# In the matter of Pearson Drums and Barrels (P) Ltd. Vs. Maldar Barrels (P) Ltd. Civil Appeal No. 778-2018

> SC judgment dated 2018-01-22. Citation: TCN-2018-SC-00080. The present appeal arises out of an operational debt. The National Company Law Tribunal, Kolkata…

- **Court:** SC
- **Order date:** 22 Jan 2018
- **Citation:** TCN-2018-SC-00080
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/pearson-drums-and-barrels-p-ltd-vs-maldar-barrels-e454d129

## Summary

### Background

The present appeal arises out of an operational debt. The National Company Law Tribunal, Kolkata Bench, Kolkata, on 09.01.2018, admitted the petition. An order passed on 12.01.2018 corrected some errors that have crept in.

## Facts

Pearson Drums and Barrels (P) LTD filed an appeal against Maldar Barrels (P) LTD regarding an operational debt. The National Company Law Tribunal, Kolkata Bench, admitted the petition on 09.01.2018, and a subsequent order on 12.01.2018 corrected some errors. The parties then entered into a Settlement Agreement dated 11.01.2018. The Supreme Court took the settlement agreement on record and disposed of the appeal, setting aside the NCLT's order.

## Issues and analysis

### Issue 1: Whether the Supreme Court should set aside the order(s) passed by the National Company Law Tribunal …

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

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**Reasoning:** The court noted that the matter had been settled between the parties, and a settlement

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**Interpretation:** Article 142 empowers the Supreme Court to take actions necessary to ensure

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**Application:** The court applied the ratio of Article 142 to the facts of the case, where a

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## Parties

- **Judges:** ROHINTON FALI…; NAVIN S…
- **Appellants:** PEARSON DRUMS AND…
- **Respondents:** Maldar Barrels…
- **Other parties:** Over Tu…

## Timeline

- **2018-01-09 — NCLT Admits P…**: The National Company Law Tribunal, Kolkata Bench, admitted the petition related to the…
- **2018-01-12 — NCLT Corrects…**: The National Company Law Tribunal passed an order correcting some errors in the initial…

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