litigation, a revised plan by Deccan Value Investor (DVI) was approved by both the Committee of Creditors and the appellate authority in July 2020. The Supreme Court held that the approved plan must be implemented without further delay as mandated by the Insolvency and Bankruptcy Code. The Court directed DVI to transfer the committed ₹500 crores and all parties to complete implementation within four weeks, rejecting liquidation and reaffirming that resolution takes precedence over liquidation under the Code.

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