M/S Anax Industries Pvt. Ltd. filed an appeal against the order of the National Company Law Tribunal (NCLT), Chennai, which had admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by M/S C.H. Robinson Worldwide Freight India Pvt. Ltd. The NCLT's order was dated December 6, 2017. Subsequently, the parties entered into a Memorandum of Settlement dated February 12, 2018, resolving their disputes. The Supreme Court took the settlement on record and, exercising its powers under Article 142 of the Constitution of India, set aside the NCLT's order. This action effectively terminated the insolvency proceedings initiated against M/S Anax Industries Pvt. Ltd.

M/S Anax Industries Pvt. Ltd. filed an appeal against the order of the National Company Law Tribunal (NCLT), Chennai, which had admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by M/S C.H. Robinson Worldwide Freight India Pvt. Ltd. The NCLT's order was dated December 6, 2017. Subsequently, the parties entered into a Memorandum of Settlement dated February 12, 2018, resolving their disputes. The Supreme Court took the settlement on record and, exercising its powers under Article 142 of the Constitution of India, set aside the NCLT's order. This action effectively terminated the insolvency proceedings initiated against M/S Anax Industries Pvt. Ltd.