Lokhandwala Kataria Construction Private Limited filed an appeal against Nisus Finance and Investment Managers LLP. The central issue was whether the National Company Law Appellate Tribunal (NCLAT) could use its inherent powers to allow a compromise between the parties after the admission of the matter, considering Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016. The NCLAT had ruled that it could not. The Supreme Court heard the appeal and noted that all parties were present. Consent Terms were agreed upon by the parties on 28.06.2017 and 12.07.2017. The appellant undertook to abide by these Consent Terms and pay the sums due. The Supreme Court then disposed of the appeal, effectively settling the matter based on the Consent Terms.

Lokhandwala Kataria Construction Private Limited filed an appeal against Nisus Finance and Investment Managers LLP. The central issue was whether the National Company Law Appellate Tribunal (NCLAT) could use its inherent powers to allow a compromise between the parties after the admission of the matter, considering Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016. The NCLAT had ruled that it could not. The Supreme Court heard the appeal and noted that all parties were present. Consent Terms were agreed upon by the parties on 28.06.2017 and 12.07.2017. The appellant undertook to abide by these Consent Terms and pay the sums due. The Supreme Court then disposed of the appeal, effectively settling the matter based on the Consent Terms.