# In the matter of RT Network Solutions Pvt. Ltd. Vs. Projects India Enterprise Civil Appeal No. 5256-2018

> SC judgment dated 2018-05-16. Citation: TCN-2018-SC-00050. The National Company Law Tribunal (NCLT) admitted an insolvency petition under Section 9 of the…

- **Court:** SC
- **Order date:** 16 May 2018
- **Citation:** TCN-2018-SC-00050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/rt-network-solutions-pvt-ltd-vs-projects-india-enterprise-civil-appeal-no-5256-2-ec7ff553

## Summary

### Background

The National Company Law Tribunal (NCLT) admitted an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, on May 3, 2018. The parties involved subsequently settled the matter according to the terms of a settlement dated May 2, 2018.

## Facts

RT Network Solutions Private Limited filed an appeal against Projects India Enterprise. The National Company Law Tribunal (NCLT) admitted an insolvency petition against Projects India Enterprise on May 3, 2018, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to the Supreme Court hearing, the parties reached a settlement on May 2, 2018. The Supreme Court took the settlement on record and set aside the NCLT order dated May 3, 2018, using its powers under Article 142 of the Constitution. The appeal was then disposed of.

## Issues and analysis

### Issue 1: Whether the Supreme Court can set aside an order of the National Company Law Tribunal admitting an …

**Ratio:** The Supreme Court has the power to facilitate settlements and ensure justice, even if it

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**Reasoning:** The Court recognized the settlement between the parties as a valid resolution of the

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**Interpretation:** This demonstrates the Court's willingness to prioritize settlements in

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**Application:** In this case, the existence of a settlement agreement between RT Network

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## Parties

- **Judges:** ROHINTON FALI…; ABHAY MANOHAR…
- **Appellants:** RT NETWORK…
- **Respondents:** PROJECTS INDIA…

## Timeline

- **2018-05-02 — Settlemen…**: The parties settled the matter by the…
- **2018-05-03 — NCLT Ord…**: The National Company Law Tribunal admitted the insolvency petition under Section 9 of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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