# In the matter of Shrinidhi Laminates Ltd. Vs. Bhagwati Corporation Civil Appeal No. 16830-2017

> SC judgment dated 2017-10-10. Citation: TCN-2017-SC-00011. The case involves a civil appeal arising out of a Special Leave Petition (SLP). The impugned order…

- **Court:** SC
- **Order date:** 10 Oct 2017
- **Citation:** TCN-2017-SC-00011
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/shrinidhi-laminates-ltd-vs-bhagwati-corporation-civil-appeal-no-16830-2017-c21af612

## Summary

### Background

The case involves a civil appeal arising out of a Special Leave Petition (SLP). The impugned order was passed by the National Company Law Tribunal (NCLT) at Ahmedabad on 04.09.2017. The appellant is Shrinidhi Laminates Ltd., and the respondent is Bhagwati Corporation. The matter was regarding a debt.

## Facts

Shrinidhi Laminates Ltd. filed an appeal against Bhagwati Corporation. The appeal originated from an order passed by the National Company Law Tribunal (NCLT) at Ahmedabad on September 4, 2017. During the proceedings, the Supreme Court noted that the entire debt had been paid off, and the matter was settled between the involved parties. Consequently, the court exercised its powers under Article 142 of the Constitution to set aside the NCLT's order. The key fact is the settlement of the debt, which led to the disposal of the appeal.

## Issues and analysis

### Issue 1: Whether the Supreme Court should set aside the order of the National Company Law Tribunal given …

**Ratio:** When a debt is fully paid and the matter is settled between the parties, the court can

…

**Reasoning:** The court reasoned that since the debt had been fully paid off and the matter was

…

**Interpretation:** Article 142 of the Constitution empowers the Supreme Court to pass orders

…

**Application:** In this case, the court applied the ratio by setting aside the NCLT order

…

## Parties

- **Judges:** ROHINTON FALI…; SANJAY KISH…
- **Appellants:** SHRINIDHI…
- **Respondents:** BHAGWATI CORPORATI…
- **Other parties:** Over Tu…

## Timeline

- **2017-09-04 — NCLT Ord…**: The National Company Law Tribunal (NCLT) at Ahmedabad passed an order in CP No.…
- **2017-10-10 — Supreme Court…**: The Supreme Court heard the appeal and noted that the debt had been paid off and the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/supreme-court-of-india/shrinidhi-laminates-ltd-vs-bhagwati-corporation-civil-appeal-no-16830-2017-c21af612