2018 (1) TMI 1654 - SC - Insolvency and Bankruptcy

Maintainability of petition - Operational Debt - HELD THAT - National Company Law Tribunal, Kolkata Bench, Kolkata, on 09.01.2018, has admitted the petition and we are informed that by an order passed on 12.01.2018 has corrected some errors that have crept in. However, the matter now stands settled. We take a copy of the Settlement Agreement dated 11.01.2018 entered into between the parties on record and by using our powers under Article 142 of the Constitution of India set aside the order(s) passed by the National Company Law Tribunal. Appeal disposed off.

Summary

The Supreme Court allowed an appeal in a case involving operational debt, setting aside the National Company Law Tribunal's orders based on a Settlement Agreement dated 11.01.2018 between the parties. The appeal was disposed of. (Citation: 2018 (1) TMI 1654 - Supreme Court)