# In the matter of Krishna Enterprises (Housing and Infrastructures India Private Limited Vs Knight Frank (India) Private Limited Civil Appeal No. 9212 - 2018

> SC judgment dated 2018-09-10. Citation: TCN-2018-SC-00022. The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT).…

- **Court:** SC
- **Order date:** 10 Sept 2018
- **Citation:** TCN-2018-SC-00022
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/krishna-enterprises-housing-and-infrastructures-india-private-limited-vs-knight-0925425e

## Summary

### Background

The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT). The insolvency petition was admitted by the NCLT, after which the parties reached a settlement agreement.

## Facts

Krishna Enterprises (Housing and Infrastructures) India Private Limited filed an appeal against Knight Frank (India) Private Limited. The National Company Law Tribunal (NCLT) admitted an insolvency petition. Subsequently, the parties entered into a settlement agreement dated 2018-08-23. The Supreme Court took the settlement agreement on record and exercised its powers under Article 142 of the Constitution to set aside the NCLT's order dated 2018-08-07 in C.P. (IB) No.25/BB/2017. The appeal was disposed of based on the settlement terms.

## Issues and analysis

### Issue 1: Whether the Supreme Court can set aside the order of the National Company Law Tribunal (NCLT) based …

**Ratio:** The Supreme Court has the power under Article 142 of the Constitution to pass orders

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**Reasoning:** The court reasoned that in view of the settlement agreement between the parties, it was

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**Interpretation:** Article 142 grants the Supreme Court broad powers to ensure complete justice.

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**Application:** The court applied this principle to the present case, setting aside the NCLT's

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## Parties

- **Judges:** Ranjan…; NAVIN S…; +1 more
- **Appellants:** Krishna Enterprise…
- **Respondents:** Knight Frank…
- **Advocates:** Saurabh…; Sameer Cha…; +4 more

## Timeline

- **2017-01-01 — C.P. (IB) No.2…**: Proceedings before the Tribunal…
- **2018-08-07 — NCLT Ord…**: The National Company Law Tribunal (NCLT)…

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