# In the matter of Shakti Bio Science Ltd. Vs. Kadillac Chemicals Pvt. Ltd. SLP (C) No(s). 7132-2018

> SC judgment dated 2018-03-23. Citation: TCN-2018-SC-00070. The case arises from an impugned final judgment and order dated 2018-02-09 in CP No.…

- **Court:** SC
- **Order date:** 23 Mar 2018
- **Citation:** TCN-2018-SC-00070
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/shakti-bio-science-ltd-vs-kadillac-chemicals-pvt-ltd-slp-09e3f641

## Summary

### Background

The case arises from an impugned final judgment and order dated 2018-02-09 in CP No. 150/9/NCLT/AHM/2017 passed by the National Company Law Tribunal. The petition was called for hearing on 2018-03-23.

## Facts

The case involves a special leave petition against a final judgment and order from the National Company Law Tribunal (NCLT). The NCLT order, dated 2018-02-09, was issued in CP No. 150/9/NCLT/AHM/2017. During the Supreme Court hearing on 2018-03-23, it was brought to the court's attention that a settlement had been reached between the parties on 2018-03-05. Consequently, the Supreme Court set aside the NCLT order. Shakti Bio Science Ltd. is the petitioner, and Kadillac Chemicals Pvt. Ltd. is the respondent.

## Issues and analysis

### Issue 1: Whether the order of the National Company Law Tribunal (NCLT) should be set aside in view of the …

**Ratio:** A court may set aside a lower court's order when the parties have reached a settlement

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**Reasoning:** The Supreme Court reasoned that since the parties had reached a settlement on 2018-03-05,

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**Interpretation:** This legal issue involves the interpretation of the court's power to modify or

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**Application:** In this specific case, the ratio and reasoning were applied to set aside the

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## Parties

- **Judges:** ADARSH KUMA…; ROHINTON FALI…; +1 more
- **Appellants:** SHAKTI BIO…
- **Respondents:** KADILLAC CHEMICALS…

## Timeline

- **2018-02-09 — NCLT Ord…**: The National Company Law Tribunal (NCLT)…
- **2018-03-05 — Settlemen…**: The parties reached a…

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