# In the matter of Sysco Industries Ltd. Vs. Ecoplast Ltd. CA (AT) No. 130-2017

> NCLAT judgment dated 2017-08-31. Citation: TCN-2017-NCLAT-00126. The case involves a Company Appeal (AT) (Insol.) No. 130 of 2017 before the National Company…

- **Court:** NCLAT
- **Order date:** 31 Aug 2017
- **Citation:** TCN-2017-NCLAT-00126
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sysco-industries-ltd-vs-ecoplast-ltd-ca-07b6610e

## Summary

### Background

The case involves a Company Appeal (AT) (Insol.) No. 130 of 2017 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The parties, Sysco Industries Ltd. (Appellant) and Ecoplast Ltd. (Respondent), have settled their dispute. The Hon'ble Supreme Court of India accepted the settlement vide order dated 28th August, 2017 in Civil Appeal No.10581 of 2017.

## Facts

Sysco Industries Ltd. filed an appeal against Ecoplast Ltd. before the National Company Law Appellate Tribunal (NCLAT). During the proceedings, the parties reached a settlement. The Hon'ble Supreme Court of India accepted this settlement via an order dated August 28, 2017, in Civil Appeal No. 10581 of 2017. The Supreme Court's order included a directive that a cheque given by the appellant must be honored, with potential contempt of court consequences for non-compliance. The Supreme Court also clarified that the settlement and the resulting order do not prevent other creditors from pursuing legal action against the appellant. The NCLAT, acknowledging the Supreme Court's order, disposed of the appeal.

## Issues and analysis

### Issue 1: Whether the National Company Law Appellate Tribunal should dispose of the appeal in light of the …

**Ratio:** When parties to a dispute reach a settlement, and the Supreme Court accepts that

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**Reasoning:** The NCLAT acknowledges the Supreme Court's acceptance of the settlement and recognizes

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**Interpretation:** This demonstrates the hierarchical structure of the Indian legal system, where

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**Application:** In this case, the NCLAT applied the principle by closing and disposing of the

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## Parties

- **Judges:** S.J. Mukhop…; Balvinder…
- **Appellants:** Sysco Industries…
- **Respondents:** Ecoplast…
- **Advocates:** Pankaj…; Ashok…; +2 more

## Timeline

- **2017-08-28 — Supreme Cour…**: The Hon'ble Supreme Court of India accepted the settlement between the parties vide order…
- **2017-08-31 — NCLAT Or…**: The NCLAT disposed of the appeal in view of the order passed by the Hon'ble Supreme Court…

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