# In the matter of Ankit Metal and Power Limited Vs. Gandhar Oil Refinery (India) Limited Civil Appeal No(s) 2483-2018

> SC judgment dated 2018-03-05. Citation: TCN-2018-SC-00074. The case involves a civil appeal arising out of a special leave petition. The National Company Law…

- **Court:** SC
- **Order date:** 5 Mar 2018
- **Citation:** TCN-2018-SC-00074
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/ankit-metal-and-power-limited-vs-gandhar-oil-refinery-f5c19182

## Summary

### Background

The case involves a civil appeal arising out of a special leave petition. The National Company Law Tribunal (NCLT), Kolkata Bench, had previously passed a judgment and order in CP No. 704/2017 on February 14, 2018. The Supreme Court heard the appeal.

## Facts

M/S Ankit Metal and Power Limited filed an appeal against M/S Gandhar Oil Refinery (India) Limited. The appeal originated from a judgment and order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, in CP No. 704/2017 on February 14, 2018. The parties reached a settlement, the terms of which were dated 19th February, 2018. The Supreme Court heard the appeal on March 5, 2018, and disposed of it based on the settlement terms. The court also considered a previous order dated 24th July, 2017, in Civil Appeal No. 9279 of 2017.

## Issues and analysis

### Issue 1: Whether the appeal should be disposed of based on …

**Ratio:** Appeals can be disposed of based on mutually agreed terms of settlement between the

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**Reasoning:** The court acknowledged the settlement reached between the parties and considered it

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**Interpretation:** This indicates the court's willingness to endorse and enforce settlements

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**Application:** The court applied this principle by accepting the settlement terms and

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## Parties

- **Judges:** Ranjan…; R. BANU…
- **Appellants:** M/S ANKIT METAL…
- **Respondents:** M/S GANDHAR OIL…
- **Other parties:** Over Tu…

## Timeline

- **2017-07-24 — Previous Cour…**: Order passed in Civil Appeal No.9279 of 2017 [Lokhandwala Kataria Construction Private…
- **2018-02-14 — NCLT Ord…**: Judgment and order passed by the National Company Law Tribunal, Kolkata Bench, in CP No.…

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